ALKS - Alkermes plc (ALKS) Q4 2023 Earnings Call Transcript
2024-02-15 15:08:12 ET
Alkermes plc (ALKS)
Q4 2023 Earnings Conference Call
February 15, 2024, 08:00 AM ET
Company Participants
Sandra Coombs - Senior Vice President, Corporate Affairs and Investor Relations
Richard Pops - Chairman and Chief Executive Officer
Todd Nichols - Senior Vice President and Chief Commercial Officer
Blair Jackson - Executive Vice President and Chief Operating Officer
Conference Call Participants
David Amsellem - Piper Sandler
Akash Tiwari - Jefferies
Paul Matteis - Stifel
Jason Gerberry - Bank of America
Charles Duncan - Cantor Fitzgerald
Umer Raffat - Evercore
Marc Goodman - Leerink Partners
Ashwani Verma - UBS
Presentation
Operator
Greetings. And welcome to the Alkermes Fourth Quarter 2023 Financial Results Conference Call. My name is Rob and I’ll be your operator for today’s call. All participant lines will be placed on mute to prevent background noise. [Operator Instructions] Please note that this conference is being recorded.
I’ll now turn the call over to Sandy Coombs, Senior Vice President of Investor Relations and Corporate Affairs. Sandy, you may begin.
Sandra Coombs
Thank you, Rob. Good morning. Welcome to the Alkermes plc conference call to discuss our financial results and business update for the quarter and year ended December 31, 2023. With me today are Richard Pops, our CEO, Todd Nichols, our Chief Commercial Officer and Blair Jackson, our Chief Operating Officer, who will be reviewing our financial results and expectations while our Chief Financial Officer Iain Brown is on medical leave.
During today’s call, we will be referencing slides. These slides, along with our press release, related financial tables and reconciliations of the GAAP to non-GAAP financial measures that we’ll discuss today, are available on the Investors section of alkermes.com. We believe the non-GAAP financial results, in conjunction with the GAAP results, are useful in understanding the ongoing economics of our business.
Our discussions during this conference call will include forward-looking statements. Actual results could differ materially from these forward-looking statements. Please see slide 2 of the accompanying presentation, our press release issued this morning, and our most recent annual and quarterly reports filed with the SEC, for important risk factors that could cause our actual results to differ materially from those expressed or implied in the forward-looking statements. We undertake no obligation to update or revise the information provided on this call or in the accompanying presentation as a result of new information or future results or developments. After our prepared remarks, we will open the call for Q&A.
And now I will turn the call over to Richard for some opening remarks.
Richard Pops
Great. Thank you, Sandy and good morning, everyone. So 2023 was an eventful and productive year at Alkermes one in which we repositioned the company and established a strong foundation for growth. We had an ambitious agenda last year, and we successfully achieved the major goals we set for ourselves.
We entered 2023 in arbitration with JNJ and prevailed in that matter decisively, which reinstated significant cash flows due to us, strengthened our balance sheet and enabled us to raise our financial expectations. We had another pending matter relating to VIVITROL’s patent protection, which we also resolved on favorable terms....
Alkermes plc (ALKS) Q4 2023 Earnings Call Transcript