• Alkermes plc, of Dublin, Ireland, reported financial results for its fourth quarter and fiscal year ending March 31. Total revenues for the fourth quarter were $163.4 million, compared to $130.5 million for the same period in the prior fiscal year. Revenues from the company's five key commercial products grew 26 percent in the quarter, to $89.5 million, compared to $71.2 million for the same period in 2012. For the fiscal year, revenues increased by 48 percent, to $575.5 million, reflecting the first full fiscal year following completion of the $960 million merger of Alkermes and Elan Drug Technologies in September 2011. Revenues totaled $390 million in the previous fiscal year. Non-GAAP net income increased to $179.5 million, or a non-GAAP diluted earnings per share (EPS) of $1.31, compared to non-GAAP net income of $40 million, or a non-GAAP diluted EPS of 34 cents, for the prior fiscal year, while GAAP net income increased to $25 million, or a basic GAAP EPS of 19 cents and a diluted GAAP EPS of 18 cents compared to a GAAP net loss of $113.7 million, or a basic and diluted GAAP net loss of 99 cents per share, for the prior fiscal year. Manufacturing and royalty revenues from Ampyra/Fampyra (dalfampridine, Acorda Pharmaceuticals Inc. and Biogen Idec Inc.) were $65 million, compared to $24.6 million for the previous fiscal year, and royalty revenue from Bydureon (exenatide, Amylin Pharmaceuticals Inc.) was $16.4 million compared to $1.5 million for the prior fiscal year. Alkermes reported cash and investments of $304.2 million on March 31, compared to $239.3 million on Dec. 31, 2012. The company also said it reduced its outstanding debt by $75 million, to $375 million, during the fiscal year and reduced the blended interest rate from approximately 7.6 percent to approximately 3.4 percent. Alkermes said its fiscal year-end will move to Dec. 31, effective with the current fiscal year. On Thursday, the company's shares (NASDAQ:ALKS) gained $1.25 to close at $33. (See BioWorld Today, May 10, 2011.)