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Alkermes Presents New Data Analysis on Healthcare Resource Use Among Veterans with Alcohol Dependence

06/30/2021 | 07:00am EDT

Alkermes plc announced the presentation of new health economics and outcomes research related to healthcare resource use among veterans with alcohol dependence at the 2021 Research Society on Alcoholism Scientific Meeting/International Society for Biomedical Research on Alcoholism Conference, which took place virtually June 19-23, 2021. The company presented results from a retrospective, observational study using data from the Veterans Health Administration database, which includes healthcare encounters, treatments and laboratory tests at VHA facilities. The study assessed treatment patterns and HRU among 3,665 patients diagnosed with alcohol dependence who were treated with VIVITROL. In the study, VIVITROL treatment for alcohol dependence was associated with decreases in inpatient care and increases in outpatient care during the one-year period following initiation of treatment with VIVITROL, compared to the one-year period before VIVITROL treatment initiation. Specifically: During the baseline period, defined as the one year before VIVITROL initiation, 61.5% of patients had at least one inpatient admission, and 39.8 % of patients had an emergency department visit. During the follow up period, defined as one year after VIVITROL initiation, 37.8% of patients had at least one inpatient admission and 35.4% of patients had an emergency department visit. These HRU changes may reflect a possible transition to less resource-intensive care for veterans initiating VIVITROL. The generalizability of these results to the U.S. population may be limited. The company previously presented data from another retrospective, observational study using the same VHA database at the Association of Military Surgeons of the United States, The Society of Federal Health Professionals, Annual Meeting in December 2020. That study was one of the first studies to provide insights into the patient journey among veterans from alcohol dependence diagnosis to VIVITROL initiation and beyond. Patients studied had extensive health care use and carried a high burden of chronic disease, including hypertension (40.5%), chronic pain (10.8%), and diabetes (9.7%). In addition, a majority had diagnoses for mental health comorbidities, such as depression (74.1%), non-alcohol/opioid substance use disorder (66.3%), and post-traumatic stress syndrome (52.9%). Key findings included: Although 25 % of patients initiated VIVITROL within 60 days of diagnosis, the average time from initial diagnosis to VIVITROL initiation was analogous to 13.6 months. While many of the patients studied (75.8%) received oral naltrexone prior to initiating VIVITROL, 22.0% initiated VIVITROL as first-line medication. Additionally, about half of the patients studied (46.6%) did not initiate other alcohol dependence medications during the study period following initiation of treatment with VIVITROL.

ę S&P Capital IQ 2021
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Financials (USD)
Sales 2021 1 173 M - -
Net income 2021 -80,0 M - -
Net cash 2021 384 M - -
P/E ratio 2021 -63,7x
Yield 2021 -
Capitalization 4 971 M 4 971 M -
EV / Sales 2021 3,91x
EV / Sales 2022 3,45x
Nbr of Employees 2 245
Free-Float 96,7%
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Mean consensus HOLD
Number of Analysts 9
Last Close Price 30,81 $
Average target price 26,50 $
Spread / Average Target -14,0%
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Managers and Directors
Richard F. Pops Chairman & Chief Executive Officer
Iain Michael Brown Senior VP, Chief Financial & Accounting Officer
Craig C. Hopkinson Chief Medical Officer & EVP-Research & Development
Thomas Harvey Chief Information Officer & Senior VP-IT
Sondra Smyrnios Senior Vice President-Clinical Operations
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