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Alkermes (ALKS) Chairman Richard Pops to Resume Role of CEO



9/11/2009 8:29:53 AM

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CAMBRIDGE, Mass.--(BUSINESS WIRE)--Alkermes, Inc. today announced that Richard Pops will assume the duties of President and Chief Executive Officer, effective immediately. Mr. Pops, who will retain his duties as Chairman of the Board, will replace David Broecker who is leaving the company.

“I am enthusiastic about returning to the role of Chief Executive Officer. Alkermes is an exciting company and David leaves it in a strong position as we prepare for the approval of exenatide once weekly, complete the VIVITROL® pivotal study to expand the label into the opioid dependence indication and expand our pipeline of innovative medicines,” said Richard Pops. “I look forward to leading Alkermes as we develop medications that result in value to patients, as well as to our shareholders, in the years to come.”

Richard Pops, 47, served as Chief Executive Officer of Alkermes from February 1991 through April 2007. In April 2007, he assumed the role of Chairman of the Board along with continuing to remain actively involved as a full-time employee of the company in charge of strategy. Under his leadership, Alkermes grew from a privately held company with 25 employees to a publicly traded biotechnology company with more than 500 employees and two commercial products.

Mr. Broecker has resigned, effective immediately, from his position as President and Chief Executive Officer and as a member of the Board of Directors.

“On behalf of the Board and Alkermes employees, I would like to thank David Broecker for his numerous contributions to our company over the past eight years. We wish him much success in the future,” commented Pops.

About Alkermes

Alkermes, Inc. is a fully integrated biotechnology company committed to developing innovative medicines to improve patients' lives. Alkermes developed, manufactures and commercializes VIVITROL® for alcohol dependence and manufactures RISPERDAL® CONSTA® for schizophrenia and bipolar I disorder. Alkermes' robust pipeline includes extended-release injectable, pulmonary and oral products for the treatment of prevalent, chronic diseases, such as central nervous system disorders, addiction and diabetes. Headquartered in Cambridge, Massachusetts, Alkermes has research facilities in Massachusetts and a commercial manufacturing facility in Ohio.

VIVITROL® is a registered trademark of Alkermes, Inc. and RISPERDAL® CONSTA® is a registered trademark of Janssen-Cilag group of companies.

Contacts

Alkermes, Inc. For Investors: Rebecca Peterson, 617-583-6378 or For Media: Jennifer Snyder, 617-583-6166


Read at BioSpace.com


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