Alkermes to seek FDA approval to market drug for opiate treatment

November 16, 2009 12:16 PM ET

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Alkermes Inc. plans to seek approval next year to market its Vivitrol drug to treat opioid dependence, based on the results of a clinical trial.

Cambridge, Mass.-based Alkermes (Nasdaq: ALKS) develops Vivitrol to treat alcoholism. A late-stage clinical trial of the drug determined that subjects who were injected with Vivitrol once per month were more likely to pass a urine test than patients who received a placebo. Sbjects reported a lower craving for drugs, according to the company.

Based on the results, Alkermes said it will seek approval from the U.S. Food and Drug Administration to market the drug to treat addiction to opioids. Commonly prescribed opioids include codeine and oxycodone.

For the year ending March 30, Alkermes reported net income of $130.5 million on sales of $326.84 million.

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