Alkermes plc and Amneal Pharmaceuticals LLC terminated their Authorized Generic Product Supply Agreement for VIVITROL on July 6, 2026, without incurring penalties. The agreement, originally signed on September 9, 2025, allowed Amneal to distribute and sell a limited quantity of an authorized generic version of VIVITROL in the United States. The termination followed Alkermes notifying Amneal that it had not met certain terms, which Amneal had a period to remedy. Before that period expired, Amneal informed Alkermes it did not wish to order any Batches under the agreement.

Under the terminated agreement, Alkermes Pharma Ireland Limited (APIL), a wholly-owned indirect subsidiary of Alkermes plc, granted Amneal rights to the authorized generic product for a one-year term beginning on the date of a Third Party ANDA Product Launch. Compensation was structured as a payment for supply at a premium to APIL’s fully burdened manufacturing cost, along with a share of any Net Profits from sales of the Amneal AG Product. The agreement was previously filed as Exhibit 10.1 to Alkermes plc’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2025.

Following the termination, no further payments or obligations are owed by APIL or Amneal under the agreement. Both parties agreed to release any and all claims against one another and their respective affiliates, successors, assigns, and other representatives arising out of or related to the agreement. The release covers all potential disputes connected to the now-terminated supply arrangement.

Mizuho analyst Uy Ear has maintained an Outperform rating on Alkermes (NASDAQ: ALKS) while raising the stock's price target. The new target stands at $65, an increase from the previous $53. This adjustment reflects a revised outlook on the company's valuation and market position, suggesting potential upside based on the firm's analysis.

Rating and Target Details

The following table summarizes the changes announced by Mizuho:

Separately, Wells Fargo analyst Benjamin Burnett has maintained an Overweight rating on Alkermes with a price target of $65, up from $44. Needham analyst Ami Fadia has also maintained a Buy rating on the stock with a price target of $61, an increase from $54.