Merrill lowers Alkermes to neutral

Alkermes Inc. was downgraded by Merrill Lynch analyst Hari Sambasivam to neutral prompted by a lower Vivitrol sales outlook. The analyst also cited lower-than-anticipated revenues for Vivitrol during the second quarter of fiscal 2007, lower management guidance for fiscal 2007 ended March of $5 million to $10 million from a prior forecast of $35 million to $45 million and a dearth of near-term catalysts for pipeline products. Shares of the Cambridge, Mass.-based biotechnology company were down $1.00, or 6.15%, at $15.25. (Nasdaq: ALKS)

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