Alkermes Receives A Final Award In Its Arbitration Proceedings With Janssen Pharmaceutica, A Subsidiary Of Johnson & Johnson, Regarding Two License Agreements. The Company Has Also Raised Its Financial Expectations For 2023 By Approximately $425M
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Alkermes has received a final award in its arbitration proceedings with Janssen Pharmaceutica, a subsidiary of Johnson & Johnson, regarding two license agreements. The company has also raised its financial expectations for 2023 by approximately $425 million.
June 06, 2023 | 10:06 am
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NEGATIVE IMPACT
Janssen Pharmaceutica, a subsidiary of Johnson & Johnson, loses arbitration proceedings against Alkermes.
The loss in the arbitration proceedings against Alkermes may have a negative impact on Johnson & Johnson's stock price in the short term, as it reflects a setback for its subsidiary, Janssen Pharmaceutica.
CONFIDENCE 90
IMPORTANCE 40
RELEVANCE 60
POSITIVE IMPACT
Alkermes wins arbitration against Janssen Pharmaceutica and raises its 2023 financial expectations by $425 million.
Alkermes' victory in the arbitration proceedings and the raised financial expectations for 2023 are positive news for the company, which is likely to have a positive impact on its stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100