Alkermes plc has received a $150 million milestone payment from Biogen triggered by the U.S. FDA approval of VUMERITY (diroximel fumarate), a novel oral fumarate for the treatment of relapsing forms of multiple sclerosis, and Alkermes’ transfer to Biogen.
 
“The receipt of this milestone payment marks an important achievement for Alkermes and is a testament to the strategic execution of our clinical and regulatory activities related to VUMERITY over the past few years. This payment bolsters our solid financial foundation and increases our flexibility to pursue strategic business development opportunities and invest in our internal development pipeline,” said Blair Jackson, senior vice president of Corporate Planning.
 
Under the license and collaboration agreement with Biogen, Alkermes was responsible for conducting the clinical development of VUMERITY and regulatory activities relating to its approval, and Biogen holds the exclusive, worldwide commercialization license. Alkermes is entitled to receive royalties on sales of VUMERITY under certain circumstances, for the first five years following FDA approval and customary reductions in the agreement.