Item 8.01 Other Events.
On December 21, 2022, Alkermes plc (together with its subsidiaries, the
"Company") received an interim award (the "Interim Award") in its arbitration
proceedings with Janssen Pharmaceutica N.V. ("Janssen"), a subsidiary of Johnson
& Johnson, in respect of Janssen's partial termination in the United States of
two license agreements with the Company. In the Interim Award, the arbitral
tribunal (the "Tribunal") agreed with Alkermes' position that, while Janssen may
terminate the agreements, it may not continue to sell Products (as defined in
the agreements) developed during the term of the agreements without paying
royalties pursuant to the terms of the respective agreements. Alkermes will
engage with Janssen and the Tribunal in additional proceedings prior to the
Tribunal's issuance of a final award.
In accordance with the license agreements, the arbitration is being conducted
pursuant to the Institute for Conflict Prevention and Resolution (CPR) Rules for
Non-Administered Arbitration before a panel of three arbitrators. Alkermes does
not intend to comment or provide additional information regarding the
arbitration at this time.
The Company disclaims any obligation to update or revise the information set
forth in this Current Report on Form 8-K, whether as a result of new
information, future events or otherwise, except as required by law.
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