Alkermes Testing Schizophrenia Drug

WALTHAM, Mass. (TheStreet) -- Alkermes(ALKS) announced plans Thursday to begin human testing of a proprietary, once-a-month injectable version of aripiprazole, a top-selling treatment for schizophrenia sold under the Abilify brand name by Bristol-Myer Squibb(BMY).

The project to develop a new, long-acting form of Abilify is being done without the cooperation or consent of Bristol-Myers. This is not a partnership between the two companies. Instead, Alkermes is striking out alone, operating under the assumption that its new drug, which it dubs ALKS 9070, will be ready for approval and launch after Abilify's patents begin to expire in 2012.

Abilify is the fastest-growing antipsychotic in its class. Sales of the once-daily pill grew 20% last year to $2.6 billion worldwide.

Alkermes is developing ALKS 9070 using a new long-acting drug delivery technology that the company calls LinkeRx. Drugs created using LinkeRx are designed to be easier to manufacture and more convenient to use than existing long-acting drugs, including those already marketed by Alkermes using older drug delivery systems, says Alkermes CEO Richard Pops, in an interview.

"LinkeRx is a new drug delivery platform that we can use to create new, long-acting drugs that leverage the established efficacy and safety of existing Big Pharma products," he says.

While pills are generally considered more convenient than injectable drugs, that's not necessarily the case in the schizophrenia treatment market, where long-acting injectable drugs have performed very well commercially. Schizophrenia patients sometimes resist taking their medication, so injections can increase compliance and improve outcomes.