The Secret to Alkermes' Success
Pharmaceutical company Alkermes reported an excellent quarter Monday. So what’s the reason for its success?
”The secret to what we’ve done is we’ve never really believed that any single drug is enough to take you to the finish line,” CEO Richard Pops told Cramer Tuesday.
Pops said many companies who only focus on one drug fail. “It’s a sucker bet,” he said.
The CEO also told Cramer he is confident the U.S. Food and Drug Administration will approve its diabetes drug, Bydureon.
“They put up one major hurdle for us. They said run this one study to look at the effect on the heart. That study took about 6 or 8 months to get done,” he said. “We announced the data in June. The data was clean, so we’ve resubmitted now and we should be back in the game.”
To see the full interview, watch the video.
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