Flexibility of our business model allows us to adapt our cost structure while maintaining our ability to develop innovative products of our own.In workforce, effective this week, represents approximately 18% of thepany's total workforce.Affected by the restructuring will be eligible for a severance package that includes severance pay, continuation of benefits and outplacement services.Foundation remains strong, and we are focused on maintaining this strength moving forward,"mented David Broecker.Of the program forced us to make difficult choices about the optimal size of the organization.Acknowledge the outstanding contributions that these employees have made, and I wish to express my sincere thanks for their hard work.Not anticipate any expense savings as a result of the restructuring in fiscal 2008, ending March 31, 2008.Expects to take a restructuring charge in the fourth quarter of fiscal 2008 in the range of $5 million to $10 million associated with the reduction in workforce and facility-related expenses.Addition, thepany expects to take an impairment charge of up to $15 million in the fourth quarter of fiscal 2008 related to fixed assets at the Chelsea facility.Expects cost savings from the restructuring in the range of $15 million to $20 million in fiscal 2009 and will provide more detailed financial expectations for fiscal 2009 in May.Of December 31, 2007, Alkermes reported cash and total investments of $516.Alkermes Alkermes, Inc.Biotechnologypanymitted to developing innovative medicines to improve patients' lives, manufactures RISPERDAL® CONSTA® for schizophrenia and developed and manufactures VIVITROL® for alcohol dependence.Robust pipeline includes extended-release injectable, pulmonary and oral products for the treatment of prevalent, chronic diseases, such as central nervous system disorders, addiction and diabetes.In Cambridge, Massachusetts, Alkermes has research and manufacturing facilities in Massachusetts and Ohio.Set forth above may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including but not limited to, statements relating to thepany's expectations of the financial impact of Eli Lilly andpany's termination of the AIR Insulin program and the financial and clinical implications of thepany's restructuring of its operations.Believes that such statements are based on reasonable assumptions within the bounds of its knowledge, the forward-looking statements are neither promises nor guarantees, and Alkermes' business is subject to significant risk and uncertainties.There can be no assurance that Alkermes' actual results will not differ materially from its expectations.Risks and uncertainties include, among others, whether thepany can achieve the anticipated expense savings, and will incur the anticipated restructuring costs and impairment charge, from the reduction in workforce and closure of the manufacturing facility in Chelsea, MA; whether thepany, as restructured, will meet the demands of its product programs and its financial objectives; and whether thepany can apply its technology and development expertise to build its pipeline.Information with respect to factors that could cause thepany's actual results to differ materially from expectations, reference is made to the reports thepany filed with the Securities and Exchangemission under the Securities Exchange Act of 1934, as amended.Any intention or responsibility for updating forward-looking statements made in this release.A registered trademark of Alkermes, Inc; VIVITROL® is a registered trademark of Cephalon, Inc.RISPERDAL® CONSTA® is a registered trademark of Johnson & Johnson Corporation.Related News Items > > > Source: Alkermes Issuer of this News Release is solely responsible for its content.Please address inquiries directly to the issuingpany.Related Market Research Rmended Reports > > > > > > > > > > Copyright 1999-2008 The Healthcare Sales & Marketing Network.Read more A phase ii study of oxaliplatin with low-dose leucovorin and bolus and continuous infusion 5-fluorouracil (modified folfox-4) for gastric cancer patients with malignant ascites
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