WALTHAM — Alkermes Inc. reported a larger fiscal fourth-quarter loss yesterday after it received less revenue for making the drug Risperdal Consta for Johnson & Johnson.
Alkermes lost $13.9 million, or 15 cents per share, up from $13.6 million, or 14 cents. Because manufacturing revenue was down, total revenue fell 12 percent to $38.5 million.
Analysts expected a loss of 15 cents per share and revenue of $42.4 million, according to Thomson Reuters.
Alkermes gets revenue for making Risperdal Consta, a schizophrenia drug, and gets royalty payments on sales. It also sells an alcohol dependency drug called Vivitrol and is one of the developers of Bydureon, a once-a-week diabetes drug that is being reviewed by the Food and Drug Administration.
The company is trying to get Vivitrol approved as a treatment for opioid addiction.
Alkermes said manufacturing revenue declined 8 percent to $22.6 million. Royalty revenue rose 15 percent, to $9.5 million, and Vivitrol revenue grew to $5.9 million from $4.5 million.
In the fiscal year ended March 31, Alkermes lost $39.6 million, or 42 cents per share.
The company turned a profit of $1.36 per share in 2008.
Annual revenue shrank 45 percent to $178.3 million.
Alkermes said it expects to lose $45 million to $55 million in fiscal 2011, or 47 to 58 cents per share. It forecast revenue of $170 million to $195 million.
Both totals were well below Wall Street estimates.
The FDA is scheduled to make a decision on Bydureon by Oct. 22. The drug would be sold by Eli Lilly & Co. It is a longer-lasting version of Lilly’s diabetes treatment Byetta. European Union regulators are also reviewing Bydureon.
