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Alkermes fiscal 1st-quarter profit jumps on payment from former partner Eli Lilly

CAMBRIDGE, Mass. (AP) - Biotechnology company Alkermes Inc. said Thursday its fiscal 2009 first-quarter profit surged more than threefold on a payment from former partner Eli Lilly & Co. For the quarter ended June 30, Alkermes earned $29.7 million, or 31 cents per share, compared with profit of $8.7 million, or 8 cents per share, in the year-ago period. Revenue rose 16 percent to $80 million from $69 million. Excluding the $25.5 million payment, which amounted to about 26 cents per share, the company earned 5 cents... [read full story]                    

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