Alkermes CEO targets orexin market after strong narcolepsy pill data

Alkermes' incoming chief executive outlined a strategy to compete with larger rivals in the emerging orexin drug class.

Recent mid-June trial results showed the experimental oral compound alixorexton significantly improved wakefulness in patients with type 2 narcolepsy compared with placebo, and no serious treatment-emergent adverse events were reported.

The company has launched a global Phase 3 study that will assess the drug in both type 1 and type 2 narcolepsy, and analysts view the orexin space as a multibillion-dollar opportunity that could reshape Alkermes' growth trajectory.