Alkermes stock declines on potentially bad news

NEW YORK Mixed results from drugs caused Alkermes stock to decline Wednesday.

News that patients using Eli Lilly’s diabetes drug Byetta had died have raised concerns about Exenatide LAR, a drug that Eli Lilly developed with Alkermes that is a long-release version of Byetta.

At the same time, Johnson & Johnson said the Food and Drug Administration had requested additional information about its drug paliperidone palmitate—potentially delaying its approval—which would increase sales for Risperdal Consta, an anti-psychotic drug that Alkermes also helped develop.

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