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Why Alkermes Stock Is Sinking Today

TheMotleyFool

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Shares of Alkermes (NASDAQ: ALKS) were sinking 14.3% as of 11 a.m. EST on Tuesday. The decline came after the company announced on Monday that it had received notices of partial termination from Johnson & Johnson's (NYSE: JNJ) Janssen subsidiary related to license agreements for Alkermes' NanoCrystal technology.

Partial termination of the two license agreements affects royalties that Alkermes receives from J&J for antipsychotic drugs Invega Sustenna and Invega Trinza. The biotech stock fell due to investors' worries about the financial impact to Alkermes.

Image source: Getty Images.

Source Fool.com

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