Why Alkermes Stock Is Sinking Today

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.

Continue reading

Source Fool.com