ALKERMES INC
424B3, 2000-07-13
PHARMACEUTICAL PREPARATIONS
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<PAGE>   1
Prospectus Supplement No. 10                  Filed pursuant to Rule 424(b)(3)
to Prospectus dated March 6, 2000                   Registration No. 333-31354


                                 ALKERMES, INC.

          $250,000,000 3 3/4% CONVERTIBLE SUBORDINATED NOTES DUE 2007
                        3,690,036 SHARES OF COMMON STOCK


     This prospectus supplement supplements the information contained in the
prospectus of Alkermes, Inc. dated March 6, 2000, as supplemented by Prospectus
Supplement No. 1 dated March 10, 2000, Prospectus Supplement No. 2 dated March
17, 2000, Prospectus Supplement No. 3 dated March 24, 2000, Prospectus
Supplement No. 4 dated April 5, 2000, Prospectus Supplement No. 5 dated April
13, 2000, Prospectus Supplement No. 6 dated April 21, 2000, Prospectus
Supplement No. 7 dated May 4, 2000, Prospectus Supplement No. 8 dated May 30,
2000 and Prospectus Supplement No. 9 dated June 21, 2000, relating to the
potential resale from time to time of the 3 3/4% Convertible Subordinated Notes
due 2007 of Alkermes and the resale of shares of common stock of Alkermes
issuable upon conversion of the notes.  This prospectus supplement is not
complete without, and may not be delivered or utilized except in connection
with, the prospectus, including any amendments or supplements thereto.

     The following table supplements the information set forth in the prospectus
under the caption "Selling Securityholders" with respect to the selling
securityholders and the respective principal amount of notes which are
beneficially owned and may be sold by each selling securityholder, and the
number of shares of common stock that may be sold by the selling securityholders
pursuant to this prospectus, as amended or supplemented:

                                                          Number of Shares of
                                                          Common Stock Issued
                                    Principal Amount of   Upon Conversion of the
                                    Notes Beneficially    Notes that May be
Name of Selling Securityholder (1)  Owned and Offered     Offered (2)

Deutsche Bank AG                      $22,750,000               335,793

(1)  The information set forth herein is as of July 13, 2000 and will be updated
     as required.
(2)  Assumes conversion of the full principal amount of the notes held by such
     holder at the initial conversion price of $67.75 per share of common stock.
     This prospectus supplement reflects the impact of the two-for-one split of
     Alkermes' common stock effective April 28, 2000 on the shares of common
     stock issuable upon conversion of the notes.


            THE DATE OF THIS PROSPECTUS SUPPLEMENT IS JULY 13, 2000



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