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Prospectus Supplement No. 1 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
1,845,018 SHARES OF COMMON STOCK
This prospectus supplement supplements information contained
in the prospectus of Alkermes, Inc. dated March 6, 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:
<TABLE>
<CAPTION>
Principal Amount of Number of Shares of Common Stock
Notes Beneficially Issued Upon Conversion of the
Name of Selling Securityholder (1) Owned and Offered Notes that May be Offered (2)
<S> <C> <C>
AIG/National Union Fire Insurance $ 750,000 5,535
Aloha Airlines Non-Pilots Pension Trust 90,000 664
Aloha Airlines Pilots Retirement Trust 50,000 369
Arkansas Teachers Retirement System 5,790,000 42,730
Bancroft Convertible Fund, Inc. 250,000 1,845
Baptist Health of South Florida 385,000 2,841
BNP Arbitrage SNC 5,750,000 42,435
Boston Museum of Fine Arts 257,000 1,896
C&H Sugar Company, Inc. 140,000 1,033
California Public Employees' Retirement System 3,000,000 22,140
CIBC World Markets International Arbitrage Corp. 3,500,000 25,830
Delaware PERS 1,375,000 10,147
Donaldson, Lufkin & Jenrette Securities Corp. 3,500,000 25,830
Ellsworth Convertible Growth and Income Fund, Inc. 250,000 1,845
Engineers Joint Pension Fund 788,000 5,815
EQAT Alliance Balanced Account 1,490,000 10,996
EQAT Alliance Growth & Income Account 2,210,000 16,309
EQAT Alliance Growth Investors 1,240,000 9,151
Equitable Life Assurance Separate Account-Balanced 80,000 590
Equitable Life Assurance Separate Account-Convertibles 1,260,000 9,298
Family Service Life Insurance Co. 200,000 1,476
First Republic Bank 115,000 848
Forest Alternative Strategies Fund II LP Series A 5 I 105,000 774
Forest Alternative Strategies Fund II LP Series A 5 M 40,000 295
</TABLE>
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<TABLE>
<CAPTION>
Principal Amount of Number of Shares of Common Stock
Notes Beneficially Issued Upon Conversion of the
Name of Selling Securityholder (1) Owned and Offered Notes that May be Offered (2)
<S> <C> <C>
Forest Convertible Fund LP 217,000 1,601
Forest Fulcrum Fund LP 670,000 4,944
Forest Global Convertible Fund Series A-5 9,287,000 68,538
Guardian Life Insurance Co. 6,500,000 47,970
Guardian Pension Trust 300,000 2,214
Hawaiian Airlines Employees Pension Plan-IAM 80,000 590
Hawaiian Airlines Pension Plan for Salaried Employees 20,000 147
Hawaiian Airlines Pilots Retirement Plan 120,000 885
ICI American Holdings Trust 700,000 5,166
Island Holdings 45,000 332
Janus Enterprise Fund 25,000,000 184,501
Kellner, DiLeo & Co. 1,000,000 7,380
K.D. Offshore C.V. 500,000 3,690
LLT Limited 125,000 922
Merrill Lynch Convertible Fund, Inc. 100,000 738
Nalco Chemical Company 300,000 2,214
New York Life Insurance and Annuity Corporation 1,000,000 7,380
New York Life Insurance Company 10,250,000 75,645
Nicholas-Applegate Convertible Fund 1,598,000 11,793
Pacific Life Insurance Company 1,000,000 7,380
Paloma Strategic Securities Limited 3,200,000 23,616
Paloma Securities L.L.C. 4,800,000 35,424
Physicians Life 616,000 4,546
Pilgrim Convertible Fund 7,029,000 51,874
PIMCO Convertible Bond Fund 3,000,000 22,140
Queen's Health Plan 30,000 221
RBC Capital Services Inc. 140,000 1,033
Robertson Stephens 70,000,000 516,605
San Diego City Retirement 1,578,000 11,645
San Diego County Convertible 4,584,000 33,830
Starvest Combined Portfolio 975,000 7,195
State of Oregon Equity 5,500,000 40,590
State of Oregon/SAIF Corporation 4,175,000 30,811
The Frist Foundation 220,000 1,623
Wake Forest University 1,901,000 14,029
Writers Guild-Industry Health Fund 489,000 3,608
Zeneca Holdings Trust 675,000 4,981
Zurich Master Hedge Fund Index LTD 64,000 472
</TABLE>
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(1) The information set forth herein is as of March 10, 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 $135.50 per share of
common stock.
THE DATE OF THIS PROSPECTUS SUPPLEMENT IS MARCH 10, 2000
2