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Exhibit 99
News Release
[Alkermes Letterhead]
FOR IMMEDIATE RELEASE
JOHNSON & JOHNSON TO TERMINATE FURTHER DEVELOPMENT OF
INJECTABLE SUSTAINED RELEASE FORMULATION OF ERYTHROPOIETIN
Cambridge, MA, June 12, 2000 - Alkermes, Inc. (NASDAQ: ALKS) today announced
that the R.W. Johnson Pharmaceutical Research Institute (PRI), a Johnson &
Johnson company, has terminated further development of an injectable sustained
release formulation of erythropoietin based on Alkermes' ProLease(R) drug
delivery technology.
Alkermes and PRI announced their collaboration for the development of a ProLease
injectable sustained release formulation of erythropoietin in January 1998.
"We are disappointed with this outcome," said Richard F. Pops, Chief Executive
Officer of Alkermes. "We have multiple collaborations in place for our sustained
release drug delivery systems. While we hope that every collaboration results in
a marketed product, we know that attrition is inevitable."
Alkermes is a leader in the development of products based on sophisticated drug
delivery technologies. The Company has several areas of focus: (i) controlled,
sustained release of injectable drugs lasting several days to several weeks,
utilizing its ProLease(R) and Medisorb(R) technologies; (ii) the development of
pharmaceutical products based on proprietary pulmonary drug delivery
technologies utilizing its AIR technology, (iii) oral delivery of drugs using
the RingCap(TM) and DST technologies, and (iv) the delivery of drugs into the
brain past the blood-brain barrier, utilizing its Cereport(R) technology. In
addition to its Cambridge, Massachusetts headquarters, research and
manufacturing facilities, Alkermes operates research and manufacturing
facilities in Ohio and a medical affairs office in Cambridge, England.
CONTACT: Investor Relations:
Richard F. Pops, CEO Lisa Burns
Alkermes, Inc. Burns McClellan
(617) 494-0171 (212) 213-0006
