Alkermes Gains as Depression Drug Meets Study Goals
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Alkermes Plc, the maker of the alcohol-dependence treatment Vivitrol, rose to an 11-year high in U.S. trading after the company said its experimental drug for major depressive disorder met goals of a mid-stage trial.
Alkermes gained 16 percent to $29.72 at 4 p.m. New York time, its highest closing price since March 2002. The shares of the Dublin-based company have increased 60 percent this year.