Alkermes to seek schizophrenia drug approval after trial success

Alkermes Plc said it planned to seek U.S. marketing approval for its experimental drug to treat the symptoms of schizophrenia after it succeeded in a late-stage study, sending the company’s shares up as much as 11 percent. The company said it would apply for marketing approval for a monthly dose of the injectable drug, aripiprazole lauroxil, in the third quarter of 2014. “Once monthly or even less frequent dosing is key, since it increases compliance rates in schizophrenia, reduces relapse rates and hospitalization costs and provides costs savings to the healthcare system,” Leerink Partners analyst Michael Schmidt said in an e-mail. Data from the late-stage study supported dosing of the drug once every two months, Chief Executive Richard Pops said on a conference call with analysts.