Independent Proxy Advisory Firm ISS Concludes That Sarissa Capital Has Made a Compelling Case for Change to the Alkermes Board

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Sarissa Capital Management LP (“Sarissa”) today made the following announcement regarding the conclusion reached by independent proxy advisory firm ISS that Sarissa has made a compelling case for change to the board of directors of Alkermes plc (NASDAQ: ALKS):

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Business Wire, Inc.Business Wire, Inc.
Retrieved on: 
Mardi, juin 20, 2023
Information
Tags: 
Banking, Professional Services, Finance, BLUE, Shareholder, Failure, Internet, Glenview Capital Management, Telephone, Annual, Annual Meetings of the International Monetary Fund and the World Bank Group, Wall Street, ALKS, Sarissa, ISS, Alkermes (company), Management, Security (finance), Auction, Alkermes
Geotags: 
CONNECTICUT, UNITED STATES, NORTH AMERICA, NEW YORK
⚠ partially generated by AI ↴
Organisation: 
SARISSA CAPITAL MANAGEMENT, SARISSA CAPITAL MANAGEMENT LP, ALKERMES
Stock Symbol: 
NASDAQ:ALKS
Résumé
Key Points: 
  • Sarissa Capital Management LP (“Sarissa”) today made the following announcement regarding the conclusion reached by independent proxy advisory firm ISS that Sarissa has made a compelling case for change to the board of directors of Alkermes plc (NASDAQ: ALKS):
    We are pleased that ISS recognizes the compelling case for change to the Alkermes board.
  • ISS also concludes that with the pending spin of its cancer business, the value of Alkermes’ incumbent director Richard Gaynor will be reduced and therefore he should be removed from the Alkermes board.
  • Fellow Alkermes shareholders face an important decision at our upcoming annual shareholder meeting.
  • Like ISS, we believe it is important to add direct shareholder representation to the Alkermes board.


Sarissa Capital Management LP (“Sarissa”) today made the following announcement regarding the conclusion reached by independent proxy advisory firm ISS that Sarissa has made a compelling case for change to the board of directors of Alkermes plc (NASDAQ: ALKS):

We are pleased that ISS recognizes the compelling case for change to the Alkermes board. In particular, ISS noted that “the failure to deliver profitability is a sign that [Alkermes] has not done enough to regain shareholders’ trust” and that “[Sarissa Capital] has made a compelling case that the prolonged inability of the incumbent leadership to transition to profitability warrants change in the boardroom.” Therefore, ISS concludes that shareholders’ interests would be best served by adding a direct shareholder representative to the Alkermes board.

ISS also concludes that with the pending spin of its cancer business, the value of Alkermes’ incumbent director Richard Gaynor will be reduced and therefore he should be removed from the Alkermes board.

Fellow Alkermes shareholders face an important decision at our upcoming annual shareholder meeting. Like ISS, we believe it is important to add direct shareholder representation to the Alkermes board. In our view, shareholder representation is critical to unlock the true potential of Alkermes and to provide the necessary oversight and accountability to prevent a reversion to the status quo of the last 30 years of underperformance under the leadership of Chairman and CEO Richard Pops.

Your vote at Alkermes' Annual General Meeting of Shareholders on June 29, 2023 is very important. We urge all shareholders to vote "FOR" the election of the Sarissa Nominees, “AGAINST” the compensation of the Company’s named executive officers, and "FOR" all other proposals in our proxy statement.

For additional information please visit our website at upgradealkermes.com.

#UpgradeAlkermes

If you have any questions regarding your BLUE universal proxy card or need assistance in executing your proxy card, please contact:

D.F. King & Co., Inc.

Shareholders call Toll-Free: (866) 207-3648

All Others Call: (212) 493-6952

Email: [email protected]

You can vote in one of three easy ways: by internet at www.cesvote.com, by telephone at 1-888-693-8683 or by mail using the BLUE universal proxy card and postage-paid envelope sent to you.

If you vote by internet or telephone, you will be required to provide the unique control number printed on your BLUE universal proxy card.

Additional Information

Sarissa Capital Management LP (“Sarissa Capital”), together with other participants, filed a definitive proxy statement and an accompanying BLUE universal proxy card with the SEC on June 2, 2023, in connection with the solicitation of shareholders of the Company for the 2023 annual general meeting of shareholders (the “Annual Meeting”). Shareholders are advised to read the definitive proxy statement and other documents related to the Annual Meeting as they contain important information.

The definitive proxy statement and other relevant documents are available at no charge on the SEC’s website at www.sec.gov. The definitive proxy statement and other relevant documents filed by Sarissa Capital are also available at no charge at www.upgradealkermes.com or by directing a request to Sarissa Capital’s proxy solicitor, D.F. King & Co., Inc., 48 Wall Street, New York, New York 10005 (Shareholders can call toll-free: (866) 207-3648).

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