We are undertaking this proxy contest reluctantly. We own shares valued at nearly $450 million and have a long track record of success generating value for shareholders of healthcare companies by working collaboratively in the boardroom. We have been attempting to engage constructively with the independent directors for several years. Our candidates are excellent and fill obvious needs on the board (certain incumbent Alkermes directors are redundant and/or superfluous). We cannot understand why the board is prepared to spend such a tremendous amount of time and shareholder funds to keep us out of the boardroom.