Alkermes licensed multiple sclerosis drug Vumerity to Biogen for commercialization, and some analysts worried that it would be problematic for Denner to potentially sit on both companies' boards. Sarissa owns 8.45% of Alkermes, which is valued at $5.2 billion. This is the third time Sarissa has mounted a challenge. In 2021, Sarissa and Alkermes reached an agreement to add a new director. Last year Sarissa dropped a board challenge, and this year it has nominated three candidates. The hedge fund is criticizing the performance of Alkermes' stock, which has lost 38% over the last five years.