DUBLIN, Nov. 12, 2019 /PRNewswire/ -- Alkermes plc (Nasdaq: ALKS ) today announced the receipt of a $150 million milestone payment from Biogen triggered by the recent U.S. Food and Drug Administration (FDA) approval of VUMERITY™ (diroximel fumarate), a novel oral fumarate with a distinct chemical structure, for the treatment of relapsing forms of multiple sclerosis, and Alkermes' transfer to Biogen Inc. (Nasdaq: BIIB ) of the New Drug Application and other regulatory documentation related to VUMERITY. "The receipt of this milestone payment marks an important achievement for Alkermes and is a testament to the strategic execution of our clinical and regulatory activities related to VUMERITY over the past few years. This payment bolsters our solid financial foundation and increases our flexibility to pursue strategic business development opportunities and invest in our internal development pipeline," commented Blair Jackson, Senior Vice President of Corporate Planning.