Alkermes issued patent for fumarate pro-drug, says Citigroup Citigroup notes that Alkermes (ALKS) was issued a United States patent for its pro-drug of mono-methyl fumarate, the active ingredient in Biogen's (BIIB) Tecfidera. Citi views the patent as supporting the regulatory potential of ALKS 8700, and notes the drug is a long-term threat to Tecfidera. The firm says Phase 1 data expected by year-end 2014 could be meaningful and keeps a Buy rating on Alkermes with a $60 price target.
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