|Company Name||Alkermes plc|
On November 6, 2017, U.S. Senator Kamala Harris announced that she was opening an investigation into Alkermes’ sales practices for Vivitrol. Senator Harris stated that the Company “aggressively marketed” its medication, convincing judges and prison officials to use it rather than more proven addiction treatments and spent hundreds of thousands of dollars lobbying policymakers.
On this news, Alkermes’ stock price fell $2.23, or 4.4%, to close at $48.76 on November 6, 2017, thereby injuring investors.
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