Sarissa says ISS recommends Alkermes shareholders vote for Schlesinger on board

Sarissa Capital Management made an announcement regarding the conclusion reached by independent proxy advisory firm ISS, stating in part: “We are pleased that ISS recognizes the compelling case for change to the Alkermes board. In particular, ISS noted that ‘the failure to deliver profitability is a sign that (Alkermes) has not done enough to regain shareholders’ trust’ and that ‘(Sarissa Capital) has made a compelling case that the prolonged inability of the incumbent leadership to transition to profitability warrants change in the boardroom.’ Therefore, ISS concludes that shareholders’ interests would be best served by adding a direct shareholder representative to the Alkermes board. ISS also concludes that with the pending spin of its cancer business, the value of Alkermes’ incumbent director Richard Gaynor will be reduced and therefore he should be removed from the Alkermes board.”