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  <H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>
  <DIV style="font-family: 'Times New Roman',Times,serif">
  
  
  <DIV align="right" style="font-size: 10pt; margin-top: 12pt">As filed with the Securities and Exchange Commission on September&nbsp;22, 2006
  <BR>
  Registration No.&nbsp;333-_________
  </DIV>
  
  
  <DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt; margin-top: 6pt">&nbsp;</DIV>
  <DIV style="width: 100%; border-bottom: 1pt solid black; font-size: 1pt">&nbsp;</DIV>
  
  
  
  
  
  <DIV align="center" style="font-size: 14pt; margin-top: 18pt"><B>SECURITIES AND EXCHANGE COMMISSION</B><BR>
  
  <DIV align="center" style="font-size: 12pt"><B>WASHINGTON, D.C. 20549</B>
  </DIV>
  
  <DIV align="center"><DIV style="font-size: 3pt; margin-top: 16pt; width: 26%; border-top: 1px solid #000000">&nbsp;</DIV></DIV>
  </DIV>
  
  
  <DIV align="center" style="font-size: 18pt; margin-top: 12pt"><B>FORM S-8</B>
  </DIV>
  
  
  <DIV align="center" style="font-size: 12pt; margin-top: 12pt"><B>REGISTRATION STATEMENT UNDER<BR>
  THE SECURITIES ACT OF 1933<BR>
  <DIV align="center"><DIV style="font-size: 3pt; margin-top: 16pt; width: 26%; border-top: 1px solid #000000">&nbsp;</DIV></DIV></B>
  </DIV>
  
  <DIV align="center" style="font-size: 24pt; margin-top: 12pt"><B>Alkermes, Inc.</B>
  </DIV>
  
  <DIV align="center" style="font-size: 10pt">(Exact Name of Company as specified in its charter)</DIV>
  
  
  <DIV align="center">
  <TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
  <!-- Begin Table Head -->
  <TR valign="bottom">
      <TD width="48%">&nbsp;</TD>
      <TD width="3%">&nbsp;</TD>
      <TD width="48%">&nbsp;</TD>
  </TR>
  <!-- End Table Head -->
  <!-- Begin Table Body -->
  <TR valign="bottom">
      <TD align="center" valign="top"><B>Pennsylvania</B><BR>
  (State or other jurisdiction of incorporation or organization)
  </TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top"><B>23-2472830</B><BR>
  (I.R.S. Employer Identification No.)</TD>
  </TR>
  <!-- End Table Body -->
  </TABLE>
  </DIV>
  
  <DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>ALKERMES, INC.<BR>
  88 SIDNEY STREET<BR>
  CAMBRIDGE, MASSACHUSETTS 02139-4234<BR>
  TELEPHONE: (617)&nbsp;494-0171</B><BR>
  (Address, including zip code, and telephone number, including area code,<BR>
  of registrant&#146;s principal executive offices)</DIV>
  
  
  <DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>ALKERMES, INC. 2006 STOCK OPTION PLAN FOR NON-EMPLOYEE DIRECTORS</B>
  </DIV>
  
  <DIV align="center" style="font-size: 10pt">(Full title of the plan)</DIV>
  
  
  <DIV align="center" style="font-size: 10pt; margin-top: 12pt">Richard F. Pops<BR>
  Chief Executive Officer<BR>
  ALKERMES, INC.<BR>
  88 Sidney Street<BR>
  Cambridge, Massachusetts 02139-4234<BR>
  Telephone: (617)&nbsp;494-0171<BR>
  (Name, address, including zip code, and telephone number, including area code,<BR>
  of agent for service)<BR>
  <DIV align="center"><DIV style="font-size: 3pt; margin-top: 16pt; width: 26%; border-top: 1px solid #000000">&nbsp;</DIV></DIV></DIV>
  
  <DIV align="center" style="font-size: 10pt; margin-top: 12pt">Copies to:</DIV>
  
  <DIV align="center">
  <TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
  <!-- Begin Table Head -->
  <TR valign="bottom">
      <TD width="48%">&nbsp;</TD>
      <TD width="2%">&nbsp;</TD>
      <TD width="50%">&nbsp;</TD>
  </TR>
  <!-- End Table Head -->
  <!-- Begin Table Body -->
  <TR valign="bottom">
      <TD><DIV style="margin-left:15px; text-indent:-15px">Mitchell S. Bloom, Esq.</DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">Kathryn L. Biberstein, Esq.</TD>
  </TR>
  <TR valign="bottom">
      <TD><DIV style="margin-left:15px; text-indent:-15px">Robert E. Puopolo</DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">Alkermes, Inc.</TD>
  </TR>
  <TR valign="bottom">
      <TD><DIV style="margin-left:15px; text-indent:-15px">Goodwin Procter LLP</DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">88 Sidney Street</TD>
  </TR>
  <TR valign="bottom">
      <TD><DIV style="margin-left:15px; text-indent:-15px">53 State Street</DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">Cambridge, MA 02139</TD>
  </TR>
  <TR valign="bottom">
      <TD><DIV style="margin-left:15px; text-indent:-15px">Boston, MA 02109</DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">Telephone: (617) 583-6255</TD>
  </TR>
  <TR valign="bottom">
      <TD><DIV style="margin-left:15px; text-indent:-15px">Telephone: (617)&nbsp;570-1055</DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">&nbsp;</TD>
  </TR>
  <!-- End Table Body -->
  </TABLE>
  </DIV>
  
  
  <DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>CALCULATION OF REGISTRATION FEE</B>
  </DIV>
  
  <DIV align="center">
  <TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
  <!-- Begin Table Head -->
  <TR valign="bottom">
      <TD width="1%">&nbsp;</TD>
      <TD width="54%">&nbsp;</TD>
      <TD width="2%">&nbsp;</TD><!-- VRule -->
      <TD width="2%">&nbsp;</TD>
      <TD width="3%">&nbsp;</TD>
      <TD width="1%">&nbsp;</TD>
      <TD width="3%">&nbsp;</TD>
      <TD width="2%">&nbsp;</TD><!-- VRule -->
      <TD width="2%">&nbsp;</TD>
      <TD width="3%">&nbsp;</TD>
      <TD width="1%">&nbsp;</TD>
      <TD width="3%">&nbsp;</TD>
      <TD width="2%">&nbsp;</TD><!-- VRule -->
      <TD width="2%">&nbsp;</TD>
      <TD width="3%">&nbsp;</TD>
      <TD width="1%">&nbsp;</TD>
      <TD width="3%">&nbsp;</TD>
      <TD width="2%">&nbsp;</TD><!-- VRule -->
      <TD width="2%">&nbsp;</TD>
      <TD width="3%">&nbsp;</TD>
      <TD width="1%">&nbsp;</TD>
      <TD width="3%">&nbsp;</TD>
  
      <TD width="1%">&nbsp;</TD>
  </TR><TR style="font-size: 1px" valign="bottom">
      <TD nowrap align="left" colspan="23" style="border-bottom: 3px double #000000">&nbsp;</TD>
  </TR>
  <TR style="font-size: 8pt" valign="bottom">    <TD width="1%">&nbsp;</TD>
  
      <TD>&nbsp;</TD>
      <TD style="border-right: 2px solid #000000">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD style="border-right: 2px solid #000000">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="center" colspan="3">Proposed Maximum</TD>
      <TD style="border-right: 2px solid #000000">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="center" colspan="3">Proposed Maximum</TD>
      <TD style="border-right: 2px solid #000000">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="center" colspan="3">&nbsp;</TD>
      <TD width="1%">&nbsp;</TD>
  </TR>
  <TR style="font-size: 8pt" valign="bottom">    <TD width="1%">&nbsp;</TD>
  
      <TD>&nbsp;</TD>
      <TD style="border-right: 2px solid #000000">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="center" colspan="3">Amount to be</TD>
      <TD style="border-right: 2px solid #000000">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="center" colspan="3">Offering Price Per</TD>
      <TD style="border-right: 2px solid #000000">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="center" colspan="3">Aggregate Offering</TD>
      <TD style="border-right: 2px solid #000000">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="center" colspan="3">Amount of</TD>
      <TD width="1%">&nbsp;</TD>
  </TR>
  <TR style="font-size: 8pt" valign="bottom">    <TD width="1%">&nbsp;</TD>
  
      <TD nowrap align="left">Title of Securities</TD>
      <TD style="border-right: 2px solid #000000">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="center" colspan="3">Registered (1)</TD>
      <TD style="border-right: 2px solid #000000">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="center" colspan="3">Share</TD>
      <TD style="border-right: 2px solid #000000">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="center" colspan="3">Price</TD>
      <TD style="border-right: 2px solid #000000">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="center" colspan="3">Registration Fee</TD>
      <TD width="1%">&nbsp;</TD>
  </TR>
  
  <!-- End Table Head -->
  <!-- Begin Table Body -->
  <TR valign="bottom">
      <TD width="1%" style="border-top: 2px solid #000000">&nbsp;</TD>
                      <TD valign="top" style="border-top: 2px solid #000000"><DIV style="margin-left:0px; text-indent:-0px">Common Stock
  </DIV></TD>
      <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
      <TD style="border-top: 2px solid #000000">&nbsp;</TD>
      <TD nowrap align="right" valign="top" style="border-top: 2px solid #000000">&nbsp;</TD>
      <TD align="right" valign="top" style="border-top: 2px solid #000000">240,000</TD>
      <TD nowrap valign="top" style="border-top: 2px solid #000000">&nbsp;</TD>
      <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
      <TD style="border-top: 2px solid #000000">&nbsp;</TD>
      <TD nowrap align="right" valign="top" style="border-top: 2px solid #000000">$</TD>
      <TD align="right" valign="top" style="border-top: 2px solid #000000">14.69</TD>
      <TD nowrap valign="top" style="border-top: 2px solid #000000">(2)</TD>
      <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
      <TD style="border-top: 2px solid #000000">&nbsp;</TD>
      <TD nowrap align="right" valign="top" style="border-top: 2px solid #000000">$</TD>
      <TD align="right" valign="top" style="border-top: 2px solid #000000">3,525,600</TD>
      <TD nowrap valign="top" style="border-top: 2px solid #000000">&nbsp;</TD>
      <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
      <TD style="border-top: 2px solid #000000">&nbsp;</TD>
      <TD nowrap align="right" valign="top" style="border-top: 2px solid #000000">$</TD>
      <TD align="right" valign="top" style="border-top: 2px solid #000000">377.24</TD>
      <TD nowrap valign="top" style="border-top: 2px solid #000000">&nbsp;</TD>
      <TD width="1%" style="border-top: 2px solid #000000">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
      <TD width="1%" style="border-top: 2px solid #000000">&nbsp;</TD>
      <TD valign="top" style="border-top: 2px solid #000000"><DIV style="margin-left:0px; text-indent:-0px">Totals:
  </DIV></TD>
      <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
      <TD style="border-top: 2px solid #000000">&nbsp;</TD>
      <TD nowrap align="right" valign="top" style="border-top: 2px solid #000000">&nbsp;</TD>
      <TD align="right" valign="top" style="border-top: 2px solid #000000">240,000</TD>
      <TD nowrap valign="top" style="border-top: 2px solid #000000">&nbsp;</TD>
      <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
      <TD style="border-top: 2px solid #000000">&nbsp;</TD>
      <TD nowrap align="right" valign="top" style="border-top: 2px solid #000000">&nbsp;</TD>
      <TD align="right" valign="top" style="border-top: 2px solid #000000">&nbsp;</TD>
      <TD valign="top" style="border-top: 2px solid #000000">&nbsp;</TD>
      <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
      <TD style="border-top: 2px solid #000000">&nbsp;</TD>
      <TD nowrap align="right" valign="top" style="border-top: 2px solid #000000">$</TD>
      <TD align="right" valign="top" style="border-top: 2px solid #000000">3,525,600</TD>
      <TD nowrap valign="top" style="border-top: 2px solid #000000">&nbsp;</TD>
      <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
      <TD style="border-top: 2px solid #000000">&nbsp;</TD>
      <TD nowrap align="right" valign="top" style="border-top: 2px solid #000000">$</TD>
      <TD align="right" valign="top" style="border-top: 2px solid #000000">377.24</TD>
      <TD nowrap valign="top" style="border-top: 2px solid #000000">&nbsp;</TD>
      <TD width="1%" style="border-top: 2px solid #000000">&nbsp;</TD>
  </TR>
  <TR style="font-size: 1px" valign="bottom">
      <TD nowrap align="left" colspan="23" style="border-top: 3px double #000000">&nbsp;</TD>
  </TR>
  
  <!-- End Table Body -->
  </TABLE>
  </DIV>
  
  
  
  <TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
  <TR>
      <TD width="3%"></TD>
      <TD width="1%"></TD>
      <TD width="96"></TD>
  </TR>
  
  <TR valign="top">
      <TD nowrap align="left">(1)</TD>
      <TD>&nbsp;</TD>
      <TD>Pursuant to Rule&nbsp;416 under the Securities Act of 1933, this
  registration statement shall also be deemed to cover an indeterminate
  number of additional shares of Common Stock issuable in the event the
  number of outstanding shares of the Company is increased by split-up,
  reclassification, stock dividend, recapitalization, and certain other
  capital adjustments and the like.</TD>
  </TR>
  
  <TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>
  
  <TR valign="top">
      <TD nowrap align="left">(2)</TD>
      <TD>&nbsp;</TD>
      <TD>Estimated solely for the purpose of calculating the registration fee.
  In accordance with Rules 457(c) and 457(h), the proposed maximum
  offering price per share, the proposed maximum aggregate offering
  price, and the registration fee shown has been computed based upon the
  average of the high and low sales price of the Company&#146;s Common Stock
  on September&nbsp;15, 2006, $14.69, as reported on the Nasdaq Global Market
  with respect to securities for which options have not been granted.</TD>
  </TR>
  
  </TABLE>
  
  
  
  <DIV style="width: 100%; border-bottom: 1pt solid black; margin-top: 10pt; font-size: 1pt">&nbsp;</DIV>
  <DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>
  
  
  
  
  
  <P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
  </DIV>
  
  <!-- PAGEBREAK -->
  <P><HR noshade><P>
  
  <DIV style="font-family: 'Times New Roman',Times,serif">
  
  <!-- TOC -->
  <A name="toc"><DIV align="CENTER" style="page-break-before:always"><U><B>TABLE OF CONTENTS</B></U></DIV></A>
  
  <P><CENTER>
  <TABLE border="0" width="90%" cellpadding="0" cellspacing="0">
  <TR>
  	<TD width="3%"></TD>
  	<TD width="3%"></TD>
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  	<TD width="3%"></TD>
  	<TD width="76%"></TD>
  </TR>
  <TR><TD colspan="9"><A HREF="#000">PART I</A></TD></TR>
  <TR><TD></TD><TD colspan="8"><A HREF="#001">Item&nbsp;1. <U>Plan Information</U>.</A></TD></TR>
  <TR><TD></TD><TD colspan="8"><A HREF="#002">Item&nbsp;2. <U>Company Information and Employee Plan Annual Information</U>.</A></TD></TR>
  <TR><TD colspan="9"><A HREF="#003">PART II</A></TD></TR>
  <TR><TD></TD><TD colspan="8"><A HREF="#004">Item&nbsp;3. <U>Incorporation of Documents by Reference</U>.</A></TD></TR>
  <TR><TD></TD><TD colspan="8"><A HREF="#005">Item&nbsp;4. <U>Description of Securities</U>.</A></TD></TR>
  <TR><TD></TD><TD colspan="8"><A HREF="#006">Item&nbsp;5. <U>Interests of Named Experts and Counsel</U>.</A></TD></TR>
  <TR><TD></TD><TD colspan="8"><A HREF="#007">Item&nbsp;6. <U>Indemnification of Directors and Officers</U>.</A></TD></TR>
  <TR><TD></TD><TD colspan="8"><A HREF="#008">Item&nbsp;7. <U>Exemption from Registration Claimed</U>.</A></TD></TR>
  <TR><TD></TD><TD colspan="8"><A HREF="#009">Item&nbsp;8. <U>Exhibits</U>.</A></TD></TR>
  <TR><TD></TD><TD colspan="8"><A HREF="#010">Item&nbsp;9. <U>Undertakings</U>.</A></TD></TR>
  <TR><TD colspan="9"><A HREF="#011">SIGNATURES</A></TD></TR>
  <TR><TD colspan="9"><A HREF="#012">POWER OF ATTORNEY AND SIGNATURES</A></TD></TR>
  <TR><TD colspan="9"><A HREF="#013">INDEX TO EXHIBITS</A></TD></TR>
  <TR><TD colspan="9"><A HREF="b62447a3exv5w1.htm">Ex-5.1 Opinion of Ballard Spahr Andrews & Ingersoll</A></TD></TR>
  <TR><TD colspan="9"><A HREF="b62447a3exv23w2.htm">Ex-23.2 Consent of Deloitte & Touche LLP</A></TD></TR>
  </TABLE>
  </CENTER>
  <!-- /TOC -->
  <P><HR noshade><P>
  <H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>
  
  
  
  
  
  <!-- link1 "PART I" -->
  <DIV align="left"><A NAME="000"></A></DIV>
  
  <DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>PART I</B>
  </DIV>
  
  <!-- link2 "Item&nbsp;1. <U>Plan Information</U>." -->
  <DIV align="left"><A NAME="001"></A></DIV>
  
  <DIV align="left" style="font-size: 10pt; margin-top: 12pt">Item&nbsp;1. <U>Plan Information</U>.
  </DIV>
  
  <DIV align="left" style="font-size: 10pt; margin-top: 6pt">The documents containing the information specified in this Item&nbsp;1 will be sent or given to
  non-employee directors and others as specified by Rule&nbsp;428(b)(1). In accordance with the rules and
  regulations of the Securities and Exchange Commission (the &#147;Commission&#148;) and the instructions to
  Form S-8, such documents are not being filed with the Commission either as part of this
  Registration Statement or as prospectuses or prospectus supplements pursuant to Rule&nbsp;424.
  </DIV>
  
  <!-- link2 "Item&nbsp;2. <U>Company Information and Employee Plan Annual Information</U>." -->
  <DIV align="left"><A NAME="002"></A></DIV>
  
  <DIV align="left" style="font-size: 10pt; margin-top: 12pt">Item&nbsp;2. <U>Company Information and Employee Plan Annual Information</U>.
  </DIV>
  
  <DIV align="left" style="font-size: 10pt; margin-top: 6pt">The documents containing the information specified in this Item&nbsp;2 will be sent or given to
  non-employee directors and others as specified by Rule&nbsp;428(b). In accordance with the rules and
  regulations of the Commission and the instructions to Form S-8, such documents are not being filed
  with the Commission either as part of this Registration Statement or as prospectuses or prospectus
  supplements pursuant to Rule&nbsp;424.
  </DIV>
  
  <!-- link1 "PART II" -->
  <DIV align="left"><A NAME="003"></A></DIV>
  
  <DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>PART II</B>
  </DIV>
  
  
  <DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><B>INFORMATION REQUIRED IN THE REGISTRATION STATEMENT</B>
  
  </DIV>
  <!-- link2 "Item&nbsp;3. <U>Incorporation of Documents by Reference</U>." -->
  <DIV align="left"><A NAME="004"></A></DIV>
  
  <DIV align="left" style="font-size: 10pt; margin-top: 12pt">Item&nbsp;3. <U>Incorporation of Documents by Reference</U>.
  </DIV>
  
  <DIV align="left" style="font-size: 10pt; margin-top: 6pt">The following documents filed with the Commission pursuant to the Securities Exchange Act of 1934,
  as amended (the &#147;Exchange Act&#148;) by Alkermes, Inc. (the &#147;Company&#148;) (File No.&nbsp;1-14131) or pursuant to
  the Securities Act of 1933, as amended (the &#147;Securities Act&#148;) are incorporated herein by reference:
  </DIV>
  
  
  <DIV style="margin-top: 6pt">
  <TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
  
  <TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
      <TD width="1%" nowrap align="left">(a)</TD>
      <TD width="1%">&nbsp;</TD>
      <TD>Annual Report on Form 10-K for the fiscal year ended March&nbsp;31, 2006
  filed on June&nbsp;14, 2006 and as amended by an Amendment No.&nbsp;1 to Annual
  Report on Form 10-K/A for the fiscal year ended March&nbsp;31, 2006 filed
  on August&nbsp;14, 2006;</TD>
  </TR>
  
  <TR>
      <TD style="font-size: 6pt">&nbsp;</TD>
  </TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
      <TD width="1%" nowrap align="left">(b)</TD>
      <TD width="1%">&nbsp;</TD>
      <TD>Quarterly Report on Form 10-Q for the period ended June&nbsp;30, 2006;</TD>
  </TR>
  
  <TR>
      <TD style="font-size: 6pt">&nbsp;</TD>
  </TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
      <TD width="1%" nowrap align="left">(c)</TD>
      <TD width="1%">&nbsp;</TD>
      <TD>All other documents filed by the Company pursuant to 13(a) or 15(d) of
  the Exchange Act since the end of the fiscal year covered by the
  document referred to in (a)&nbsp;above; and</TD>
  </TR>
  
  <TR>
      <TD style="font-size: 6pt">&nbsp;</TD>
  </TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
      <TD width="1%" nowrap align="left">(d)</TD>
      <TD width="1%">&nbsp;</TD>
      <TD>Item&nbsp;1 of Registration Statement of the Company on Form 8-A dated June
  28, 1991, as amended by a Registration Statement of the Company on
  Form 8-A/A dated January&nbsp;17, 1997; and Item&nbsp;1 of Registration
  Statement of the Company on Form 8-A dated May&nbsp;2, 2003.</TD>
  </TR>
  
  </TABLE>
  </DIV>
  <DIV align="left" style="font-size: 10pt; margin-top: 6pt">All documents filed by the Company pursuant to Sections&nbsp;13(a), 13(c), 14 or 15(d) of the Exchange
  Act, after the date of this Registration Statement and prior to the filing of a post-effective
  amendment which indicates that all securities offered herein have been sold or which deregisters
  all securities then remaining unsold, shall be deemed to be incorporated by reference herein and to
  be part hereof from the date of filing such documents. Any statement contained herein or in a
  document incorporated by reference or deemed to be incorporated by reference herein shall be deemed
  to be modified or superseded for purposes of this Registration Statement to the extent that such
  statement is modified or superseded by any other subsequently filed document which is incorporated
  or is deemed to be incorporated by reference herein. Any such statement so modified or superseded
  shall not be deemed, except as so modified or superseded, to constitute a part of this Registration
  Statement.
  </DIV>
  
  <!-- link2 "Item&nbsp;4. <U>Description of Securities</U>." -->
  <DIV align="left"><A NAME="005"></A></DIV>
  
  <DIV align="left" style="font-size: 10pt; margin-top: 12pt">Item&nbsp;4. <U>Description of Securities</U>.
  </DIV>
  
  
  <DIV align="left" style="font-size: 10pt; margin-top: 6pt">Not Applicable
  </DIV>
  
  
  <P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
  </DIV>
  
  <!-- PAGEBREAK -->
  <P><HR noshade><P>
  <H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>
  
  <DIV style="font-family: 'Times New Roman',Times,serif">
  
  
  
  <!-- link2 "Item&nbsp;5. <U>Interests of Named Experts and Counsel</U>." -->
  <DIV align="left"><A NAME="006"></A></DIV>
  
  <DIV align="left" style="font-size: 10pt; margin-top: 6pt">Item&nbsp;5. <U>Interests of Named Experts and Counsel</U>.
  </DIV>
  
  
  <DIV align="left" style="font-size: 10pt; margin-top: 6pt">Not Applicable.
  </DIV>
  
  <!-- link2 "Item&nbsp;6. <U>Indemnification of Directors and Officers</U>." -->
  <DIV align="left"><A NAME="007"></A></DIV>
  
  <DIV align="left" style="font-size: 10pt; margin-top: 12pt">Item&nbsp;6. <U>Indemnification of Directors and Officers</U>.
  </DIV>
  
  <DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Pennsylvania Business Corporation Law of 1988, as amended, authorizes the Company to grant
  indemnification to directors and officers in terms sufficiently broad to permit such
  indemnification under certain circumstances for liabilities (including reimbursement for expenses
  incurred) arising under the Securities Act of 1933, as amended. The Company has also obtained
  Directors&#146; and Officers&#146; Liability Insurance in the amount
  of $40,000,000 which insures its
  officers and directors against certain liabilities such persons may incur in their capacities as
  officers or directors of the Company. In addition, the Company&#146;s By-laws contain the following
  provisions:
  </DIV>
  
  
  <DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;5.1 INDEMNIFICATION OF DIRECTORS, OFFICERS, AND OTHER PERSONS. The Corporation shall
  indemnify any director, officer, employee or agent of the Corporation or any of its subsidiaries
  who was or is an &#147;authorized representative&#148; of the Corporation (which shall mean, for the purpose
  of this Article, a director or officer of the Corporation, or a person serving at the request of
  the Corporation as a director, officer, partner, fiduciary or trustee of another corporation,
  partnership, joint venture, trust, employee benefit plan or other enterprise) and who was or is a
  &#147;party&#148; (which shall include for purposes of this Article the giving of testimony or similar
  involvement) or is threatened to be made a party to any &#147;proceeding&#148; (which shall mean for purposes
  of this Article any threatened, pending or completed action, suit, appeal or other proceeding of
  any nature, whether civil, criminal, administrative or investigative, whether formal or informal,
  and whether brought by or in the right of the Corporation, its shareholders or otherwise) by reason
  of the fact that such person was or is an authorized representative of the Corporation to the
  fullest extent permitted by law, including without limitation indemnification against expenses
  (which shall include for purposes of this Article attorneys&#146; fees and disbursements), damages,
  punitive damages, judgments, penalties, fines and amounts paid in settlement actually and
  reasonably incurred by such person in connection with such proceeding unless the act or failure to
  act giving rise to the claim is finally determined by a court to have constituted willful
  misconduct or recklessness. If an authorized representative is not entitled to indemnification in
  respect of a portion of any liabilities to which such person may be subject, the Corporation shall
  nonetheless indemnify such person to the maximum extent for the remaining portion of the
  liabilities.
  </DIV>
  
  <DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;5.2 ADVANCEMENT OF EXPENSES. The Corporation shall pay the expenses (including attorneys&#146;
  fees and disbursements) actually and reasonably incurred in defending a proceeding on behalf of any
  person entitled to indemnification under Section&nbsp;5.1 in advance of the final disposition of such
  proceeding upon receipt of an undertaking by or on behalf of such person to repay such amount if it
  shall ultimately be determined that such person is not entitled to be indemnified by the
  Corporation as authorized in this Article and may pay such expenses in advance on behalf of any
  employee or agent on receipt of a similar undertaking. The financial ability of such authorized
  representative to make such repayment shall not be prerequisite to the making of an advance.
  </DIV>
  
  <DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;5.3 EMPLOYEE BENEFIT PLANS. For purposes of this Article, the Corporation shall be deemed to
  have requested an officer, director, employee or agent to serve as fiduciary with respect to an
  employee benefit plan where the performance by such person of duties to the Corporation also
  imposes duties on, or otherwise involves services by, such person as a fiduciary with respect to
  the plan; excise taxes assessed on an authorized representative with respect to any transaction
  with an employee benefit plan shall be deemed &#147;fines&#148;; and action taken or omitted by such person
  with respect to an employee benefit plan in the performance of duties for a purpose reasonably
  believed to be in the interest of the participants and beneficiaries of the plan shall be deemed to
  be for a purpose which is not opposed to the best interests of the Corporation.
  </DIV>
  
  <DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;5.4 SECURITY FOR INDEMNIFICATION OBLIGATIONS. To further effect, satisfy or secure the
  indemnification obligations provided herein or otherwise, the Corporation may maintain insurance,
  obtain a letter of credit, act as self-insurer, create a reserve, trust, escrow, cash collateral or
  other fund or account, enter into indemnification agreements, pledge or grant a security interest
  in any assets or properties of the Corporation, or use
  </DIV>
  
  <P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
  </DIV>
  
  <!-- PAGEBREAK -->
  <P><HR noshade><P>
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  <DIV style="font-family: 'Times New Roman',Times,serif">
  
  
  
  <DIV align="left" style="font-size: 10pt; margin-top: 6pt">any other mechanism or arrangement whatsoever in such amounts, at such costs, and upon such other
  terms and conditions as the Board of Directors shall deem appropriate.
  </DIV>
  
  <DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;5.5 RELIANCE UPON PROVISIONS. Each person who shall act as an authorized representative of
  the Corporation shall be deemed to be doing so in reliance upon the rights of indemnification
  provided by this Article.
  </DIV>
  
  <DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;5.6 AMENDMENT OR REPEAL. All rights of indemnification under this Article shall be deemed a
  contract between the Corporation and the person entitled to indemnification under this Article
  pursuant to which the Corporation and each such person intend to be legally bound. Any repeal,
  amendment or modification hereof shall be prospective only and shall not limit, but may expand, any
  rights or obligations in respect of any proceeding whether commenced prior to or after such change
  to the extent such proceeding pertains to actions or failures to act occurring prior to such
  change.
  </DIV>
  
  <DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;5.7 SCOPE OF ARTICLE. The indemnification, as authorized by this Article, shall not be deemed
  exclusive of any other rights to which those seeking indemnification or advancement of expenses may
  be entitled under any statute, agreement, vote of shareholders or disinterested directors or
  otherwise, both as to action in an official capacity and as to action in any other capacity while
  holding such office. The indemnification and advancement of expenses provided by, or granted
  pursuant to, this Article shall continue as to a person who has ceased to be an officer, director,
  employee or agent in respect of matters arising prior to such time, and shall inure to the benefit
  of the heirs, executors and administrators of such person.&#148;
  </DIV>
  <!-- link2 "Item&nbsp;7. <U>Exemption from Registration Claimed</U>." -->
  <DIV align="left"><A NAME="008"></A></DIV>
  
  <DIV align="left" style="font-size: 10pt; margin-top: 12pt">Item&nbsp;7. <U>Exemption from Registration Claimed</U>.
  </DIV>
  
  
  <DIV align="left" style="font-size: 10pt; margin-top: 6pt">Not Applicable.
  </DIV>
  
  <!-- link2 "Item&nbsp;8. <U>Exhibits</U>." -->
  <DIV align="left"><A NAME="009"></A></DIV>
  
  <DIV align="left" style="font-size: 10pt; margin-top: 12pt">Item&nbsp;8. <U>Exhibits</U>.
  </DIV>
  
  
  <DIV align="left" style="font-size: 10pt; margin-top: 6pt">Reference is made to the Exhibit&nbsp;Index.
  </DIV>
  
  <!-- link2 "Item&nbsp;9. <U>Undertakings</U>." -->
  <DIV align="left"><A NAME="010"></A></DIV>
  
  <DIV align="left" style="font-size: 10pt; margin-top: 12pt">Item&nbsp;9.
  <U>Undertakings</U>.
  </DIV>
  
  
  <DIV style="margin-top: 6pt">
  <TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
  
  <TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
      <TD width="1%" nowrap align="left">(a)</TD>
      <TD width="1%">&nbsp;</TD>
      <TD>The undersigned Company hereby undertakes:</TD>
  </TR>
  
  </TABLE>
  </DIV>
  
  
  <DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">(1)&nbsp;To file, during any period in which offers or sales are being made, a post-effective amendment
  to this Registration Statement:
  </DIV>
  
  
  <DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">(i)&nbsp;To include any prospectus required by Section&nbsp;10(a)(3) of the Securities Act of 1933;
  </DIV>
  
  
  <DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">(ii)&nbsp;To reflect in the prospectus any facts or events arising after the effective date of the
  Registration Statement (or the most recent post-effective amendment thereof) which, individually
  or in the aggregate, represent a fundamental change in the information set forth in the
  Registration Statement. Notwithstanding the foregoing, any increase or decrease in volume of
  securities offered (if the total dollar value of securities offered would not exceed that which
  was registered) and any deviation from the low or high end of the estimated maximum offering
  range may be reflected in the form of prospectus filed with the Commission pursuant to Rule
  424(b) if, in the aggregate, the changes in volume and price represent no more than a 20% change
  in the maximum aggregate offering price set forth in the &#147;Calculation of Registration Fee&#148; table
  in the effective Registration Statement.
  </DIV>
  
  
  <DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">(iii)&nbsp;To include any material information with respect to the plan of distribution not
  previously disclosed in the Registration Statement or any material change to such information in
  the Registration Statement;
  </DIV>
  
  
  <DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%"><I>Provided, however, that: </I>paragraphs (a)(1)(i) and (a)(1)(ii) do not apply if the information
  required to be included in a post-effective amendment by those paragraphs is contained in
  reports filed with or furnished to the
  </DIV>
  
  <P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
  </DIV>
  
  <!-- PAGEBREAK -->
  <P><HR noshade><P>
  <H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>
  
  <DIV style="font-family: 'Times New Roman',Times,serif">
  
  
  
  <DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">Commission by the Company pursuant to Section&nbsp;13 or Section 15(d) of the Securities Exchange Act
  of 1934 (15 U.S.C. 78m or 78o(d)) that are incorporated by reference in the Registration
  Statement.
  </DIV>
  
  
  <DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">(2)&nbsp;That, for the purpose of determining any liability under the Securities Act of 1933, each such
  post-effective amendment shall be deemed to be a new Registration Statement relating to the
  securities offered therein, and the offering of such securities at that time shall be deemed to be
  the initial bona fide offering thereof.
  </DIV>
  
  
  <DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">(3)&nbsp;To remove from registration by means of a post-effective amendment any of the securities being
  registered which remain unsold at the termination of the offering.
  </DIV>
  <DIV align="left" style="font-size: 10pt; margin-top: 6pt">(b)&nbsp;The undersigned Company hereby undertakes that, for purposes of determining liability under
  the Securities Act of 1933, each filing of the Company&#146;s annual report pursuant to Section 13(a) or
  Section 15(d) of the Securities Exchange Act of 1934 (and, where applicable, each filing of an
  employee benefit plan&#146;s annual report pursuant to Section 15(d) of the Securities Exchange Act of
  1934) that is incorporated by reference in this Registration Statement shall be deemed to be a new
  Registration Statement relating to the securities offered herein, and the offering of such
  securities at that time shall be deemed to be the initial <I>bona fide </I>offering thereof.
  </DIV>
  
  <DIV align="left" style="font-size: 10pt; margin-top: 6pt">(c)&nbsp;Insofar as indemnification for liabilities arising under the Securities Act of 1933 may be
  permitted to directors, officers and controlling persons of the Company pursuant to the foregoing
  provisions, or otherwise, the Company has been advised that in the opinion of the Securities and
  Exchange Commission such indemnification is against public policy as expressed in the Act and is,
  therefore, unenforceable. In the event that a claim for indemnification against such liabilities
  (other than the payment by the Company of expenses incurred or paid by a director, officer or
  controlling person of the Company in the successful defense of any action, suit or proceeding) is
  asserted by such director, officer or controlling person in connection with the securities being
  registered, the Company will, unless in the opinion of its counsel the matter has been settled by
  controlling precedent, submit to a court of appropriate jurisdiction the question whether such
  indemnification by it is against public policy as expressed in the Act and will be governed by the
  final adjudication of such issue.
  </DIV>
  
  
  <P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
  </DIV>
  
  <!-- PAGEBREAK -->
  <P><HR noshade><P>
  <H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>
  
  <DIV style="font-family: 'Times New Roman',Times,serif">
  
  
  
  <!-- link1 "SIGNATURES" -->
  <DIV align="left"><A NAME="011"></A></DIV>
  
  <DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>SIGNATURES</B>
  </DIV>
  
  <DIV align="left" style="font-size: 10pt; margin-top: 6pt">Pursuant to the requirements of the Securities Act of 1933, the Company certifies that it has
  reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and has
  duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto
  duly authorized, in the City of Cambridge, in the Commonwealth of Massachusetts, on this
  21<SUP style="font-size: 85%; vertical-align: text-top">st</SUP> day of September&nbsp;2006.
  </DIV>
  
  
  <TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
  <TR>
      <TD width="48%">&nbsp;</TD>
      <TD width="1%">&nbsp;</TD>
      <TD width="1%">&nbsp;</TD>
      <TD width="35%">&nbsp;</TD>
      <TD width="15%">&nbsp;</TD>
  </TR>
  <TR>
      <TD valign="top" align="left">&nbsp;</TD>
      <TD colspan="3" align="left">ALKERMES, INC.<BR>
  &nbsp;</TD>
      <TD>&nbsp;</TD>
  </TR><TR>
      <TD align="left">&nbsp;</TD>
      <TD valign="top">By:&nbsp;&nbsp;</TD>
      <TD colspan="2" style="border-bottom: 1px solid #000000" align="left">/s/ Richard F. Pops
  &nbsp;</TD>
      <TD>&nbsp;</TD>
  </TR><TR>
      <TD align="left">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD colspan="2" align="left">Richard F. Pops&nbsp;</TD>
      <TD>&nbsp;</TD>
  </TR><TR>
      <TD align="left">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD colspan="2" align="left">Chief Executive Officer&nbsp;</TD>
      <TD>&nbsp;</TD>
  </TR>
  <TR>
      <TD colspan="5">&nbsp;</TD>
  </TR>
  </TABLE>
  <!-- link1 "POWER OF ATTORNEY AND SIGNATURES" -->
  <DIV align="left"><A NAME="012"></A></DIV>
  
  <DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>POWER OF ATTORNEY AND SIGNATURES</B>
  </DIV>
  
  <DIV align="left" style="font-size: 10pt; margin-top: 6pt">Pursuant to the requirements of the Securities Act of 1933, this Registration Statement has
  been signed below by the following persons in the capacities and on the dates indicated.
  </DIV>
  
  <DIV align="left" style="font-size: 10pt; margin-top: 6pt">Each person whose signature appears below in so signing also makes, constitutes and appoints
  Richard F. Pops and James M. Frates, and each of them, his true and lawful attorney-in-fact, with
  full power of substitution, for him in any and all capacities, to execute and cause to be filed
  with the Securities and Exchange Commission any and all amendments and post-effective amendments to
  this Registration Statement, with exhibits thereto and other documents in connection therewith, and
  hereby ratifies and confirms all that said attorney-in-fact or his substitute or substitutes may do
  or cause to be done by virtue hereof.
  </DIV>
  
  <DIV align="center">
  <TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
  <!-- Begin Table Head -->
  <TR valign="bottom">
      <TD width="35%">&nbsp;</TD>
      <TD width="3%">&nbsp;</TD>
      <TD width="40%">&nbsp;</TD>
      <TD width="3%">&nbsp;</TD>
      <TD width="19%">&nbsp;</TD>
  </TR>
  <TR style="font-size: 8pt" valign="bottom">
      <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>SIGNATURE</B></TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>TITLE</B></TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>DATE</B></TD>
  </TR>
  
  <!-- End Table Head -->
  <!-- Begin Table Body -->
  <TR valign="bottom"><!-- Blank Space -->
      <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
      <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ Michael A. Wall
  <DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
  Michael A. Wall
  </DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">Director and Chairman of the Board&nbsp;
  </TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">September&nbsp;21, 2006</TD>
  </TR>
  <TR valign="bottom"><!-- Blank Space -->
      <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
      <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ Richard F. Pops
  <DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
  Richard F. Pops
  </DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">Director and Chief Executive
  Officer<br>
  (Principal Executive Officer)
  </TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">September&nbsp;21, 2006</TD>
  </TR>
  <TR valign="bottom"><!-- Blank Space -->
      <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
      <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ James M. Frates
  <DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
  James M. Frates
  </DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">Vice President, Chief Financial Officer and
  Treasurer
  (Principal Financial and Accounting Officer)
  </TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">September&nbsp;21, 2006</TD>
  </TR>
  <TR valign="bottom"><!-- Blank Space -->
      <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
      <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ Floyd E. Bloom
  <DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
  Floyd E. Bloom
  </DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">Director&nbsp;
  </TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">September&nbsp;21, 2006</TD>
  </TR>
  <TR valign="bottom"><!-- Blank Space -->
      <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
      <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ Robert A. Breyer
  <DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
  Robert A. Breyer
  </DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">Director&nbsp;
  </TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">September&nbsp;21, 2006</TD>
  </TR>
  <TR valign="bottom"><!-- Blank Space -->
      <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
      <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ Gerri Henwood
  <DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
  Gerri Henwood
  </DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">Director&nbsp;
  </TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">September&nbsp;21, 2006</TD>
  </TR>
  <TR valign="bottom"><!-- Blank Space -->
      <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
      <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ Paul J. Mitchell
  <DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
  Paul J. Mitchell
  </DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">Director&nbsp;
  </TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">September&nbsp;21, 2006</TD>
  </TR>
  <TR valign="bottom"><!-- Blank Space -->
      <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
      <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ Alexander Rich
  <DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
  Alexander Rich
  </DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">Director&nbsp;
  </TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">September&nbsp;21, 2006</TD>
  </TR>
  <TR valign="bottom"><!-- Blank Space -->
      <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
      <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ Paul Schimmel
  <DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
  Paul Schimmel
  </DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">Director&nbsp;
  </TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">September&nbsp;21, 2006</TD>
  </TR>
  <TR valign="bottom"><!-- Blank Space -->
      <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
      <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ Mark B. Skaletsky
  <DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
  Mark B. Skaletsky
  </DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">Director&nbsp;
  </TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">September&nbsp;21, 2006</TD>
  </TR>
  <!-- End Table Body -->
  </TABLE>
  </DIV>
  
  
  <P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
  </DIV>
  
  <!-- PAGEBREAK -->
  <P><HR noshade><P>
  <H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>
  
  <DIV style="font-family: 'Times New Roman',Times,serif">
  
  <!-- link1 "INDEX TO EXHIBITS" -->
  <DIV align="left"><A NAME="013"></A></DIV>
  
  <DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>INDEX TO EXHIBITS</B>
  </DIV>
  
  <DIV align="center">
  <TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
  <!-- Begin Table Head -->
  <TR valign="bottom">
      <TD width="1%">&nbsp;</TD>
      <TD width="1%">&nbsp;</TD>
      <TD width="3%">&nbsp;</TD>
      <TD width="5%">&nbsp;</TD>
      <TD width="90%">&nbsp;</TD>
  </TR>
  <TR style="font-size: 8pt" valign="bottom">
      <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000">Exhibit No.</TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="center" style="border-bottom: 1px solid #000000">Description of Exhibit</TD>
  </TR>
  
  <!-- End Table Head -->
  <!-- Begin Table Body -->
  <TR valign="bottom"><!-- Blank Space -->
      <TD nowrap align="right" valign="top">&nbsp;</TD>
      <TD align="right" valign="top">&nbsp;</TD>
      <TD valign="top">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
  </TR>
  <TR valign="bottom">
      <TD colspan="2" align="left" valign="top">4.1</TD>
      <TD nowrap valign="top">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Specimen of Common Stock Certificate of Alkermes, Inc. (Incorporated
  by reference to Exhibit&nbsp;4 to the Company&#146;s Registration Statement on
  Form&nbsp;S-1, as amended (File No.&nbsp;33-40250).)</DIV></TD>
  </TR>
  <TR valign="bottom"><!-- Blank Space -->
      <TD nowrap align="right" valign="top">&nbsp;</TD>
      <TD align="right" valign="top">&nbsp;</TD>
      <TD valign="top">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
  </TR>
  <TR valign="bottom">
      <TD colspan="2" align="left">4.2</TD>
      <TD nowrap valign="top">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Specimen of Non-Voting Common Stock Certificate of Alkermes, Inc.
  (Incorporated by reference to Exhibit&nbsp;4.2 to the Company&#146;s
  Registration Statement on Form&nbsp;S-8, as amended, filed on April&nbsp;22,
  2005).</DIV></TD>
  </TR>
  <TR valign="bottom"><!-- Blank Space -->
      <TD nowrap align="right" valign="top">&nbsp;</TD>
      <TD align="right" valign="top">&nbsp;</TD>
      <TD valign="top">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
  </TR>
  <TR valign="bottom">
      <TD colspan="2" align="left">4.3</TD>
      <TD nowrap valign="top">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Specimen of 2002 Preferred Stock Certificate of Alkermes, Inc.
  (Incorporated by reference to Exhibit&nbsp;4.1 to the Company&#146;s Report on
  Form&nbsp;8-K filed on December&nbsp;13, 2002.)</DIV></TD>
  </TR>
  <TR valign="bottom"><!-- Blank Space -->
      <TD nowrap align="right" valign="top">&nbsp;</TD>
      <TD align="right" valign="top">&nbsp;</TD>
      <TD valign="top">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
  </TR>
  <TR valign="bottom">
      <TD colspan="2" align="left">4.4</TD>
      <TD nowrap valign="top">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Indenture, dated as of February&nbsp;18, 2000, between Alkermes, Inc. and
  State Street Bank and Trust Company, as Trustee. (3.75% Subordinated
  Notes) (Incorporated by reference to Exhibit&nbsp;4.6 to the Company&#146;s
  Registration Statement on Form&nbsp;S-3, as amended, filed on February&nbsp;29,
  2000 (File No.&nbsp;333-31354).)</DIV></TD>
  </TR>
  <TR valign="bottom"><!-- Blank Space -->
      <TD nowrap align="right" valign="top">&nbsp;</TD>
      <TD align="right" valign="top">&nbsp;</TD>
      <TD valign="top">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
  </TR>
  <TR valign="bottom">
      <TD colspan="2" align="left">4.5</TD>
      <TD nowrap valign="top">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Form of 3.75% Subordinated Note (Incorporated by reference to Exhibit
  4.6 to the Company&#146;s Registration Statement on Form&nbsp;S-3, as amended,
  filed on February&nbsp;29, 2000 (File No.&nbsp;333-31354).)</DIV></TD>
  </TR>
  <TR valign="bottom"><!-- Blank Space -->
      <TD nowrap align="right" valign="top">&nbsp;</TD>
      <TD align="right" valign="top">&nbsp;</TD>
      <TD valign="top">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
  </TR>
  <TR valign="bottom">
      <TD colspan="2" align="left">4.6</TD>
      <TD nowrap valign="top">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Rights Agreement, dated as of February&nbsp;7, 2003, as amended, between
  Alkermes, Inc. and EquiServe Trust Co., N.A., as Rights Agent.
  (Incorporated by reference to Exhibit&nbsp;4.1 to the Company&#146;s Report on
  Form&nbsp;8-A filed on May&nbsp;2, 2003.)</DIV></TD>
  </TR>
  <TR valign="bottom"><!-- Blank Space -->
      <TD nowrap align="right" valign="top">&nbsp;</TD>
      <TD align="right" valign="top">&nbsp;</TD>
      <TD valign="top">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
  </TR>
  <TR valign="bottom">
      <TD colspan="2" align="left">4.7</TD>
      <TD nowrap valign="top">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Indenture, dated February&nbsp;1, 2005, between RC Royalty Sub LLC and U.S.
  Bank National Association, as Trustee (Risperdal Consta <SUP style="font-size: 85%; vertical-align: text-top">&#174;</SUP> PhaRMA
  (SM) secured 7% Notes due 2018, Class&nbsp;A). (Incorporated by
  reference to Exhibit&nbsp;4.1 to Company&#146;s Report on Form&nbsp;8-K filed on
  February&nbsp;3, 2005) (File No.&nbsp;001-14131).)</DIV></TD>
  </TR>
  <TR valign="bottom"><!-- Blank Space -->
      <TD nowrap align="right" valign="top">&nbsp;</TD>
      <TD align="right" valign="top">&nbsp;</TD>
      <TD valign="top">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
  </TR>
  <TR valign="bottom">
      <TD colspan="2" align="left">4.8</TD>
      <TD nowrap valign="top">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Form of Risperdal Consta <SUP style="font-size: 85%; vertical-align: text-top">&#174;</SUP> PhaRMA (SM) secured 7% Notes due
  2018, Class&nbsp;A (Incorporated by reference to Exhibit&nbsp;A to Exhibit&nbsp;4.1
  to the Company&#146;s Report on Form&nbsp;8-K filed on February&nbsp;3, 2005) (File
  No.&nbsp;001-14131).)</DIV></TD>
  </TR>
  <TR valign="bottom"><!-- Blank Space -->
      <TD nowrap align="right" valign="top">&nbsp;</TD>
      <TD align="right" valign="top">&nbsp;</TD>
      <TD valign="top">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
  </TR>
  <TR valign="bottom">
      <TD colspan="2" align="left">4.9</TD>
      <TD nowrap valign="top">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Alkermes, Inc. 1999 Stock Option Plan, as amended (Incorporated by
  reference to Exhibit&nbsp;10.1 to the Company&#146;s Report on Form&nbsp;10-Q for the
  quarter ended September&nbsp;30, 2004) (File No.&nbsp;001-14131).)</DIV></TD>
  </TR>
  <TR valign="bottom"><!-- Blank Space -->
      <TD nowrap align="right" valign="top">&nbsp;</TD>
      <TD align="right" valign="top">&nbsp;</TD>
      <TD valign="top">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
  </TR>
  <TR valign="bottom">
      <TD colspan="2" align="left">4.10</TD>
      <TD nowrap valign="top">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Form of Stock Option Certificate pursuant to the 1999 Stock Option
  Plan, as amended (Incorporated by reference to Exhibit&nbsp;10.36 to the
  Company&#146;s Report on Form&nbsp;10-K for the year ended March&nbsp;31, 2006)</DIV></TD>
  </TR>
  <TR valign="bottom"><!-- Blank Space -->
      <TD nowrap align="right" valign="top">&nbsp;</TD>
      <TD align="right" valign="top">&nbsp;</TD>
      <TD valign="top">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
  </TR>
  <TR valign="bottom">
      <TD colspan="2" align="left">5.1</TD>
      <TD nowrap valign="top">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Opinion of Ballard Spahr Andrews &#038; Ingersoll (filed herewith).</DIV></TD>
  </TR>
  <TR valign="bottom"><!-- Blank Space -->
      <TD nowrap align="right" valign="top">&nbsp;</TD>
      <TD align="right" valign="top">&nbsp;</TD>
      <TD valign="top">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
  </TR>
  <TR valign="bottom">
      <TD colspan="2" align="left">23.1</TD>
      <TD nowrap valign="top">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Consent of Ballard Spahr Andrews &#038; Ingersoll (included in Exhibit&nbsp;5.1).</DIV></TD>
  </TR>
  <TR valign="bottom"><!-- Blank Space -->
      <TD nowrap align="right" valign="top">&nbsp;</TD>
      <TD align="right" valign="top">&nbsp;</TD>
      <TD valign="top">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
  </TR>
  <TR valign="bottom">
      <TD colspan="2" align="left">23.2</TD>
      <TD nowrap valign="top">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Consent of Deloitte &#038; Touche LLP (filed herewith).</DIV></TD>
  </TR>
  <TR valign="bottom"><!-- Blank Space -->
      <TD nowrap align="right" valign="top">&nbsp;</TD>
      <TD align="right" valign="top">&nbsp;</TD>
      <TD valign="top">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
  </TR>
  <TR valign="bottom">
      <TD colspan="2" align="left">24.1</TD>
      <TD nowrap valign="top">&nbsp;</TD>
      <TD>&nbsp;</TD>
  
  <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Power
  of Attorney (included in signature page).</DIV></TD>
  </TR>
  
  <!-- End Table Body -->
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  <P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
  </DIV>
  
  
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  </HTML>
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metadata_filer: {"company-data": {"conformed-name": "ALKERMES INC", "cik": "0000874663", "assigned-sic": "2834", "irs-number": "232472830", "state-of-incorporation": "PA", "fiscal-year-end": "0331"}, "filing-values": {"form-type": "S-8", "act": "33", "file-number": "333-137552", "film-number": "061104654"}, "business-address": {"street1": "88 SIDNEY ST", "city": "CAMBRIDGE", "state": "MA", "zip": "02139-4136", "phone": "617-494-0171"}}
text: sv8
  Table of Contents
  As filed with the Securities and Exchange Commission on September 22, 2006
  Registration No. 333-_________
  SECURITIES AND EXCHANGE COMMISSION
  WASHINGTON, D.C. 20549
  FORM S-8
  REGISTRATION STATEMENT UNDER
  THE SECURITIES ACT OF 1933
  Alkermes, Inc.
  (Exact Name of Company as specified in its charter)
  Pennsylvania
  (State or other jurisdiction of incorporation or organization)
  23-2472830
  (I.R.S. Employer Identification No.)
  ALKERMES, INC.
  88 SIDNEY STREET
  CAMBRIDGE, MASSACHUSETTS 02139-4234
  TELEPHONE: (617) 494-0171
  (Address, including zip code, and telephone number, including area code,
  of registrant's principal executive offices)
  ALKERMES, INC. 2006 STOCK OPTION PLAN FOR NON-EMPLOYEE DIRECTORS
  (Full title of the plan)
  Richard F. Pops
  Chief Executive Officer
  ALKERMES, INC.
  88 Sidney Street
  Cambridge, Massachusetts 02139-4234
  Telephone: (617) 494-0171
  (Name, address, including zip code, and telephone number, including area code,
  of agent for service)
  Copies to:
  Mitchell S. Bloom, Esq.
  Kathryn L. Biberstein, Esq.
  Robert E. Puopolo
  Alkermes, Inc.
  Goodwin Procter LLP
  88 Sidney Street
  53 State Street
  Cambridge, MA 02139
  Boston, MA 02109
  Telephone: (617) 583-6255
  Telephone: (617) 570-1055
  CALCULATION OF REGISTRATION FEE
  Proposed Maximum
  Proposed Maximum
  Amount to be
  Offering Price Per
  Aggregate Offering
  Amount of
  Title of Securities
  Registered (1)
  Share
  Price
  Registration Fee
  Common Stock
  240,000
  $
  14.69
  (2)
  $
  3,525,600
  $
  377.24
  Totals:
  240,000
  $
  3,525,600
  $
  377.24
  (1)
  Pursuant to Rule 416 under the Securities Act of 1933, this
  registration statement shall also be deemed to cover an indeterminate
  number of additional shares of Common Stock issuable in the event the
  number of outstanding shares of the Company is increased by split-up,
  reclassification, stock dividend, recapitalization, and certain other
  capital adjustments and the like.
  (2)
  Estimated solely for the purpose of calculating the registration fee.
  In accordance with Rules 457(c) and 457(h), the proposed maximum
  offering price per share, the proposed maximum aggregate offering
  price, and the registration fee shown has been computed based upon the
  average of the high and low sales price of the Company's Common Stock
  on September 15, 2006, $14.69, as reported on the Nasdaq Global Market
  with respect to securities for which options have not been granted.
  TABLE OF CONTENTS
  PART I
  Item 1.
  Plan Information
  .
  Item 2.
  Company Information and Employee Plan Annual Information
  .
  PART II
  Item 3.
  Incorporation of Documents by Reference
  .
  Item 4.
  Description of Securities
  .
  Item 5.
  Interests of Named Experts and Counsel
  .
  Item 6.
  Indemnification of Directors and Officers
  .
  Item 7.
  Exemption from Registration Claimed
  .
  Item 8.
  Exhibits
  .
  Item 9.
  Undertakings
  .
  SIGNATURES
  POWER OF ATTORNEY AND SIGNATURES
  INDEX TO EXHIBITS
  Ex-5.1 Opinion of Ballard Spahr Andrews & Ingersoll
  Ex-23.2 Consent of Deloitte & Touche LLP
  Table of Contents
  PART I
  Item 1.
  Plan Information
  .
  The documents containing the information specified in this Item 1 will be sent or given to
  non-employee directors and others as specified by Rule 428(b)(1). In accordance with the rules and
  regulations of the Securities and Exchange Commission (the "Commission") and the instructions to
  Form S-8, such documents are not being filed with the Commission either as part of this
  Registration Statement or as prospectuses or prospectus supplements pursuant to Rule 424.
  Item 2.
  Company Information and Employee Plan Annual Information
  .
  The documents containing the information specified in this Item 2 will be sent or given to
  non-employee directors and others as specified by Rule 428(b). In accordance with the rules and
  regulations of the Commission and the instructions to Form S-8, such documents are not being filed
  with the Commission either as part of this Registration Statement or as prospectuses or prospectus
  supplements pursuant to Rule 424.
  PART II
  INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
  Item 3.
  Incorporation of Documents by Reference
  .
  The following documents filed with the Commission pursuant to the Securities Exchange Act of 1934,
  as amended (the "Exchange Act") by Alkermes, Inc. (the "Company") (File No. 1-14131) or pursuant to
  the Securities Act of 1933, as amended (the "Securities Act") are incorporated herein by reference:
  (a)
  Annual Report on Form 10-K for the fiscal year ended March 31, 2006
  filed on June 14, 2006 and as amended by an Amendment No. 1 to Annual
  Report on Form 10-K/A for the fiscal year ended March 31, 2006 filed
  on August 14, 2006;
  (b)
  Quarterly Report on Form 10-Q for the period ended June 30, 2006;
  (c)
  All other documents filed by the Company pursuant to 13(a) or 15(d) of
  the Exchange Act since the end of the fiscal year covered by the
  document referred to in (a) above; and
  (d)
  Item 1 of Registration Statement of the Company on Form 8-A dated June
  28, 1991, as amended by a Registration Statement of the Company on
  Form 8-A/A dated January 17, 1997; and Item 1 of Registration
  Statement of the Company on Form 8-A dated May 2, 2003.
  All documents filed by the Company pursuant to Sections 13(a), 13(c), 14 or 15(d) of the Exchange
  Act, after the date of this Registration Statement and prior to the filing of a post-effective
  amendment which indicates that all securities offered herein have been sold or which deregisters
  all securities then remaining unsold, shall be deemed to be incorporated by reference herein and to
  be part hereof from the date of filing such documents. Any statement contained herein or in a
  document incorporated by reference or deemed to be incorporated by reference herein shall be deemed
  to be modified or superseded for purposes of this Registration Statement to the extent that such
  statement is modified or superseded by any other subsequently filed document which is incorporated
  or is deemed to be incorporated by reference herein. Any such statement so modified or superseded
  shall not be deemed, except as so modified or superseded, to constitute a part of this Registration
  Statement.
  Item 4.
  Description of Securities
  .
  Not Applicable
  Table of Contents
  Item 5.
  Interests of Named Experts and Counsel
  .
  Not Applicable.
  Item 6.
  Indemnification of Directors and Officers
  .
  The Pennsylvania Business Corporation Law of 1988, as amended, authorizes the Company to grant
  indemnification to directors and officers in terms sufficiently broad to permit such
  indemnification under certain circumstances for liabilities (including reimbursement for expenses
  incurred) arising under the Securities Act of 1933, as amended. The Company has also obtained
  Directors' and Officers' Liability Insurance in the amount
  of $40,000,000 which insures its
  officers and directors against certain liabilities such persons may incur in their capacities as
  officers or directors of the Company. In addition, the Company's By-laws contain the following
  provisions:
  "5.1 INDEMNIFICATION OF DIRECTORS, OFFICERS, AND OTHER PERSONS. The Corporation shall
  indemnify any director, officer, employee or agent of the Corporation or any of its subsidiaries
  who was or is an "authorized representative" of the Corporation (which shall mean, for the purpose
  of this Article, a director or officer of the Corporation, or a person serving at the request of
  the Corporation as a director, officer, partner, fiduciary or trustee of another corporation,
  partnership, joint venture, trust, employee benefit plan or other enterprise) and who was or is a
  "party" (which shall include for purposes of this Article the giving of testimony or similar
  involvement) or is threatened to be made a party to any "proceeding" (which shall mean for purposes
  of this Article any threatened, pending or completed action, suit, appeal or other proceeding of
  any nature, whether civil, criminal, administrative or investigative, whether formal or informal,
  and whether brought by or in the right of the Corporation, its shareholders or otherwise) by reason
  of the fact that such person was or is an authorized representative of the Corporation to the
  fullest extent permitted by law, including without limitation indemnification against expenses
  (which shall include for purposes of this Article attorneys' fees and disbursements), damages,
  punitive damages, judgments, penalties, fines and amounts paid in settlement actually and
  reasonably incurred by such person in connection with such proceeding unless the act or failure to
  act giving rise to the claim is finally determined by a court to have constituted willful
  misconduct or recklessness. If an authorized representative is not entitled to indemnification in
  respect of a portion of any liabilities to which such person may be subject, the Corporation shall
  nonetheless indemnify such person to the maximum extent for the remaining portion of the
  liabilities.
  "5.2 ADVANCEMENT OF EXPENSES. The Corporation shall pay the expenses (including attorneys'
  fees and disbursements) actually and reasonably incurred in defending a proceeding on behalf of any
  person entitled to indemnification under Section 5.1 in advance of the final disposition of such
  proceeding upon receipt of an undertaking by or on behalf of such person to repay such amount if it
  shall ultimately be determined that such person is not entitled to be indemnified by the
  Corporation as authorized in this Article and may pay such expenses in advance on behalf of any
  employee or agent on receipt of a similar undertaking. The financial ability of such authorized
  representative to make such repayment shall not be prerequisite to the making of an advance.
  "5.3 EMPLOYEE BENEFIT PLANS. For purposes of this Article, the Corporation shall be deemed to
  have requested an officer, director, employee or agent to serve as fiduciary with respect to an
  employee benefit plan where the performance by such person of duties to the Corporation also
  imposes duties on, or otherwise involves services by, such person as a fiduciary with respect to
  the plan; excise taxes assessed on an authorized representative with respect to any transaction
  with an employee benefit plan shall be deemed "fines"; and action taken or omitted by such person
  with respect to an employee benefit plan in the performance of duties for a purpose reasonably
  believed to be in the interest of the participants and beneficiaries of the plan shall be deemed to
  be for a purpose which is not opposed to the best interests of the Corporation.
  "5.4 SECURITY FOR INDEMNIFICATION OBLIGATIONS. To further effect, satisfy or secure the
  indemnification obligations provided herein or otherwise, the Corporation may maintain insurance,
  obtain a letter of credit, act as self-insurer, create a reserve, trust, escrow, cash collateral or
  other fund or account, enter into indemnification agreements, pledge or grant a security interest
  in any assets or properties of the Corporation, or use
  Table of Contents
  any other mechanism or arrangement whatsoever in such amounts, at such costs, and upon such other
  terms and conditions as the Board of Directors shall deem appropriate.
  "5.5 RELIANCE UPON PROVISIONS. Each person who shall act as an authorized representative of
  the Corporation shall be deemed to be doing so in reliance upon the rights of indemnification
  provided by this Article.
  "5.6 AMENDMENT OR REPEAL. All rights of indemnification under this Article shall be deemed a
  contract between the Corporation and the person entitled to indemnification under this Article
  pursuant to which the Corporation and each such person intend to be legally bound. Any repeal,
  amendment or modification hereof shall be prospective only and shall not limit, but may expand, any
  rights or obligations in respect of any proceeding whether commenced prior to or after such change
  to the extent such proceeding pertains to actions or failures to act occurring prior to such
  change.
  "5.7 SCOPE OF ARTICLE. The indemnification, as authorized by this Article, shall not be deemed
  exclusive of any other rights to which those seeking indemnification or advancement of expenses may
  be entitled under any statute, agreement, vote of shareholders or disinterested directors or
  otherwise, both as to action in an official capacity and as to action in any other capacity while
  holding such office. The indemnification and advancement of expenses provided by, or granted
  pursuant to, this Article shall continue as to a person who has ceased to be an officer, director,
  employee or agent in respect of matters arising prior to such time, and shall inure to the benefit
  of the heirs, executors and administrators of such person."
  Item 7.
  Exemption from Registration Claimed
  .
  Not Applicable.
  Item 8.
  Exhibits
  .
  Reference is made to the Exhibit Index.
  Item 9.
  Undertakings
  .
  (a)
  The undersigned Company hereby undertakes:
  (1) To file, during any period in which offers or sales are being made, a post-effective amendment
  to this Registration Statement:
  (i) To include any prospectus required by Section 10(a)(3) of the Securities Act of 1933;
  (ii) To reflect in the prospectus any facts or events arising after the effective date of the
  Registration Statement (or the most recent post-effective amendment thereof) which, individually
  or in the aggregate, represent a fundamental change in the information set forth in the
  Registration Statement. Notwithstanding the foregoing, any increase or decrease in volume of
  securities offered (if the total dollar value of securities offered would not exceed that which
  was registered) and any deviation from the low or high end of the estimated maximum offering
  range may be reflected in the form of prospectus filed with the Commission pursuant to Rule
  424(b) if, in the aggregate, the changes in volume and price represent no more than a 20% change
  in the maximum aggregate offering price set forth in the "Calculation of Registration Fee" table
  in the effective Registration Statement.
  (iii) To include any material information with respect to the plan of distribution not
  previously disclosed in the Registration Statement or any material change to such information in
  the Registration Statement;
  Provided, however, that:
  paragraphs (a)(1)(i) and (a)(1)(ii) do not apply if the information
  required to be included in a post-effective amendment by those paragraphs is contained in
  reports filed with or furnished to the
  Table of Contents
  Commission by the Company pursuant to Section 13 or Section 15(d) of the Securities Exchange Act
  of 1934 (15 U.S.C. 78m or 78o(d)) that are incorporated by reference in the Registration
  Statement.
  (2) That, for the purpose of determining any liability under the Securities Act of 1933, each such
  post-effective amendment shall be deemed to be a new Registration Statement relating to the
  securities offered therein, and the offering of such securities at that time shall be deemed to be
  the initial bona fide offering thereof.
  (3) To remove from registration by means of a post-effective amendment any of the securities being
  registered which remain unsold at the termination of the offering.
  (b) The undersigned Company hereby undertakes that, for purposes of determining liability under
  the Securities Act of 1933, each filing of the Company's annual report pursuant to Section 13(a) or
  Section 15(d) of the Securities Exchange Act of 1934 (and, where applicable, each filing of an
  employee benefit plan's annual report pursuant to Section 15(d) of the Securities Exchange Act of
  1934) that is incorporated by reference in this Registration Statement shall be deemed to be a new
  Registration Statement relating to the securities offered herein, and the offering of such
  securities at that time shall be deemed to be the initial
  bona fide
  offering thereof.
  (c) Insofar as indemnification for liabilities arising under the Securities Act of 1933 may be
  permitted to directors, officers and controlling persons of the Company pursuant to the foregoing
  provisions, or otherwise, the Company has been advised that in the opinion of the Securities and
  Exchange Commission such indemnification is against public policy as expressed in the Act and is,
  therefore, unenforceable. In the event that a claim for indemnification against such liabilities
  (other than the payment by the Company of expenses incurred or paid by a director, officer or
  controlling person of the Company in the successful defense of any action, suit or proceeding) is
  asserted by such director, officer or controlling person in connection with the securities being
  registered, the Company will, unless in the opinion of its counsel the matter has been settled by
  controlling precedent, submit to a court of appropriate jurisdiction the question whether such
  indemnification by it is against public policy as expressed in the Act and will be governed by the
  final adjudication of such issue.
  Table of Contents
  SIGNATURES
  Pursuant to the requirements of the Securities Act of 1933, the Company certifies that it has
  reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and has
  duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto
  duly authorized, in the City of Cambridge, in the Commonwealth of Massachusetts, on this
  21
  st
  day of September 2006.
  ALKERMES, INC.
  By:
  /s/ Richard F. Pops
  Richard F. Pops
  Chief Executive Officer
  POWER OF ATTORNEY AND SIGNATURES
  Pursuant to the requirements of the Securities Act of 1933, this Registration Statement has
  been signed below by the following persons in the capacities and on the dates indicated.
  Each person whose signature appears below in so signing also makes, constitutes and appoints
  Richard F. Pops and James M. Frates, and each of them, his true and lawful attorney-in-fact, with
  full power of substitution, for him in any and all capacities, to execute and cause to be filed
  with the Securities and Exchange Commission any and all amendments and post-effective amendments to
  this Registration Statement, with exhibits thereto and other documents in connection therewith, and
  hereby ratifies and confirms all that said attorney-in-fact or his substitute or substitutes may do
  or cause to be done by virtue hereof.
  SIGNATURE
  TITLE
  DATE
  /s/ Michael A. Wall
  Michael A. Wall
  Director and Chairman of the Board
  September 21, 2006
  /s/ Richard F. Pops
  Richard F. Pops
  Director and Chief Executive
  Officer
  (Principal Executive Officer)
  September 21, 2006
  /s/ James M. Frates
  James M. Frates
  Vice President, Chief Financial Officer and
  Treasurer
  (Principal Financial and Accounting Officer)
  September 21, 2006
  /s/ Floyd E. Bloom
  Floyd E. Bloom
  Director
  September 21, 2006
  /s/ Robert A. Breyer
  Robert A. Breyer
  Director
  September 21, 2006
  /s/ Gerri Henwood
  Gerri Henwood
  Director
  September 21, 2006
  /s/ Paul J. Mitchell
  Paul J. Mitchell
  Director
  September 21, 2006
  /s/ Alexander Rich
  Alexander Rich
  Director
  September 21, 2006
  /s/ Paul Schimmel
  Paul Schimmel
  Director
  September 21, 2006
  /s/ Mark B. Skaletsky
  Mark B. Skaletsky
  Director
  September 21, 2006
  Table of Contents
  INDEX TO EXHIBITS
  Exhibit No.
  Description of Exhibit
  4.1
  Specimen of Common Stock Certificate of Alkermes, Inc. (Incorporated
  by reference to Exhibit 4 to the Company's Registration Statement on
  Form S-1, as amended (File No. 33-40250).)
  4.2
  Specimen of Non-Voting Common Stock Certificate of Alkermes, Inc.
  (Incorporated by reference to Exhibit 4.2 to the Company's
  Registration Statement on Form S-8, as amended, filed on April 22,
  2005).
  4.3
  Specimen of 2002 Preferred Stock Certificate of Alkermes, Inc.
  (Incorporated by reference to Exhibit 4.1 to the Company's Report on
  Form 8-K filed on December 13, 2002.)
  4.4
  Indenture, dated as of February 18, 2000, between Alkermes, Inc. and
  State Street Bank and Trust Company, as Trustee. (3.75% Subordinated
  Notes) (Incorporated by reference to Exhibit 4.6 to the Company's
  Registration Statement on Form S-3, as amended, filed on February 29,
  2000 (File No. 333-31354).)
  4.5
  Form of 3.75% Subordinated Note (Incorporated by reference to Exhibit
  4.6 to the Company's Registration Statement on Form S-3, as amended,
  filed on February 29, 2000 (File No. 333-31354).)
  4.6
  Rights Agreement, dated as of February 7, 2003, as amended, between
  Alkermes, Inc. and EquiServe Trust Co., N.A., as Rights Agent.
  (Incorporated by reference to Exhibit 4.1 to the Company's Report on
  Form 8-A filed on May 2, 2003.)
  4.7
  Indenture, dated February 1, 2005, between RC Royalty Sub LLC and U.S.
  Bank National Association, as Trustee (Risperdal Consta
  ®
  PhaRMA
  (SM) secured 7% Notes due 2018, Class A). (Incorporated by
  reference to Exhibit 4.1 to Company's Report on Form 8-K filed on
  February 3, 2005) (File No. 001-14131).)
  4.8
  Form of Risperdal Consta
  ®
  PhaRMA (SM) secured 7% Notes due
  2018, Class A (Incorporated by reference to Exhibit A to Exhibit 4.1
  to the Company's Report on Form 8-K filed on February 3, 2005) (File
  No. 001-14131).)
  4.9
  Alkermes, Inc. 1999 Stock Option Plan, as amended (Incorporated by
  reference to Exhibit 10.1 to the Company's Report on Form 10-Q for the
  quarter ended September 30, 2004) (File No. 001-14131).)
  4.10
  Form of Stock Option Certificate pursuant to the 1999 Stock Option
  Plan, as amended (Incorporated by reference to Exhibit 10.36 to the
  Company's Report on Form 10-K for the year ended March 31, 2006)
  5.1
  Opinion of Ballard Spahr Andrews & Ingersoll (filed herewith).
  23.1
  Consent of Ballard Spahr Andrews & Ingersoll (included in Exhibit 5.1).
  23.2
  Consent of Deloitte & Touche LLP (filed herewith).
  24.1
  Power
  of Attorney (included in signature page).