Edgar Filing: ALKERMES INC

Ownership Submission

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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(Print or Type Responses)

1. Name and Address of Reporting Person ^*

Â Pugh Gordon G

2. Date of Event Requiring Statement (Month/Day/Year)
09/21/2006

3. Issuer Name and Ticker or Trading Symbol
ALKERMES INC [ALKS]

(Last)

(First)

(Middle)

88 SIDNEY STREET

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

_____ Director	_____ 10% Owner
__X__ Officer (give title below)	_____ Other (specify below)
VP, Operations

5. If Amendment, Date Original Filed(Month/Day/Year)

(Street)

CAMBRIDGE,Â MAÂ 02139

6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person

(City)

(State)

(Zip)

Table I - Non-Derivative Securities Beneficially Owned

1.Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock	2,560	D	Â

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.			SEC 1473 (7-02)
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Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
1. Title of Derivative Security (Instr. 4)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	4. Conversion or Exercise Price of Derivative Security		6. Nature of Indirect Beneficial Ownership (Instr. 5)
Incentive Stock Option (right to buy)	04/25/2004⁽¹⁾	04/25/2013	Common Stock	3,850	$ 9.97	D	Â
Incentive Stock Option (right to buy)	12/10/2004⁽¹⁾	12/10/2013	Common Stock	1	$ 12.16	D	Â
Incentive Stock Option (right to buy)	07/12/2005⁽¹⁾	07/12/2014	Common Stock	7,500	$ 12.3	D	Â
Incentive Stock Option (right to buy)	10/17/2004⁽¹⁾	10/17/2013	Common Stock	4,228	$ 14.57	D	Â
Incentive Stock Option (right to buy)	12/17/2005⁽¹⁾	12/17/2014	Common Stock	520	$ 14.9	D	Â
Incentive Stock Option (right to buy)	12/09/2006⁽¹⁾	12/09/2015	Common Stock	5,376	$ 18.6	D	Â
Incentive Stock Option (right to buy)	05/02/2007⁽¹⁾	05/02/2016	Common Stock	4,687	$ 20.79	D	Â
Incentive Stock Option (right to buy)	01/07/2003⁽¹⁾	01/07/2012	Common Stock	15,408	$ 25.96	D	Â
Non-Qualified Stock Option (right to buy)	07/18/2003⁽¹⁾	07/18/2012	Common Stock	10,000	$ 4.77	D	Â
Non-Qualified Stock Option (right to buy)	12/12/2003⁽¹⁾	12/12/2012	Common Stock	24,000	$ 7.36	D	Â
Non-Qualified Stock Option (right to buy)	04/25/2004⁽¹⁾	04/25/2013	Common Stock	11,550	$ 9.97	D	Â
Non-Qualified Stock Option (right to buy)	12/10/2004⁽¹⁾	12/10/2013	Common Stock	54,599	$ 12.16	D	Â
Non-Qualified Stock Option (right to buy)	07/12/2005⁽¹⁾	07/12/2014	Common Stock	22,500	$ 12.3	D	Â
Non-Qualified Stock Option (right to buy)	10/17/2004⁽¹⁾	10/17/2013	Common Stock	25,772	$ 14.57	D	Â
Non-Qualified Stock Option (right to buy)	12/17/2005⁽¹⁾	12/17/2014	Common Stock	69,480	$ 14.9	D	Â
Non-Qualified Stock Option (right to buy)	12/09/2006⁽¹⁾	12/09/2015	Common Stock	32,124	$ 18.6	D	Â
Non-Qualified Stock Option (right to buy)	05/02/2007⁽¹⁾	05/02/2016	Common Stock	14,063	$ 20.79	D	Â
Non-Qualified Stock Option (right to buy)	01/07/2003⁽¹⁾	01/07/2012	Common Stock	144,592	$ 25.96	D	Â
Restricted Stock Award	06/16/2006⁽²⁾	06/16/2009	Common Stock	11,250	$ 0	D	Â

Reporting Owners

Reporting Owner Name / Address	Relationships
Reporting Owner Name / Address	Director	10% Owner	Officer	Other
Pugh Gordon G 88 SIDNEY STREET CAMBRIDGE,Â MAÂ 02139	Â	Â	Â VP, Operations	Â

Signatures

By: John P Gaspar, Attorney-in-Fact For: Gordon G Pugh		09/29/2006
^**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 5(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1)	The option becomes exercisable in equal annual installments over a four-year period, at the rate of 25% per year commencing one year after the date of grant.
(2)	Award of stock pursuant to the Alkermes, Inc 2002 Restricted Stock Award Plan. Shares cease to be subject to forfeiture in 25% increments, commencing on the date of grant and yearly thereafter.

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