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5
May
2026
Orexin Drugs for Narcolepsy & Much More: Richard Pops on The Long Run
Richard Pops is the latest guest on The Long Run.
Richard is the chairman and CEO of Alkermes. He’s one of the longest-serving biotech leaders ever, with a 35-year career at the helm of a single company. Rich is also one of the more issue-oriented and politically engaged industry leaders. As the head of a mid-sized biopharma company, he has an unusual perspective as the only member of the board for both the Biotechnology Innovation Organization and PhRMA – the trade groups that represent small and large biopharmaceutical companies.

Richard Pops, chairman and CEO, Alkermes
This summer, Rich is stepping down as CEO but will remain chairman of the board of Alkermes. The company has had its ups and downs, even a battle with activist investor, but it’s in as good a position now as ever. It’s profitable, has $1.3 billion in cash, and is executing on a late-stage clinical development plan for what could be its biggest product ever.
Alkermes – along with Takeda Pharmaceutical and Eli Lilly through its acquisition of Centessa Pharmaceuticals – are blazing a trail in a new class of medicines for sleep disorders. These drugs are orexin receptor agonists.
Orexins are neuropeptides in the hypothalamus that are considered “master conductors” that regulate wakefulness, arousal, and energy homeostasis, acting as key stabilizers of the sleep/wake cycle. The initial application for orexin receptor agonists is in narcolepsy, aka excessive daytime sleepiness, but there’s more. The biology is fascinating and generates all sorts of hypotheses about whether these orexin drugs will be useful for fatigue associated with multiple sclerosis and Parkinson’s, addiction, depression and other neurological conditions.
In this wide-ranging conversation, Rich reflects on his long history at the company and in biotech, and how Alkermes evolved to seize this opportunity in orexin biology for narcolepsy and many more neurological applications. We also discuss this moment in biotech writ large, brimming with possibilities and with plenty of stormy weather.
The Long Run is sponsored by:

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Now please enjoy this conversation with Richard Pops on The Long Run.

















