Alkermes Inc said its Chief Executive Officer David Broecker has resigned, effective immediately, and will be replaced by prior CEO Richard Pops.
Broecker also resigned from his position as the President and and as a member of the board, the company said in a statement.
In his earlier stint, Pops had served as the CEO of the company from February 1991 through April 2007.
Shares of the company were down 2 percent to $9.23 in morning trade on Nasdaq. (Reporting by Esha Dey in Bangalore; Editing by Jarshad Kakkrakandy)