SEC FORM 4/A

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

BREYER ROBERT A

(Last)

(First)

(Middle)

88 SIDNEY ST

(Street)

CAMBRIDGE

02139

(City)

(State)

(Zip)

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

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

X	Director	10% Owner
	Officer (give title below)	Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
08/23/2005

4. If Amendment, Date of Original Filed (Month/Day/Year)
08/25/2005

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	08/23/2005		M⁽¹⁾		2,500	A	$5.94	118,616	D
Common Stock	08/23/2005		S⁽²⁾		2,500	A	$18	116,116	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Non-Qualified Stock Option (right to buy)	$5.94	08/23/2005		M⁽¹⁾			2,500	08/23/2005⁽³⁾	09/21/2008	Common Stock	2,500	$18	5,666⁽⁴⁾	D

Explanation of Responses:

1. Grant to reporting person of non-qualified stock options pursuant to the Alkermes, Inc. Amended and Restated 1990 Omnibus Stock Option Plan.

2. This sale was effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person.

3. 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.

4. Due to an incorrect Form 4 filing on May 14, 2001, the number of shares listed as "Number of Securities Beneficially Owned Following Reported Transaction(s), has been understated by 4,000 shares. As a result of the May 2001 Form 4 error, the number of shares listed as "Number of Securities Beneficially Owned Following Reported Transactions(s) for the Non-Qualified Stock Option (right to buy) with a conversion price of $2.00, last reported on the Form 4 filed on August 9, 2001, was overstated by 4,000 shares. The correct number of shares beneficially owned on July 31, 2001 for the above Non-Qualified Option was -0-.

Remarks:

The amended Form 4 filing is intended to replace the original filing made on 8/25/2005 for transactions dated 8/23/05. The purpose of the amendment is to correct the number of Securities Beneficially Owned Following the Reported Transaction(s).

	John P. Gaspar, Attorney-in-Fact For: Robert A. Breyer	08/26/2005
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (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).
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