Alkermes up on inhaled insulin news

ALKS was up $1.82 (21%) to $10.33 on 3.5 million shares on Tuesday on news that partner Lilly (LLY) will continue development of an inhaled insulin product. ALKS said the decision follows the completion of a Phase II trial, scale-up to commercial manufacturing of powder, and the development and testing of a commercial pulmonary insulin inhaler system. ...