Alkermes is starting late-stage clinical trials of Vivitrex, an injectable form of naltroxene--an FDA-approved drug for the treatment of opiate and alcohol dependence, and it has several other drugs in development.
While Covidien has a large pharmaceutical business--it's the largest U.S. manufacturer of acetaminophen, the ingredient in Tylenol, and opiate painkillers--Meelia isn't girding to compete with drug giants like Merck.