Pros
Alkermes tries (and successfully) does a lot with a small R&D team. Each person is a highly-valued member of their team and contributes significantly to each project and has a direct impact to that project's development. New ideas are usually welcomed if they are scientifically supported. The workforce is relatively young and makes for a more fun office environment. There are a good amount of managers that care about their direct reports' career development and overall work/life balance. Company does a good job of trying to celebrate achievements with employees and upper management seems to value and be open to questions and comments from the lower-level employees.
Cons
Because Alkermes supports so many projects with such a small R&D force, the workload can be at times, quite heavy, with more than several instances where vacation time has been suspended in order to meet project deadlines months before. Career development can be stymied or ground to a halt depending on the manager you have. Some are fantastic, others can be less than desirable.