Alkermes, Inc. is restructuring its operations after partner Eli Lilly and Co. terminated the AIR Insulin program. Alkermes is reducing its staff by approximately 18% (150 employees) and closing its AIR commercial manufacturing facility in Chelsea, MA. The restructuring is an effort to combat the financial impact of Lilly’s termination of the program.     “We are implementing a new operational cost structure to align our expenses with near-term revenues, which we anticipate will ...