Xconomy examines Alkermes' ($ALKS) new company strategy in the wake of its acquisition of Elan Drug Technologies. The EDT buyout, explains Luke Timmerman, gives the biotech a steady revenue flow to build on with some prospective upside from products like Bydureon. And by limiting its borrowing to $450 million, says CEO Richard Pops, the company obtained good terms and a shot at an early payback. "Leveraging a [money-losing] biotech company is reckless, but leverage for a cash-flow positive and stable company is prudent balance sheet management," Pops says. Article