Indivior plunges on generic competition threat
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Shares in opioid abuse specialist Indivior (LON:INDV) plunged 120.8p to 257.3p (as at 13:38 BST) after rival Dr Reddy’s Laboratories won approval from the US drug regulator for its generic version of Indivior’s Suboxone Film and said it planned a launch imminently.
Until the implications of the rival launch are “better understood”, Indivior said it now cannot reliably provide updated guidance, retracting the previously indicated expected revenue of $1.13-1.17 billion and net profit of $280-320 million.
To compound matters, Indivior expects a further $50 million impact from a slower than expected launch of Sublocade, its new once-monthly version of the opioid addiction treatment, where there has been “some friction” in the new distribution and reimbursement model that has had an impact on physician willingness to prescribe at higher levels.
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