Indivior surges on court injunction
Never miss an issue of Master Investor Magazine – sign-up now for free! |
Shares in Indivior (LON:INDV) surged 74.3p to 365.5p (as at 10:34 BST) after a US court granted a preliminary injunction to prevent Dr Reddy’s Laboratories from selling a generic version of Indivior’s Suboxone Film for treating opioid addiction until a decision is made on patent litigation.
Last week Indivior shares collapsed after it issued a profit warning and removed its financial guidance for the year, partly due to being unable to accurately determine what quantity of generic sublingual film Dr Reddy’s had sold before the district court granted a temporary restraining order.
“It is important to recognize that the court’s decision does not prevent patients or payors from accessing existing generic sublingual buprenorphine/naloxone medications, as all currently available treatments are unaffected by today’s ruling,” noted Indivior CEO Shaun Thaxter. “The US market for medication-assisted treatment is already highly competitive with multiple therapies available, over half of which are generic medicines.”
Comments (0)