Invidior shares drop as FDA approves rivals

Shares in FTSE 250 pharmaceutical firm Invidior (LON:IVDR) have plunged by 22.02% to 385.60p at 1500 BST. The US Food and Drug Administration granted approval to rival drugmakers to launch generic versions of Suboxone, which has been the company’s main revenue generating product with sales in the region of $1.86 billion in the 12 months to April.

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Analysts suggested that a negative movement may constitute a buying opportunity, despite expecting a sharp drop in Invidior’s market share due to strong cash reserves and the potential for a strong roll out for its newer Sublocade product that is not affected by this approval.