There is very little on the corporate front to provide any real interest in the final trading week before Christmas, nevertheless, on Tuesday, with a conference call business update scheduled Indivior Plc (LON:INDV) will be the one of few highlights.
The update comes in the wake of the recent decision by the US Court of Appeals for the Federal Circuit (CAFC) against Dr. Reddy’s Laboratories upholding the immediate sale of the Indian firm’s generic version of Indivior’s best-selling opioid addition drug, Suboxone, at least until the appeal decision against the last Federal Circuit decision on the preliminary injunction is taken.
The company has said the conference call on Tuesday will discuss its strategy and contingency plans, and will also provide updates on the FTSE 250-listed firm’s full-year 2018 performance.
Analysts at RBC Capital are expecting to hear more on potential cost cutting, updates on the launch of its Sublocade product and commercial plans in the face of the generic competition.
They added: “In light of this new information we may hear on a ‘with and without’ generic plan, albeit we think investors will be modelling off a ‘with generic’ action plan from here.”
The analysts said: “This has no material impact on our estimates today, unless the rehearing turns in Indivior’s favour but we also see this as potentially helpful should Indivior still be seeking a settlement with Dr Reddy’s – which would be a positive.
“Combined with the appeal court hearing on the 514 patent scheduled for 1H-2019 there is still some leverage for Indivior should it get Dr Reddy’s to the table.”
Tuesday December 18:
Trading update: Indivior PLC (LON:INDV), Petrofac Limited (LON:PFC)
AGMs: DotDigital Group PLC (LON:DOTD), Sareum Holdings PLC (LON:SAR), European Metals Holding Limited (LON:EMH)
Economic data: German IFO business climate survey; US housing starts