Indivior PLC (LSE:INDV)’s share price jumped 11% after the company reaffirmed its full-year outlook despite recent challenges, including increased competition for its opioid addiction treatment, Sublocade.
In its third-quarter results, Indivior posted a 13% revenue increase to $307 million, with Sublocade sales rising 14% to $191 million.
The company addressed concerns over competitor Brixadi, stating it remains confident in Sublocade's leadership, which holds a mid-60% market share in key prescribing groups.
CEO Mark Crossley highlighted Sublocade’s differentiation, particularly in combating synthetic opioids, and reaffirmed the goal of achieving over $1.5 billion in peak revenue.
Indivior is also streamlining its operations, aiming to cut operating expenses by up to $20 million in 2025.
"Headline [third quarter figures beat consensus due to strong Suboxone Film but Sublocade growth is flat QoQ [quarter-on-quarter]," said Jefferies in a note.
In late morning trade, the stock was up 74.5p at 725p. Jefferies says 'buy' up to 1,800p.
Fellow American bank Stifel restated its 'buy' and 1,400p price target, adding: "We are encouraged by the still more than 60% share for Sublocade by co-prescribers of both Sublocade and Brixadi, while the early and within-expectations settlement of the remaining antitrust cases is incrementally positive.
"After two profit warnings this year, we recognise the need to rebuild market confidence, but continue to believe market concerns implied by current low multiples...are overdone."