Indivior PLC (LON:INDV) has raised its profit and sales expectations for 2020 as opioid dependency treatment Suboxone continues to resist generic competitors better than expected.
Total net revenue for the year is now expected to be in the range of US$645mln to US$650mln compared to US$595mln to $620mln guided previously, said the Slough-based group.
New product Sublocade, an extended-release, injectable form of Suboxone, is also selling ahead of forecasts, added Indivior.
Sublocade will generate annual net revenues of between US$128mln to US$130mln after growth of 12%-18% in the fourth quarter.
Suboxone film sales remained resilient, Indivior added, helped by modest stocking activity in the US. in the fourth quarter.
General overhead costs are also expected to come in below the US$470mln-US$480mln range guided previously.
“Based on these preliminary results, the Group now expects to deliver adjusted pre-tax income ahead of its previous expectations,” Indivior said.
Results for 2020 will be released on February 18, 2021, it added.