Indivior PLC (LON:INDV) has raised its sales guidance for the current year by more than 12% as sales of both its new and old products are beating expectations.
As a result, adjusted pre-tax income for 2021 is also expected to be significantly above the group's original guidance, the drug developer said in a statement.
Net revenue for 2021 is now forecast in a range of US$705mln to US$740mln compared to US$625mln estimated previously and driven by Sublocade, Invidor's extended-release, injectable treatment for opioid dependence.
A large order from a criminal justice system customer will increase Sublocade’s sales to USS$210mln-230mln versus a previous estimate of US$185mln, the company said.
Off-patent Suboxone film is also declining at a slower rate than predicted, while movements in the US dollar will add a further US$10mln to turnover.
Indivior posted a net loss of US$148mln in 2020 on sales of US$648mln with adjusted net income at US$59mln.
The shares rose 10% to 159.1p by mid-morning, their highest in around two and a half years.