12th Sep 2018 09:26
LONDON (Alliance News) - Indivior PLC said Wednesday that it continues to expect annual net revenue from its new opioid addiction drug, Sublocade, to be between USD25 million and USD50 million in 2018, as sales are "heavily weighted" to the fourth quarter.
Chief Executive Officer Shaun Thaxter added: "We remain confident in achieving our annual peak net revenue goal of USD1 billion-plus."
In 2017, the pharmaceutical company booked total net revenue of USD1.09 billion and pretax profit of USD137 million.
The CEO said satisfaction with Sublocade, the company's treatment of moderate to severe opioid use disorder, "continues to be positive".
Indivior added that Israeli firm Teva Pharmaceuticals Industries Ltd has agreed to wait to launch its knock-off version of Indivior's blockbuster opioid addiction drug until the resolution of Indivior's US court case against a similar generic rival produced by Indian company Dr Reddy's Laboratories.
A court hearing is scheduled for October 4, after Indivior was granted a temporary injunction against Dr Reddy.
Indivior made the announcements as it said it will be unable to attend a Morgan Stanley healthcare conference in New York this week due to the approach of Hurricane Florence, which will disrupt travel throughout the US East Coast.
The hurricane, which is taking aim at the Carolinas, is expected to strengthen into a near-Category 5 storm as it approaches the US where 1.7 million people have been warned to get out of the way.
However, Indivior said it will hold an investor day in New York on December 5.
Indivior shares were trading up 0.7% at 273.30 pence each.
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