30th Jun 2021 10:41
(Alliance News) - Indivior PLC on Wednesday said it has raised its annual profit and revenue guidance to reflect increasing business momentum after a better-than-expected first half performance.
The drugmaker was the FTSE 250 standout performer in morning trading, up 8.3% to 157.30 pence in London.
Indivior said it expects higher annual net revenue in the range of USD705 million to USD740 million, up from the previously guided value of up to USD625 million, reflecting a stronger Sublocade performance. Group net revenue was USD647 million in 2020, which was down 18% from USD785 million in 2019.
Adjusted pre-tax income is expected to be "significantly above" original guidance. For 2020, Indivior company swung to a pretax loss of USD173 million from a USD180 million profit recorded in 2019.
Net revenue from Sublocade for 2021 is expected to be in the range of USD210 million to USD230 million, up from USD185 million to USD210 million previously guided, based on stronger demand and a large order from a new criminal justice system customer worth USD7 million.
Sublocade is Indivior's lead treatment for opioid addiction.
Indivior will report its half year results on July 29.
By Will Paige; [email protected]
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