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Indivior lifts outlook on profit following stronger revenue of drugs to treat opioid addiction
StockMarketWire.com
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Pharmaceutical company Indivior lifted its outlook on profit on expectations for higher revenue from drugs to treat opioid dependence.
The company said it now expected to deliver adjusted pre-tax income ahead of its previous expectations.
Revenue was now expected to be in the range of $645m to $650m, compared with previous guidance of $595 million to $620 million.
Expected Subclocade net revenue was expected to be between $128 million to $130 million, up from guidance of $120 million to $125 million, representing preliminary Q4 2020 revenue growth of 12% to 18% versus Q3 2020.
The lift on revenue guidance was also helped by the 'resilience of Suboxone film share through the end of 2020 as well as benefits from modest stocking activity in the U.S. in the fourth quarter,' the company said.
Indivior expects to report FY 2020 results on February 18, 2021.
At 8:06am: (LON:INDV) Indivior PLC share price was 0p at 125p
Story provided by StockMarketWire.com
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