Indivior PLC in red after legal settlements take toll
Losses for the year were US$173mln with a US$14mln deficit in the final three months
() posted an improvement in sales in the final quarter of 2020 as Sublocade, its injectable, extended-release opioid dependency treatment, picked up momentum.
The drug group is trying to build sales of Sublocade to offset a steady decline by its predecessor Suboxone, which has now come off patent.
Revenues for the year to end-December fell 18% to US$647mln though there was a 39% jump in the final quarter as sales of Sublocade rose 18%.
Losses for the year were US$173mln with a US$14mln deficit in the final three months.
During the year, Indivior settled outstanding legal cases with the US Department of Justice and former parent and Indivior took one-off charges of US$244mln in the 2020 numbers.
Mark Crossley, chief executive, said that given the problems related to the coronavirus pandemic he was ‘delighted’ with the numbers.
“Critically, we materially de-risked the business with resolution of the DOJ and RB matters and we took decisive strategic alignment actions which place Indivior on a clear path towards realizing the transformational potential of Sublocade.
“Accelerating the growth of Sublocade remains the biggest potential driver of value creation.“
Indivior’s base case assumptions for 2021 are for net revenues to rise to US$625mln with Sublocade net revenues of between US185mln and $210mln (2020: US$130mln).
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