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Drugmaker Indivior reported a rise in profits on stronger-than-expected second-quarter performance, during which its opioid-addiction treatment loss less market share than expected following the launch of copycat drugs from rivals.
Indivior reported a pretax profit of $89m in the second quarter ended June 30 from $78m a year earlier, even as revenue slipped 20% to $215m.
Its opioid-addiction treatment, SUBOXONE Film, averaged market share of 38% in the half, down from 54% last year, a slower decline than anticipated in the wake of rivals launching generic products in February this year.
The company maintained previously upgraded guidance.
Indivior expected full-year revenue to be in the range of $670m to $720m, up from $525m to $575m previously and net income in the range of $80m to $130m, up from $40m to $10m previously,
At 9:53am: (LON:INDV) Indivior Plc share price was +0.12p at 54.48p