Indivior unveiled a $100 million share buyback programme after swinging to a first-half profit, driven by strong sales of its opioid addiction treatment.
For the half year ended 30 June, pre-tax profit rose to $119 million from a loss of $171 million year-on-year as revenue jumped 26% to $381 million.
'The increase in both periods was primarily driven by higher net revenue from SUBLOCADE (+79% vs. H1 2020, +110% vs. Q2 2020), continued growth in the buprenorphine medication-assisted treatment market, and by relative market share stability for SUBOXONE (buprenorphine and naloxone) film in the US,' the company said.
'In light of Indivior's business outlook in 2021 and beyond, and supported by our strong balance sheet, we will be initiating a $100m share buyback program,' it added.
The company reiterated its annual guidance, forecasting net revenue in a range of $705 million to $740 million.