Indivior PLC (LON: INDV) today announced revised expectations for FY 2019 net revenue and net income following stronger than expected H1 2019 net revenue performance. The primary driver has been the market share outperformance of its branded SUBOXONE® (buprenorphine and naloxone) Film when compared with historic analogues(1) of branded pharmaceutical products facing generic competition. Indivior now expects FY 2019 Group net revenue to be in the range of $670m to $720m (previously $525m to $575m) and net income in the range of $80m to $130m (previously ($40m) to $10m), excluding exceptional items and F/X. Cash at H1 2019 is expected to be approximately $985m.
FY 2019 net revenue guidance assumes continued share erosion of SUBOXONE® Film towards the rates of historic analogues(1) over the remainder of 2019. Previously-stated key FY 2019 guidance elements are being maintained, including:
- SUBLOCADE™ (buprenorphine extended-release) Injection net revenue of $50m to $70m;
- Modest net revenue contribution from PERSERIS™ (risperidone) for extended-release injection;
- Authorized generic buprenorphine/naloxone film contribution in the tens of $-millions;
- Operating expense (SG&A and R&D combined) of $440m to $460m (before exceptional costs); and,
- A tax rate in the high-single to low double-digit range.
Comment by Shaun Thaxter, CEO of Indivior PLC
“We are raising our FY 2019 guidance after a stronger than expected first half, in which the Group executed well against its strategic priorities. Our financial performance and strong cash position largely reflect the slower-than-expected pace of erosion of SUBOXONE® Film and the sustained leadership position of the authorized generic buprenorphine/naloxone film that is being marketed by Sandoz Inc. We are seeing continued growth in SUBLOCADE™ as we improve the prescription journey and increase HCP trial and adoption, and we are continuing to see early interest in PERSERIS™. We look forward to sharing more details on our progress with our half-year results on 31st July.”
H1 2019 Results Presentation Details
On 31 July 2019 Indivior will host a presentation of its H1 2019 results at 11:30 am BST (6:30 am EDT) at the London Stock Exchange. This follows the scheduled release that day of the H1 2019 results at 7:00 am BST (2:00 am EDT). Please contact Jason Thompson, VP of Investor Relations, to register for the results presentation (contact information below). This presentation will also be webcast live. The details are below. All H1 2019 materials will be available on the Group’s website at www.indivior.com. – PR Newswire