(Reuters) – British drugmaker Indivior on Thursday cut its 2024 net revenue forecast for the second time in three months, citing lower than expected revenues from its Sublocade treatment for opioid use disorder, sending shares 15% lower.
The company said that revenues from its opioid addiction treatment have been negatively impacted by the rapid adoption of Brixadi, a competing drug developed by Swedish pharmaceutical firm Camurus.
Indivior no longer expects Sublocade will exit 2025 at a $1 billion net revenue run rate.
Shares of the company were down 15% to 613 pence – their lowest since 2021 – at 1116 GMT.
The London-listed company now expects revenue to between $1.13 billion and $1.17 billion for the full year, down from prior range of $1.15 billion to $1.22 billion.
(Reporting by Yamini Kalia in Bengaluru; Editing by Varun H K and Tasim Zahid)
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