British drugmaker Indivior cuts 2024 revenue forecast, shares fall (updated)

Camurus AB

10/10/2024 12:31

(Updates shares, adds details throughout)
       Oct 10 (Reuters) - British drugmaker Indivior  INDV.L  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  CAMX.ST .
    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)
 ((Yamini.Kalia@thomsonreuters.com;))