REG - Indivior PLC - Indivior Reconfirms Full Year 2024 Guidance

IndiviorAnnouncement

23/05/2024 12:00

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RNS Number : 5229P  Indivior PLC  23 May 2024

 

FOR IMMEDIATE RELEASE

 

Indivior to Host Analyst Teach-in Event in New York City; Reconfirms Full Year
2024 Guidance

 

Richmond, VA, May 23, 2024 - Indivior PLC (LSE: INDV; Nasdaq: INDV), a leading
addiction treatment company, announced that in anticipation of the expected
primary listing of the Company's shares on Nasdaq, members of Indivior's
senior leadership team will be hosting an analyst teach-in event today in New
York City. The event, which will be webcast (see details below), is intended
to provide an in-depth overview of Indivior's growth and value creation path.
During the event, the Company will reconfirm its unchanged FY 2024 guidance as
set forth below.

 

                             FY 2024
 Net Revenue (NR)(1)         $1,240m to $1,330m

                              (+18% at midpoint vs. FY 2023)
 SUBLOCADE NR                $820m to $880m

                              (+35% at midpoint vs. FY 2023)
 OPVEE® NR                   $15m to $25m(1)
 PERSERIS NR                 $55m to $65m

                              (+43% at midpoint vs. FY 2023)
 SUBOXONE Film Market Share  Assumes historic rate of share decline in FY 2024 of 1 to 2 percentage points
                             and the potential impact from a fourth buprenorphine/naloxone sublingual film
                             generic in the U.S. market
 Adjusted Gross Margin       Low to mid-80s range
 Adjusted SG&A               ($575m) to ($590m)
 R&D                         ($120m) to ($130m)
 Adjusted Operating Profit   $330m to $380m

 

1 The OPVEE NR guidance for FY 2024 includes approximately $8m as part of a
multi-year agreement with the U.S. Biomedical Advancement Research and
Development Authority (BARDA).

 

Link to today's analyst teach-in event

 

Webinar Registration - Zoom
(https://kingcole-nyc.zoom.us/webinar/register/WN_UYJk6bAPThKzOu92ZhCV2A#/registration)

 

About Indivior

Indivior is a global pharmaceutical company working to help change patients'
lives by developing medicines to treat substance use disorders (SUD) and
serious mental illnesses. Our vision is that all patients around the world
will have access to evidence-based treatment for the chronic conditions and
co-occurring disorders of SUD. Indivior is dedicated to transforming SUD from
a global human crisis to a recognized and treated chronic disease. Building on
its global portfolio of OUD treatments, Indivior has a pipeline of product
candidates designed to both expand on its heritage in this category and
potentially address other chronic conditions and co-occurring disorders of
SUD, including alcohol use disorder and cannabis use disorder. Headquartered
in the United States in Richmond, VA, Indivior employs over 1,100 individuals
globally and its portfolio of products is available in 37 countries worldwide.
Visit www.indivior.com (https://www.indivior.com/en)  to learn more. Connect
with Indivior on LinkedIn by
visiting https://www.linkedin.com/company/indivior
(https://www.linkedin.com/company/indivior) .

 

Important Cautionary Note Regarding Forward-Looking Statements

This announcement contains certain statements that are forward-looking.
Forward-looking statements include, among other things, statements regarding:
the Indivior Group's financial guidance including operating and profit margins
for 2024 and its medium- and long-term growth outlook; assumptions regarding
expected changes in share and expectations regarding the extent and impact of
competition; assumptions regarding future exchange rates; strategic
priorities, strategies for value creation, and operational goals; expected
future growth and expectations for sales levels for particular products, and
expectations regarding the future impact of factors that have affected sales
in the past; expected growth rates, growing normalization of medically
assisted treatment for opioid use disorder, and expanded access to treatment;
our product development pipeline and potential future products, expectations
regarding regulatory approval of such product candidates, the timing of such
approvals, and the timing of commercial launch of such products or product
candidates, and eventual annual revenues of such future products; expectations
regarding future production at the Group's Raleigh, North Carolina
manufacturing facility; our intention to seek shareholder approval in May 2024
to facilitate a primary listing in the U.S. while maintaining a secondary
listing in the U.K., and the expected timing and potential benefits of such
listing; and other statements containing the words "believe," "anticipate,"
"plan," "expect," "intend," "estimate," "forecast," "strategy," "target,"
"guidance," "outlook," "potential," "project," "priority," "may," "will,"
"should," "would," "could," "can," "outlook," "guidance," the negatives
thereof, and variations thereon and similar expressions. By their nature,
forward-looking statements involve risks and uncertainties as they relate to
events or circumstances that may or may not occur in the future.

Actual results may differ materially from those expressed or implied in such
statements because they relate to future events. Various factors may cause
differences between Indivior's expectations and actual results, including,
among others, the material risks described in the most recent Indivior PLC
Annual Report and in subsequent releases; the substantial litigation and
ongoing investigations to which we are or may become a party; our reliance on
third parties to manufacture commercial supplies of most of our products,
conduct our clinical trials and at times to collaborate on products in our
pipeline; our ability to comply with legal and regulatory settlements,
healthcare laws and regulations, requirements imposed by regulatory agencies
and payment and reporting obligations under government pricing programs; risks
related to the manufacture and distribution of our products, most of which
contain controlled substances; market acceptance of our products as well as
our ability to commercialize our products and compete with other market
participants; competition; the uncertainties related to the development of new
products, including through acquisitions, and the related regulatory approval
process; our dependence on third-party payors for the reimbursement of our
products and the increasing focus on pricing and competition in our industry;
unintended side effects caused by the clinical study or commercial use of our
products; our ability to successfully execute acquisitions, partnerships,
joint ventures, dispositions or other strategic acquisitions; our ability to
protect our intellectual property rights and the substantial cost of
litigation or other proceedings related to intellectual property rights; the
risks related to product liability claims or product recalls; the significant
amount of laws and regulations that we are subject to, including due to the
international nature of our business; macroeconomic trends and other global
developments such as armed conflicts and pandemics; the terms of our debt
instruments, changes in our credit ratings and our ability to service our
indebtedness and other obligations as they come due; changes in applicable tax
rate or tax rules, regulations or interpretations and our ability to realize
our deferred tax assets; and volatility in our share price due to factors
unrelated to our operating performance or that may result from the potential
move of our primary listing to the U.S.

Forward-looking statements speak only as of the date that they are made and
should be regarded solely as our current plans, estimates and beliefs. Except
as required by law, we do not undertake and specifically decline any
obligation to update, republish or revise forward-looking statements to
reflect future events or circumstances or to reflect the occurrences of
unanticipated events.

 

 

 

Media Contacts:

 

US Media:

Cassie France-Kelly

Vice President, Communications

Indivior PLC

Tel: 804-724-0327

 

UK Media:

Teneo

Tel: +44 207-353-4200

 

Investors and Analysts:

Jason Thompson

Vice President, Investor Relations

Indivior PLC

Tel: 804-402-7123

 

Tim Owens

Director, Investor Relations

Indivior PLC

Tel: 804-263-3978

 

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