Indivior CEO snaps up £80,000 of shares after results disappointment

The day after presiding over Indivior's disappointing first set of results after its demerger from Reckitt Benckiser, chief executive Shaun Thaxter has splashed out £80,000 on shares in the company.

Results showed that net income sank at a double-digit rate, with management slashing revenue guidance for 2015 due to a "very uncertain" outlook, clouded by competition from generic drugs.

In calendar 2014, the speciality pharmaceuticals business, which demerged in December, saw revenues sink 8% to $1.12bn after adjusting for costs from the December demerger, with adjusted net income down 13% to $420m and earnings per share falling 13% to 58 cents.

Thaxter purchased 50,000 shares at prices ranging between 151.2p and 163.36p.

Tullow NXD tucks in

A non-executive director in Tullow Oil also increased his stake, showing confidence in the group one day after it suspended its final dividend for 2014. He bought £24,851 worth of shares at 381.4p.

This follows Wednesday's news that the oil company swung to a loss of over $2bn on the back of hefty impairment charges and exploration write-offs. “2014 was a difficult year for our industry and a challenging one for Tullow as our results today demonstrate,” said chief executive Aidan Heavey.

“In response to this, and the fall in the oil price, we have reset our business and are focusing our capital expenditure on high-quality, low-cost oil production in West Africa,” he said.

Top Director Buys

Tullow Oil (TLW)
Director name: Mr Simon R Thompson
Amount purchased: 6,515 @ 381.44p
Value: £24,851

Gable Holdings Inc. (GAH)
Director name: Mr William Dewsall
Amount purchased: 50,000 @ 44.63p
Value: £22,315

JPMorgan Russian Securities (JRS)
Director name: Mr Robert Jeens
Amount purchased: 5,000 @ 329.00p
Value: £16,450

Indivior (INDV)
Director name: Mr Shaun Thaxter
Amount purchased: 10,000 @ 163.36p
Value: £16,336

Indivior (INDV)
Director name: Mr Shaun Thaxter
Amount purchased: 10,000 @ 162.80p
Value: £16,280

Indivior (INDV)
Director name: Mr Shaun Thaxter
Amount purchased: 10,000 @ 162.24p
Value: £16,224

Indivior (INDV)
Director name: Mr Shaun Thaxter
Amount purchased: 10,000 @ 161.33p
Value: £16,133

Indivior (INDV)
Director name: Mr Shaun Thaxter
Amount purchased: 10,000 @ 151.20p
Value: £15,120

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