Indivior surges as it upgrades revenue guidance again

Indivior shares rallied on Tuesday after the pharmaceuticals company lifted its revenue outlook again following a stronger-than-expected performance from its opioid-addiction treatment Suboxone.

It now expects full-year 2019 revenue to be in the range of $750m to $790m, up from previous guidance of between $670m and $720. Meanwhile, net income is expected to come in between $160m and $190m, up from a previous range of $80m to $130m.

Chief executive officer Shaun Thaxter said: "We are raising FY 2019 guidance to reflect continued stronger-than-expected market share performance of Suboxone Film. We cannot be certain how long this benefit will last and hence we continue to prudently manage the additional cash flow this is providing us to help transition our business towards our novel depot technologies, Sublocade and Perseris.

"Our decision to discontinue production of the authorised generic buprenorphine/naloxone sublingual film in light of the newly passed legislation was not taken lightly. This action is, however, necessary for Indivior to meet its obligations to its stakeholders and to continue our relentless focus on combating the opioid crisis with Sublocade."

The company had already upgraded its revenue guidance in July from a previous range of $525m to $575m and its net income guidance from between $40m and $10m.

At 1015 BST, the shares were up 8% at 53.36p.