Indivior gets shot of pain relief from Canada

Health Canada gave the green light to Sublocade, an extended-release buprenorphine injection, for the management of moderate to severe opioid use disorder in adults.

Canada saw 3,996 and 3,005 apparent opioid-related deaths in 2017 and 2016, with at least 1,036 in the first quarter of 2018, according to a special advisory committee on the 'epidemic of opioid overdoses'.

Indivior has made much slower progress with Sublocade than hoped. Since being approved in the US last December and launched at the beginning of March, the company has only sold $5m of the drug in the US, including $3m in the third quarter of 2018.

In September, the FTSE 250 company downgraded full year expectations for Sublocade in light of slow commercial uptake, down to $8-10m from $25-50m.

Shares in Indivior lost more than half their value this week, falling to an all-time low below 94p, after losing a court decision over its biggest selling drug, Suboxone Film, which makes up the majority of its revenues. The likely lifting of an injunction preventing a rival drugmaker selling its copycat version of the film could lead to Indivior losing 80% of its market share.

The shares were up 1% to 101.3p on Friday morning.