Indivior

Ticker INDV

Today's data summary

Market open
% change
-2.44%
Price Pence
44.44
Change
-1.11
As of 12:53 01 Apr 2020
Market cap. Pound sterling
325.63 million
As of 12:53 01 Apr 2020

Latest updates

Indivior shares soar on improved outlook

Suboxone
Getty Images

Shares in Indivior, maker of the opioid addiction treatment Suboxone, jumped by 23% 54.48p after it lifted its outlook for the full-year.

It now expects to make a annual profit of between $80m (£63.8m) to $130m, after a better than expected performance of Suboxone.

Indivior had previously forecast a loss of $40m to a profit of $10m.

The company also expects annual revenues of between $670m (£534.6m) and $720m. It compares to previous forecasts of between $525m and $575m.

Indivior said Suboxone had performed better than expected.

Indivior was previously part of Reckitt Benckiser which today said it had paid $1.4bn to settle claims in the US over the sales and marketing of Suboxone.

Three-horse race

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Superdry, as reported earlier, has had a torrid day - and year - on the stock market. According to Bloomberg it is in a three-way race with Indivior and Thomas Cook to be the worst performing stock of 2018.

Copycat drug could hit Indivior

Drugs
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Drugmaker Indivior stuck to its full-year forecast today even though a US court allowed an Indian generic rival to sell a copycat version of the company's blockbuster opioid addiction treatment drug.

Invidior said its 2018 net revenue forecast of $990m to $1.02bn and net income forecast of $230m to $255m remained valid, but warned that the launch of a generic version of Suboxone Film by India's Dr Reddy's Laboratories this year would present a risk to its forecast.

FTSE 100 reverses falls

The FTSE 100 has reversed earlier falls and is now up 0.23% at 7,528.46.

There's no change at the top of the biggest risers and fallers - travel group TUI is up 2% at £14.68 while distribution company DCC's share price is down 4% at £70.12.

The FTSE 250 is down 0.31% at 20,373.

Shares in drug-maker Indivior tumbled 17.7% after it cut its full-year guidance and admitted it had “substantially underestimated” the length of time it would take to release a new treatment.

ITV leads FTSE risers, Indivior trumbles

Suboxone
Getty Images

After a shaky start to trading, ITV's share price is now up 1.4% at 172.45p and leading the FTSE 100 risers.

Conversely, chemicals specialist Croda International is the biggest blue chip faller - down 3.2% at £47.76 - despite reporting a rise in interim profit and an increase in its dividend payment to shareholders.

The wider FTSE 100 has extended early falls and is now down 0.29% at 7,686.52.

On the FTSE 250, drugs maker Indivior's shares tumbled 18.8% at 270.9p after it warned that the impact from a generic version of its Suboxone opioid addiction treatment "could be materially higher".

Discount retailer B&M made the largest gains, with its share price up 3.5% at 425.7p.

The FTSE 250 gave up early gains and is now down 0.26% at 20,799.25.