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The addiction treatment specialist, Indivior, said his profits had fallen by almost a fifth in the first half and that he was unable to provide profit forecasts for the first half of the year. year because it fights the unfavorable conditions of the American market. In its half-year results at June 30, the London-listed company said net business turnover fell 5 percent to $ 524 million compared with the same period last year, while operating profit fell 18 percent. $ 200 million
The company's shares fell by 20% early in the trading session on Wednesday.
Earlier this month, Indivior said it was unable to provide guidance on the year's results. Launch of a generic competitor of the company's Suboxone film, competitor of Dr. Reddy's Laboratories
Indivior seeks to block the DRL's presence in the United States in court and has received an injunction in July, temporarily banning the sale of DRL. However, Indivior said on Wednesday that "given the current uncertainties as to the depth of entry into the DRL market", it was not able to issue any new guidelines.
The expected profits will be published "as soon as reasonably possible," he says, no later than the third quarter, to be published in November.
Despite a growing market for the treatment of opioid addiction in the United States – Indivior's main market – and the rest of the world, the company said it lost market share to DRL during the six months: its Suboxone movie market share averaged 54% in the first half of 2018, compared with 59% in the same period last year The number of US patients using its Medicaid-based treatments also weighed in on profits, the company said.
The net income of Indivior's new treatment, Sublocade, are also below expectations, at $ 2 million, but the company expects a better performance in the second half, health care providers and insurers becoming familiar with the treatment. The company expects revenues of the order of $ 25 million to $ 50 million for Sublocade, and is confident that it will reach its goal of generating a net annual business figure of more than $ 1 billion. .
He had launched a cost-saving initiative to achieve at least $ 25 million in savings in 2018, which targets non-critical administrative and sales costs.
Indivior also stated that he was in "advanced discussions about a possible solution". Judicial inquiry into his marketing practices. * A resolution would be a "major positive catalyst," said James Vane-Tempest, an analyst at Jefferies. However, sales of Sublocade, lower than expected, "highlight the difficulties associated with a slow transition of patients from initiation to injection," he said.
"While our business in the United States has recently been affected by known risks that have materialized, we remain true to our vision of ensuring that patients around the world have access to factual treatment for their addiction. and its concomitant disorders, "said General Manager Shaun Thaxter.
"Our main goal is to ensure the successful progression of Sublocade as it begins its transformation of treatment for opioid use disorder," he said.
* This has been modified to clarify the nature of the investigation
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