Slough, UK and Richmond, VA, September 26, 2018 – Indivior PLC (LON: INDV) today is providing a further update on key business drivers and expectations related to:
- FY 2018 net revenue and net income guidance;
- SUBLOCADE™ net revenue development;
- Cost savings initiatives to provide further downside protection; and
- PERSERIS™ launch timing and resourcing.
FY 2018 Guidance:
Indivior today provided revised FY 2018 guidance of net revenue of $990-$1,020 million and net income in a range of $230-$255 million, excluding exceptional items and at constant FX.
- FY 2018 net revenue guidance assumes the following:
- No material changes in current market conditions in the U.S., chiefly that the U.S. Court of Appeals for the Federal Circuit (CAFC) upholds the preliminary injunction (PI) granted by the U.S. District Court of New Jersey (the District Court) whereby Dr. Reddy’s Laboratories remains prohibited from selling, offering to sell, or importing its generic buprenorphine/naloxone sublingual film product and / or generally an 'at risk' launch of a generic buprenorphine/naloxone film product will not take place during the year;
- Intensifying competitive pressure in ROW due to continued healthcare austerity measures and increased competition in Europe, partially offset by continued growth in Australasia; and,
- Net revenue expectations for SUBLOCADE™, which are expected to be between $8 to $10 million.
- FY 2018 net income guidance assumes the following:
- Pre-tax savings of $55 million from cost actions the Group is taking to streamline the organization;
- Continued investments to drive progression of SUBLOCADE™, increase access to treatment for OUD patients and to support continued compliance enhancements;
- Finance expense benefits from the prepayment of $150m of the term loan facilities; and,
- A mid-teens effective tax rate from the recently enacted tax law change in the US, along with the Group’s existing tax position.
Read the full update here.
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