Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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Https://otp.tools.investis.com/clients/uk/indivior2/rns/regulatory-story.aspx?cid=971&newsid=1710474
2 down, 1 to goā¦
I guess just crickets here until next earnings? Or we get another lawsuit settlementā¦
Just read the earnings call transcript. I get the sense that INDV isnāt willing to settle the remaining cases unless itās much less than the $187 million remaining in the settlement charges. They have more leverage the closer we get to the trial dateā¦
I guess this is the fear/cloud looming over the stock and why a 25% revenue growth company is trading at a PE of 11.
Old news. This is more than baked in to the price.
The former pharmaceuticals business of Reckitt Benckiser has issued a going concern warning as it continues to battle lawsuits over its blockbuster opioid addiction treatment.
Indivior, a FTSE 250 drugs company based in Slough, Berkshire, is facing a trial in a federal court in the United States in October over allegations from a group of claimants that it violated antitrust and consumer protection laws in its marketing of Suboxone Film.
Indivior is exploring a possible settlement as it prepares for the trial in the Eastern District of Pennsylvania and believes it has āmeritorious defencesā.
However, it cautioned that if it were found liable at trial and was unable to reduce the damages it ārepresents a material uncertainty that may cast significant doubt upon the groupās ability to adopt the going concern basis of accounting in the futureā.
Indivior was spun off from Reckitt, the FTSE 100 consumer goods group behind Nurofen and Dettol, in 2014 and has built a dominant position in the US, where its treatments are prescribed to recovering addicts to reduce withdrawal symptoms amid an addiction crisis.
But its reputation, balance sheet and share price have been hampered by investigations and lawsuits relating to Suboxone. Indivior agreed to pay $600 million to the US authorities and admitted a criminal charge to resolve an investigation into the marketing of its opioid addiction treatment three years ago. Shaun Thaxter, Indiviorās former chief executive, was also jailed for six months in the US after pleading guilty in 2020 to introducing misbranded drugs into interstate commerce.
Separately, Indivior reached a $103 million agreement to resolve claims brought by more than 40 states in June in multi-district litigation, but remains in dispute with two other sets of claimants. It made a total provision of $290 million to cover the litigation, including the $103 million settlement.
Shares in Indivior, which dual listed on New Yorkās Nasdaq last month, closed down 49p, or 2.6 per cent, at Ā£18.25 on the London Stock Exchange, despite issuing strong half-year sales and upgrading its forecasts.
James Vane-Tempest, an analyst at Jefferies, said the going concern warning was the āwildcard ultimate downside scenario which would likely have to assume no settlement, Indivior goes to trial and loses and all appeals are lost and triple damages are awardedā.
Mark Crossley, Indiviorās chief executive, said āwe are focused on resolving outstanding matters at the right valueā.
Also, good article.
Why did you get out? I really donāt understand why people trade this stock.
Indivior gets a mention in WSJ today for its anti-alcohol misuse drug development. Personally, I sold out today but may get back if we fall much from here.
https://www.wsj.com/articles/synthetic-alcohol-no-hangover-511fc418
Jefferies raises Indivior price target to 2,555 (2,330) pence - 'buy'
BetterX, I think these are hedge funds trading through Morgan Stanley. Youāll notice the filings say itās all equity swaps.
The results are very good but gave the opportunity for profit taking. I wonder whether Morgan Stanley (MS) will buy back in once the SP has settled (currently 17.51 but has been down to approx 17.20). MS have been in and out on a regular basis & the size of their holding when invested (approx 6%) drives the SP. I think they will buy-in again.
Crossley is giving a live telecast at 1pm UK time. That should be a positive for the SP.
Well, positive results but down 6+ %.
Interesting that Morgan Stanley sold all their shares yesterday before todays drop!
INDV continues strong growth with 2023 guidance raised. Results highlights:
Strong H1 and Q2 2023 Financial Results; FY 2023 Guidance Raised
ā¢ Q2 2023 SUBLOCADEĀ® Net Revenue (NR) of $155m, +58% versus Q2 2022
ā¢ OPVEEĀ® launch projected for Q4 2023
ā¢ FY 2023 SUBLOCADE NR and overall NR guidance raised; FY 2023 adjusted operating income now expected to be higher than FY 2022
Looks like increased revenue gobbled up by expenses / wage inflation etc to reduce profit. Not entirely sure how market will react to that.
Revenue up 25%, and full year guidance increased by another 18%. Onwards and upwards - Ā£20 falling soon, on way to all time high before year end?
5.9 million shares traded yesterdayā¦.whaaaaa???
Finally closed above 1800. Although market markers keep tanking the price in the last 5 mins of the day.
Got it! Thanks very much.
INDV is the US ticker symbol.
Where can I check whatās happening with Indivior on Nasdaq
The NASDAQ share is still trading at a premium to the UK one if you convert currencies. So US still needs to drop or UK needs to go up so the spread between the two is minimal.
Celebrated the new listing on the NASDAQ by buying a few in my Charles Schwab account, at a fairly tasty $22.01. Hope they enjoy ringing that bell tomorrow. Currently 3.3% down on Wall Street.