* Expects 2021 sales of up to $625 mln, assuming recovery in
H2
* In the worst case, forecasts 2021 sales of $565 mln
* 2020 sales fall 18%, swings to operating loss on legal hit
* Shares down 1.3% in early trade
(Adds details on legal settlements, newer drugs)
By Pushkala Aripaka
Feb 18 (Reuters) - Opioid addiction treatment maker Indivior
on Thursday predicted 2021 revenue would slip on a
difficult first-half after sales fell 18% this year due to
cheaper rivals to its best-selling drug and disruption from the
COVID-19 pandemic.
The company expects net revenue of up to $625 million,
assuming that coronavirus restrictions that have kept patients
away from hospitals and limited access to medicines will be
lifted in the second half.
However, if those restrictions persist, net revenue is seen
at $565 million, sending the London-listed company's shares 1.3%
lower at 147 pence in early trading.
The drugmaker, which gets the bulk of its sales from the
United States, is focusing on growing newer treatments such as
injectable opioid-addiction treatment Sublocade, and Perseris
for schizophrenia to boost its fortunes.
It expects Sublocade sales of $185 million to $210 million
in its most likely case, and Perseris net revenue of $17 million
to $20 million.
"Accelerating the growth of Sublocade remains the biggest
potential driver of value creation," Chief Executive Officer
Mark Crossley said, adding that Indivior aimed to hit peak sales
of more than $1 billion for the treatment.
Indivior was grappling with drawn-out legal challenges and
competition even before the virus outbreak hammered the
healthcare sector. Former parent Reckitt Benckiser this
month withdrew a $1.4 billion claim against the company to end a
legal battle related to a U.S. probe into opioid addiction.
Indivior swung to an operating loss of $156 million for the
12 months ended Dec. 31 because of legal settlements worth $228
million. Excluding one-time items, operating profit was $88
million.
The drugmaker in September said it planned for up to $70
million in cost savings in 2020 as it restructures its supply
channels. That programme was now complete, the company said on
Thursday.
Revenue fell to $647 million from $785 million, in line with
company's prediction last month.
(Reporting by Pushkala Aripaka in Bengaluru; Editing by Sriraj
Kalluvila; editing by David Evans)
