(Alliance News) - Indivior PLC on Thursday said it has retained its financial 2021 guidance as a result of a first-quarter revenue rise.
The Richmond, Virginia-based pharmaceutical firm's revenue for the first quarter increased by 18% to USD180 million from USD153 million a year prior, while it swung to a net profit of USD80 million from a USD163 million loss.
Indivior said results benefited from higher net revenue from Sublocade, continued growth in the buprenorphine medication-assisted market, and relative market share stability in the US for Suboxone film.
"We have seen an encouraging start in financial 2021 with growth in net revenue, operating profit and cash from execution against our strategic priorities. Despite the ongoing impacts of Covid-19, the Sublocade injection achieved solid net revenue growth both on a sequential and year-over-year basis, and we expanded our organized health systems platform to build the foundation for future growth," says Chief Executive Mark Crossley.
Looking ahead, Indivior said it is seeing healthcare restrictions in the US begin to ease from the rapid pace of Covid-19 vaccinations.
"As such, we are reiterating our financial 2021 base case guidance," Crossley added.
Shares in Indivior were up 0.9% at 144.30 pence in London on Thursday.
By Zoe Wickens; zoewickens@alliancenews.com
Copyright 2021 Alliance News Limited. All Rights Reserved.
Indivior (INDV)