(Alliance News) - Indivior PLC on Friday announced that it has upped its revenue guidance for last year amid good performance from an opioid addiction treatment drug.
Shares in Indivior were trading 8.9% higher at 114.35 pence each on Friday morning in London.
Indivior raised its 2020 revenue guidance to a range between USD645 million and GBP650 million from a previous guided range of USD595 million to GBP620 million.
The guidance upgrade came as the FTSE 250-listed drug manufacturer lifted its annual net revenue guidance for opioid addiction treatment Sublocade to between USD128 million to GBP130 million from its previous forecast of USD120 million to GBP125 million.
It noted that Sublocade has seen benefits from modest stocking activity in the US in the fourth quarter.
Net revenue for 2019 was USD785 million.
Indivior added that its operating expense base is expected to be slightly below guidance of between USD470 million to USD480 million. As a result, it expects to deliver adjusted pretax profit ahead of its previous expectations.
By Ife Taiwo; ifetaiwo@alliancenews.com
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Indivior (INDV)