(Alliance News) - Indivior PLC on Wednesday said it aims to list on the Nasdaq in spring 2023 as it expects its injection Sublocade to reach peak annual net revenue of over USD1.5 billion.
The Richmond, Virginia-based pharmaceutical firm noted strong support for an additional share listing in the US at its extraordinary general meeting in September. It explained on Wednesday: "Having carefully evaluated the available options, Indivior has chosen Nasdaq as its US trading venue. The additional listing is expected to elevate Indivior's profile in the company's largest market and to attract a broader group of biopharma-focused investors and analysts."
On a positive note, it expects its Sublocade injection to achieve a net revenue run rate of USD1 billion by the end of 2025, with peak potential of over USD1.5 billion. Sublocade is used for the treatment of moderate to severe opioid use disorder in adults who have started treatment with a product that contains buprenorphine for a minimum of seven days, the company says on its website. Buprenorphine is a partial opioid agonist, meaning it has a weaker effect than full opioid agonists such as methadone or heroin. Indivior is injected once a month.
Sublocade was approved by the US Food & Drug Administration in 2017.
Meanwhile, Indivior expects a double-digit percent net revenue compounded annual growth rate over the medium-term, boosted mainly by Sublocade.
Indivior shares rose 6.0% to 1,772.00 pence each on Wednesday morning in London.
By Tom Budszus, Alliance News reporter
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Indivior (INDV)