Member Info for mythyaar

Unfortunately it doesn't appear to be archived. You need to subscribe in advance of the quarterly calls (usually 1pm on day that results are announced). I can't temember how I did it but they send you a link in advance of thecall. The calls ladt about 45 minutes and are very useful. The next one will be towards the end of July.

Yes, Mark Crossley was saying that he appreciated the concerns about the litigation, but that they were progressing matters. He said he was limited/ restricted in what he could say on the matter but you could read between the lines that positive developments were happening in the backgrpund.

Great news and at the last presentation, they were strongly hinting that they were progressing well with the mediation to settle. I was fearful a few weeks ago that this had stalled somewhat, so a relief.

They would have been desperate to have this matter resolved prior to Nasdaq listing, so kudos to them for getting it out of the way in time - should be a good run to come now!

Idkmybffjill. Thanks for the updates.

1. Camurus - is it that big of a deal? The market is growing, there are no signs of the opioid crisis abating. Will Camurus really be eating into Indivior's market share, which is still only scratching the surface at 2%? Even if Indivior maintained the 2% of a growing market, they'd still hit over £1 billion turnover, particularly with the OPVEE add on from Q4 onwards (likely £150 mill p.a thereafter).

2. good news about the Nasdaq date now made known.

3. Litigation - seems to be a tactic by the Indivior legal advisors to get it thrown out. Standard procedure I don't doubt. However, it doesn't seem that the mediation behind the scenes (and any potential settlement) is that near if they're employing such a tactic. Patience wearing thin?

Maybe you spoke too soon!

Same as it was last year now, give or take a few pence!

Thanks Cashola. Obviously, the two examples you've given aren't really impacted by time zones. Would be interesting if for example, INDV went on a run (either up or down) on the FTSE and that then continued on the NASDAQ?!

One of the questions on the investors call was how this additional listing was going to impact INDV UK listing and if it was eventually going to replace it. The response was that it wasn't (as far as I understood). Does anyone know what the impact will be of having two listings?

Initial thoughts

1. Revenues increasing and on track
2. Profits not mirroring increasing revenues (6% v 22%) so quite a bit of expenditure behind the scenes. But still fine, albeit they've slightly reduced down FY23 profit forecasts from a couple of months ago.
3. On track for June US listing.
4. V interested in litigation issues (note 14). Encouraged that the big one where provision has already been made, it's scheduled to go to court in September 23, and that mediation (without prejudice demands from plaintiffs and counter offers from Indivior) has taken place with potential further mediation meetings to come. You would hope that it will be settled before it gets to court.
5. 3 other litigation matters identified where no current provision has been made by Indivior but that they believe they have a robust defense.

No further shocks really, so pleased enough.

Whatever the reverse of the midas touch is, Tango seems to have it with Indivior :-(

...better

To paraphrase the Francesca Washtell's City Whispers article: Mark Crossley's remuneration has doubled, at the same time that legal concerns/ actions are high, the legal dept is very busy. Hinting that the unknown liability of these pending actions makes Indivior a risky casino share, and therefore Crossley's increased rewards were/are unmerited.

She could have gone further. The decision by 5 of the board - safety in numbers - to sell up a combined £5 million shares on 9th March at £15 was a terrible optic during the SP turmoil, and certainly no vote of confidence in the depressed SP at the time. PR wise - what on earth were they thinking?! Kathryn Hudson, company secretary, ridding herself of shares on almost a weekly basis, either by selling direct or transferring to her partner - another really bad look. And no director purchases of shares at what some would argue is a bargain basement price. It begs the obvious question, what do they know that we, the mere shareholders, don't?

All of the above lends itself to the narrative that Littleton1 is following/ even promoting. And I can understand that. It's clear that Indivior do not know what their potential legal liabilities are, or how some of the cases are playing out, or could. The statement that they made that provisions could be materially different from actual, is so open ended, but slanted on the negative side, that it needs a LOT more clarity in the coming quarterly reports.

However, balance is required here. Directors can buy and sell as they please and that is no indication of the state of the company if they do either, nor do they necessarily know more than the average shareholder.

Investor relations are open to all. You can phone or e mail Tim Owens or Jason Thompson (has anyone)? You can even phone or e mail Mark Crossley.

You would assume, rightly or wrongly, that the likes of Morgan Stanley, have been in touch with the above and sought re assurances about some of the current issues, and have been satisfied enough by the responses that they've been happy to increase their holdings post Feb results. That has to be a positive.

Legal actions are part and parcel of any pharmas daily life. The statement that Indivior made about not being able to quantify the liabilities was what has set the hare racing.

As Indivior forecast future earnings to year end in Feb, probably as a tactic to try to undo some of the negative headwinds about the c £250million legal provision, earnings and to a lesser degree profits are not key in the next quarterly statement - as unless they've deviated significantly from Feb's indications, they've been booked - move on.

Nor is the listing in the US a priority. We'd like to know, sure.

The priority for the main board to address on the May conference call and in its report, is the elephant in the room, legal actions, and progress or otherwise made. They can't be rolling out the "we still don't know our liabilities" line. They have to do

Tango Cash. Only a month ago you were making cogent even bullish noises about Indivior, post results. Now you've turned very negative. Not a lot has changed in that period,so why the new negative sentiment from you?

It's dropping due to the uncertainty over the legal action. The current provision should be enough, however, it's caveated by Indivior in their that it may not be, and that's alarming for potential investors.

Once the action is resolved, and we don't know when that is but should get an update next month, we should see a recovery.

I don't buy the Nasdaq being the silver bullet for a share price recovery either. If you look at some of the other pharmas there eg Pfizer, their PE s are fairly low/ depressed - probably good value tbf.

Nothing too scary on first reading

https://www.indivior.com/resources/dam/id/1147/Annual%20Report%20and%20Accounts%202022.pdf

Looks like 4 directors on a long term share incentive plan cashed out quite a chunk of their holdings. Approx two thirds of their holdings in the 3 of the 4 cases.

You committed yet Volcano?! 1470p available - or waiting for further drop?

For another 500 shares at 1605p. Prepared to keep holding and holding so all good.

I couldn't help myself. I got another 500 at 1570p. I'm in for the long haul and hoping they've kitchen sinked these results - worst case - in preparation for Nasdaq float. No more nasty surprises and indeed an improvement on the provision for litigation would then create another spike.

Well, that seems to have gone down like a lead balloon!