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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Indivior Plc | INDV | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
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|---|---|---|---|---|
| 1.00 | 0.11% | 914.50 | 16:35:02 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 909.00 | 897.00 | 930.00 | 914.50 | 913.50 |
| Industry Sector |
|---|
| PHARMACEUTICALS & BIOTECHNOLOGY |
| Top Posts |
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Posted at 07/11/2024 19:03 by imjustdandy Board of DirectorsIndivior PLC 10710 Midlothian Turnpike, Suite 125 North Chesterfield, Virginia 23235 To the Members of the Board of Directors: As you know, Oaktree Capital Management, L.P. (“Oaktree̶ It is unacceptable that Indivior’s stock price has plummeted more than 50% in the past year. In the face of that value destruction, Oaktree has attempted to engage constructively with the Company’s Board to address shareholder concerns and improve shareholder value. However, instead of coming to the table collaboratively and demonstrating that they are taking action, the Board and management seem to be doubling down on a failing strategy, ignoring competitive threats and allowing costs to spiral. The Board and management’s actions, or lack thereof, have caused Indivior to underperform the S&P Composite 1500 Pharmaceuticals Select Industry Index by (68%), (71%) and (77%), over a 1-year, 2-year and 3-year period respectively.1 Rather than focusing on Indivior’s core product, Sublocade, the Company spent valuable time and money on unproductive acquisitions, a now-discontinued business line, and excessive R&D. All the while, the Company essentially disregarded Brixadi’s entrance into the market by failing to take basic steps to protect Sublocade’s competitive position. As an example, the Company waited seven years after Sublocade’s initial FDA approval and more than a year after its competitor’s entry into the market before submitting its prior approval supplements to the FDA for Rapid Induction and Alternative Injection Sites – a pivotal step that would have solidified Sublocade’s dominant position and subdued the competitive threat from Brixadi. As a result, shareholders have suffered a more than 50% loss. Indivior’s communications regarding its 2024 financial guidance serve as a telling example. At Indivior’s May 23, 2024 analyst teach-in event, management reiterated its full-year and long-term guidance metrics. Six weeks after that, management lowered its financial guidance: they cited Medicaid redetermination and a litany of other reasons but continued to dismiss the increasingly obvious competitive threat from Brixadi. Five months later, management took down guidance again, finally appearing to acknowledge an aggressive competitor. Management either didn’t recognize the competitive threat, or worse, they failed to appropriately alert the investing public about it. To be clear, we strongly believe in the Company’s mission to alleviate the severe human suffering brought about by the opioid crisis and Sublocade’s key role. However, the rapid decline of shareholder value and the events of the past year – including a lack of focus and accountability by the Board and management, as well as failure to recognize and counter such a clear competitive threat – have exacerbated investor concerns around the Company’s strategy and the Board’s willingness and ability to hold management accountable. 1 As of November 5, 2024. 1 Oaktree Capital Management, L.P. 333 South Grand Avenue, 28th floor Los Angeles, CA 90071 p +1 213 830-6300 oaktreecapital.com The Company must take immediate steps to address the following key concerns: 1) Fix Capital Allocation Strategy and Cost Structure Indivior’s capital allocation strategy has not produced results. • Opiant: the Company acquired Opiant in March 2023 for $145 million, which has yet to generate meaningful revenue from its key product, Opvee, despite it receiving FDA approval in May 2023. • Perseris: after significant R&D and operational expenses, management announced that it would discontinue sales and marketing of the product in July 2024, less than two months after reiterating guidance of peak sales of $200 to $300 million. • Manufacturing site: an $85 million investment2 to insource Sublocade and Perseris production seems misguided given the fate of Perseris and the minimal existing internal manufacturing process and know-how. Indivior’s cost structure is bloated. • Costs continue to soar: from fiscal-year 2018 to 2023,adjusted operating expenses have increased by over 19% while revenue increased by only 4%.3 • Operating expenses far exceed peers: Indivior’s operating expenses (excluding R&D) as a percentage of revenue have averaged almost 1400 basis points higher than its peers over the last five years.4 2) Hold Management Accountable The Company’s pattern of missteps must end. • The Board seemingly failed to push management to prepare for Brixadi’s market entry, despite common understanding of Brixadi’s desire (dating as far back as 2014) to compete with Sublocade in the U.S. market. Furthermore, the Company: o Failed to timely counter potential, but addressable, weaknesses of Sublocade (the drug’s shelf life and FDA approval for rapid induction and alternate injection sites). o Didn’t appropriately prepare for competition in the criminal justice system channel, which led to the Company losing a material contract. • The management team has fallen short in its communication with the market, consistently understating material financial impacts, often despite direct questions on the subject. For example, they: o Stated there would be no impact on guidance from Medicaid redetermination disenrollments, then a few months later cited these disenrollments as a reason for the Company’s reduction in its financial outlook. o Said there would be no impact on financial performance from competition, then blamed competition for poor financials just a few months later. 2 Per November 9, 2023, investor presentation slide 11: $5.5 million upfront consideration, $30 million in assumed contract liabilities and capital expenditures of $45 to $55mm over the next three years. 3 Figures in aggregate. 4 Peers include Alkermes PLC, Jazz Pharmaceuticals PLC, Supernus Pharmaceuticals Inc., Pacira BioSciences Inc., Neurocrine Biosciences Inc., Collegium Pharmaceutical Inc. and Endo Inc. 2 Oaktree Capital Management, L.P. 333 South Grand Avenue, 28th floor Los Angeles, CA 90071 p +1 213 830-6300 oaktreecapital.com 3) Align Board with Shareholders We are deeply concerned that the Board has failed to hold management, and themselves, accountable for the Company’s failures and destruction of shareholder value. Further, the non-executive members of the Board hold no meaningful amount of stock, and, unlike most U.S.-listed companies, the Company does not promote alignment with shareholders by compensating non-executive directors in stock. We believe that the Board must address these issues immediately and work with us to refresh the Board with directors who are committed to taking all steps necessary to improve shareholder value and hold management accountable as they seek to address the Company’s performance. While we remain interested in working constructively with the Board, we believe it is evident that shareholders are extremely concerned about Indivior’s performance and direction and would support action to effectuate change if necessary. We look forward to continuing our communications in the coming weeks. Andrew Diego West Managing Director Value Opportunities Oaktree Capital Management, L.P. 3 |
Posted at 21/10/2024 07:39 by tsmith2 Slough, UK, and Richmond, VA, October 15, 2024 - Indivior PLC (NASDAQ/LSE: INDV) today announced that it will release its year-to-date and Q3 2024 results on October 24th at 7:00 a.m. London time (2:00 a.m. U.S. Eastern). The results will be available via the London Stock Exchange's Regulatory News Service (RNS) and on the "Investors" section of the company's website at www.indivior.com.Mar |
Posted at 10/10/2024 17:49 by waldron Benjamin ChiouSharecast News 10 Oct, 2024 17:01 Europe close: Stocks inch lower after choppy session Thursday saw choppy trading across European stock markets with the region's main benchmark finishing lower but moving within a narrow range, as investors focused on mixed economic data from the US and developments in the Middle East. The Stoxx 600 index closed down 0.18% (0.94 points) at 519.11, with less than four points separating the intraday high (521.08) and low (517.81). Wall Street stocks got off to a weak start after inflation and jobless claims data blurred the outlook for the next Federal Reserve policy decision. Following last week's bumper payroll report, markets had begun to lower their expectations for another big rate cut from the Fed. But data out on Thursday showed that jobless claims had jumped to their highest since June 2023, reviving hopes that more policy action could be on the cards to ease the strain on the economy. Nevertheless, figures showed that the annual rate of US consumer price inflation slowed to a three-and-a-half-yea Meanwhile, oil prices were once again on the rise as tensions in the Middle East continued to escalate. Brent was up 2.1% at $78.19 a barrel by the close in Europe, after having pulled back sharply over recent days since topping the $80 mark on Monday. “It looks increasingly likely that Israel will go for a large-scale attack on Iran, as reports emerge of Gulf states lobbying the US to rein in its ally," said Chris Beauchamp, chief market analyst at IG. "Oil prices have surged on hints that Israel is seeking to take advantage of the Iranian attack to deliver a major strike on its opponent. The consequences of that could include a closing of the Straits of Hormuz, leading to major disruption to oil supplies.” Back in Europe, data showed that retail sales in Germany rose over the past two months. According to delayed data from the Federal Statistical Office, sales volumes increased by 1.6% during August, following a 1.5% gain in July and a 1.1% decline in June. Destatis released figures for the past three months in one go on Thursday after suspending a number of key economic indicators in May due to a failed IT systems update at the Wiesbaden-based authority. Market movers GSK was among the best performers on the Stoxx 600, rising 3% after the London-listed pharma giant agreed to settle about 93% of US cases in its Zantac lawsuits for up to $2.2bn. The settlement figure was close to the "best case scenario", according to Jefferies, which said the announcement should remove a significant weight on the share price. Deutsche Telekom rose 2% on plans to lift its dividend and buy back shares on the back of better revenue expectations in the next three years. Leading the fallers was UK pharma firm Indivior after delivering its second profit warning this year. Shares were down 19% after Indivior said it was seeing faster initial adoption among treatment providers of a competing long-acting injectable to its Sublocade treatment, as it cut its full-year sales and earnings targets |
Posted at 17/9/2024 09:45 by casholaa It's possibly lost investors too. I'm fed up of it, I feel pretty much repelled by it now. |
Posted at 10/8/2024 05:59 by misca2 Indivior PLC Investor Notice: Robbins LLP Reminds Stockholders of the INDV Class Action LawsuitAugust 09, 2024 at 09:54 pm Robbins LLP reminds investors that a shareholder filed a class action on behalf of all persons and entities that purchased or otherwise acquired Indivior PLC (NASDAQ: INDV) securities between February 22, 2024 and July 8, 2024. Indivior is a global pharmaceutical company that develops, manufactures, and markets drugs to treat opioid use disorders (“OUD”) and serious mental illnesses. For more information, submit a form, email attorney Aaron Dumas, Jr., or give us a call at (800) 350-6003. The Allegations: Robbins LLP is Investigating Allegations that Invidior PLC (INDV) Misled Investors Regarding the Financial Prospects of its Products According to the complaint, during the class period, defendants: (i) grossly overstated their ability to forecast the negative impact of certain legislation on the financial prospects of Indivior products, which forecasting ability was far less capable and effective than Defendants had led investors and analysts to believe; (ii) overstated the financial prospects of SUBLOCADE, PERSERIS and OPVEE, and thus overstated the Company’s anticipated revenue and other financial metrics; (iii) knew or recklessly disregarded that because of the negative impact of certain legislation on the financial prospects of Indivior’s products, Indivior was unlikely to meet its own previously issued and repeatedly reaffirmed FY2024 net revenue guidance, including FY2024 net revenue guidance for SUBLOCADE, PERSERIS and OPVEE; and (iv) knew or recklessly disregarded that Indivior was at a significant risk of, and/or was likely to, cease all sales and marketing activities related to PERSERIS. On July 9, 2024, Indivior issued a press release "announc[ing] a business update encompassing [its] outlook for [second quarter (‘Q2’)] and FY2024 financial performance." The July 9 Update reduced FY 2024 (i) total net revenue guidance to $1.15-$1.215 billion from the previous ranges of $1.24-$1.33 billion; (ii) SUBLOCADE net revenue guidance to $765-$805 million from the previous range of $820-$880 million; and (iii) OPVEE net revenue guidance to $9-14 million from the previous range of $15-25 million. The July 9 Update also shockingly advised that the Company would immediately cease all sales and marketing activities related to PERSERIS. On this news, Indivior's stock price fell $5.15 per share, or 33.57%, to close at $10.19 per share. What Now: You may be eligible to participate in the class action against Invidior PLC. Shareholders who want to serve as lead plaintiff for the class must file their papers with the court by October 1, 2024. A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. You do not have to participate in the case to be eligible for a recovery. If you choose to take no action, you can remain an absent class member. For more information, click here. All representation is on a contingency fee basis. Shareholders pay no fees or expenses. About Robbins LLP: Some law firms issuing releases about this matter do not actually litigate securities class actions; Robbins LLP does. A recognized leader in shareholder rights litigation, the attorneys and staff of Robbins LLP have been dedicated to helping shareholders recover losses, improve corporate governance structures, and hold company executives accountable for their wrongdoing since 2002. Since our inception, we have obtained over $1 billion for shareholders. To be notified if a class action against Invidior PLC settles or to receive free alerts when corporate executives engage in wrongdoing, sign up for Stock Watch today. Attorney Advertising. Past results do not guarantee a similar outcome. View source version on businesswire.com: |
Posted at 17/7/2024 07:01 by casholaa "Q2 and H1 2024 results on July 25th at 7:00 a.m. London time (2:00 a.m. U.S. Eastern). The results will be available via the London Stock Exchange's Regulatory News Service (RNS) and on the "Investors" section of the company's website" |
Posted at 15/7/2024 09:04 by gregmorg I too thought there must be some dodgy dealings but a look at the presentation of 4th June to US investors has made me think otherwise . Within that presentation it stood out that there were no text slides on Perseris or comment . Lots of slides and comment on Sublocade and Opvee,(the new instant hit product) but nothing on the other revenue generator.The odd historic data slide and that’s it. Strange! The absence was really glaring and would have caused good analysts to dig a lot deeper as the company was no doubt analysing and struggling with a corporate decision.Avoiding the issue has to raise alarm bells! I admit I completely missed the omission at the time. Not happy at all at the sequence of events but looking back , damn it, I can see pointers |
Posted at 09/7/2024 10:55 by grupo Indivior cuts jobs and discontinues sales of schizophrenia medicationBy This Is Money DAILY MAIL Updated: 11:38 BST, 9 July 2024 Indivior shares nosedived on Tuesday after the drugmaker slashed its profit guidance and revealed it would discontinue sales of a schizophrenia drug. The group, which switched its primary listing to the US last month but continues to trade on the FTSE 250, told investors it would cut 130 jobs related to the discontinuation of sales of Perseris. Mark Crossley, chief executive, said expectations of higher payer management related to Perseris made production 'no longer financially viable' and so it would be discontinued. Indivior will continue to supply Perseris to avoid patient care disruption for the foreseeable future, but said it will no longer deploy a dedicated sales force. Indivior shares were down 38.7 per cent to 723.5p in early trading in London on Tuesday, having lost around 50 per cent over the last year. The firm also told shareholders that net revenue for its opioid disorder drug Sublocade continues to be weak, due primarily to the elimination of Covid-19 emergency measures related to automatic Medicaid coverage renewals in the US. Crossley said: 'As we look to the second half of the year, the US government has extended renewal allowances for certain States which will further delay the annualisation of this significant headwind. 'We are therefore reducing our FY 2024 guidance to reflect these impacts.' But Crossley added that Indivior remains 'firm in our conviction that Sublocade's unique profile to address high-powered synthetic opioids', such as fentanyl, provides the group with 'a tremendous opportunity to meet the growing and changing needs of patients'. He said: 'As a result, we continue to be confident that Sublocade will achieve a net revenue run rate of $1billion as we exit 2025 and ultimately meet our target of greater than $1.5billion in peak annual net revenue, underpinning the successful delivery of our medium-term profitable growth ambitions.' |
Posted at 23/4/2024 09:03 by gregmorg Purely speculation on my part but I do wonder whether the change in listing status ,resulting in a lesser UK market status is causing a near term outflow of UK investors. What it does for Indivior's UK indices standing I just don't know. Maybe it also takes time for the US Nasdaq main listing investor base to develop let alone build up a US indices momentum .Hence little current forward optimism.Anything else well ,we will soon find out! The early half US Nasdaq additional listing has, of course, been a complete dud-- well, for the majority of investors anyway! At times I wonder what quality of capital markets advisers these chaps have-let alone in house stock market awareness! |
Posted at 05/12/2023 16:08 by waldron Indivior PLC INDV Prevails in Striking Claims in UK Litigation (7595V)05/12/2023 2:06pm UK Regulatory (RNS & others) Tuesday 5 December 2023 TIDMINDV RNS Number : 7595V Indivior Prevails in Striking Representative Claims from UK Shareholder Action Richmond, VA and Slough UK, December 5, 2023 - Indivior PLC (LSE/NASDAQ: INDV) , a leading addiction treatment company, announced that the High Court of Justice of England and Wales has issued a judgment striking out representative claims by Wirral Council as administering authority of Merseyside Pension fund ("Wirral") against Indivior under the Financial Services and Markets Act 2000 ("FSMA"). Wirral's suit was the first attempt by claimants to use representative proceedings for securities claims brought under Sections 90, 90A, and Schedule 10 of the FSMA. The proposed representative proceedings, if allowed, would permit a representative acting on behalf of unnamed claimants to attempt to prove a violation of law without proof of damages, in contrast to ordinary multi-party proceedings, which require proof of liability and damages for each claimant. In September 2022, Wirral had filed a representative claim generally asserting that Indivior violated the FSMA by making misleading or dishonest statements regarding an alleged fraudulent scheme to switch the market for its SUBOXONE (R) branded products in published information relating to securities. A similar claim was filed against Reckitt Benckiser. After hearing two days of argument in November 2023, the High Court on December 5 issued a judgment granting Indivior's and Reckitt Benckiser's applications to strike out the representative proceedings. The Court specifically found that it "would be unfair and unjust, and contrary to the overriding objective, to allow the Representative Proceedings to oust the jurisdiction of the Court to case manage the claims from the start." The Court's judgment may be found here . Wirral and other claimants separately had filed a multi-party action generally alleging the same claims, and levied similar allegations against Reckitt Benckiser Group PLC ("Reckitt Benckiser") in separate actions. Pursuant to the Court's judgment, the claim against Indivior may only proceed in those multi-party proceedings brought by the claimants named in those proceedings. Wirral may seek permission to appeal the Court's judgment. About Indivior Indivior is a global pharmaceutical company working to help change patients' lives by developing medicines to treat addiction and serious mental illnesses. Our vision is that all patients around the world will have access to evidence-based treatment for the chronic conditions and co-occurring disorders of substance use disorder (SUD). Indivior is dedicated to transforming SUD from a global human crisis to a recognized and treated chronic disease. Building on its global portfolio of OUD treatments, Indivior has a pipeline of product candidates designed to both expand on its heritage in this category and potentially address other chronic conditions and co-occurring disorders of SUD, including alcohol use disorder and cannabis use disorder. Headquartered in the United States in Richmond, VA, Indivior employs more than 1,000 individuals globally and its portfolio of products is available in 37 countries worldwide. Visit www.indivior.com to learn more. Connect with Indivior on LinkedIn by visiting www.linkedin.com/com This release is being made by Kathryn Hudson, Company Secretary Indivior PLC. Media Contacts : US Media : Cassie France-Kelly Vice President, Communications Indivior PLC Tel: 804-724-0327 UK Media : Teneo Tel: +44 207-353-4200 Investors and Analysts : Jason Thompson Vice President, Investor Relations Indivior PLC Tel: 804-402-7123 Tim Owens Director, Investor Relations Indivior PLC Tel: 804-263-3978 -ends- (END) Dow Jones Newswires December 05, 2023 09:06 ET (14:06 GMT) |
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