Indivior issues profit warning as generic drugs hit sales

Drugmaker Indivior has warned that sales and profits this year will be much lower than expected after a cheaper copycat version of its best-selling opioid addiction treatment hit the US market, sending shares in the company tumbling by nearly a third.

The pharmaceutical company, which is based in the UK, has been involved in a number of legal battles with generic drugmakers to stop them from flooding the US market with cheaper versions of Suboxone film, Indivior’s medication that  helps addicts beat their addiction to heroine and is dissolved under the tongue.

However, one generic drugmaker, Dr Reddy’s Laboratories, used a window of opportunity between its version of Suboxone being approved and a court imposing a temporary restraining order on sales, to begin selling to patients.

That small sales window has had a big effect on Indivior’s market share, which shrunk by two and half percentage points to 52pc and is likely to wipe $25m (£19m) off full-year sales.

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