Indivior raises sales guidance on strong demand for opioid abuse treatment

Pharmaceutical company Indivior has increased its sales guidance for the year following strong demand for its treatments for opioid abuse.

In a statement on Wednesday, Indivior said it would generate revenue of between $705m and $740m this year, up from a previous estimate of up to $625m.

The company pointed to an increase in demand for Sublocade, which is used to treat opioid abuse. Revenue from the drug this year will be between $210m and $230m, up from a previous guidance of $185m-$210m.

The new projection is based on stronger demand for the drug and a large order from a new criminal justice system customer. The company also said that margins would be slightly above previous expectations.

Shares in the company rose by almost 10 per cent in early trading.

Indivior suffered a revolt at its annual meeting last month when 38 per cent of votes cast went against its pay report. Shareholders objected to the company’s decision to maintain bonuses for its former chief executive, Shaun Thaxter, despite him being jailed for his role in the US opioid crisis.