July 11, 2019 / 7:00 AM / 8 months ago

Indivior lifts FY profit view on slower erosion of Suboxone market share

(Reuters) - Drugmaker Indivior Plc on Thursday raised its profit and revenue guidance for the full year as its blockbuster opioid drug Suboxone lost market share at a lower pace than expected, bolstering its first-half performance.

The company, spun off from Reckitt Benckiser in 2014, expects net income for 2019 in the range of $80 million to $130 million, up from a prior expectation of between a loss of $40 million and $10 million.

It also said its generic version of branded Suboxone was performing well.

Separately, Reckitt said it would pay up to $1.4 billion to resolve all U.S. federal investigations related to Indivior.

Reporting by Pushkala Aripaka in Bengaluru; Editing by Arun Koyyur

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