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Pharmaceutical company Indivior raised its annual guidance on revenue and profit following better-than-expected business performance through the first half of 2021.
For fiscal 2021, revenue and adjusted pre-tax income were now expected to be 'significantly' above the group's original guidance, the company said.
Net revenue was expected in a range of $705 million to $740 million, up from previous guidance of up to $625 million, reflecting stronger Sublocade performance, a continued more modest rate of Suboxone firm market share erosion for the remainder of 2021 and benefits from more favorable FX translation of approximately $10 million.
Sublocade FY 2021 revenue was guided in a range of $210 million to $230 million, up from $185 million to $210 million previously, based on 'stronger demand and a large order from a new criminal justice system customer,' the company said.
Adjusted gross margin was expected in the low-80%'s range, modestly above previous expectations, and adjusted operating expense in the range of $470 million to $480 million, up from $420 million to $440 million previously.
Indivior will report Q2 and H1 2021 results on July 29th.