The following is a summary of the Indivior PLC (INDV) Q3 2024 Earnings Call Transcript:
Financial Performance:
Indivior PLC reported a 13% increase in Q3 net revenue to $307 million.
Adjusted operating profit rose by 62% to $97 million.
Gross margin stood at 82%, though this marked a sequential and year-over-year decline due to cost inflation.SUBLOCADE's net revenue for the quarter was $191 million, up 14% from the previous year.
Business Progress:
SUBLOCADE U.S. patients and treatment grew 37% year-over-year to 166,600.
The number of active dispensing HCPs for SUBLOCADE increased by 15% to over 7,700.
Indivior added one new partner, bringing the total number of alternate injection sites to about 1,220.
Indivior is focusing on streamlining actions targeting cost reduction in G&A and reprioritizing the R&D pipeline.
Opportunities:
Established approximately 180 experiential programs for OPVEE and 32 states now have standing orders in place.
Indivior confirmed a 10-year contract with BARDA involving net revenue from two orders within the quarter.
Risks:
SUBLOCADE's growth being impacted by intensified initial trial and adoption of competing products, variability in funding, and further destocking in certain justice system accounts.
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