Preliminary Q3 2024 Indivior PLC Earnings Call Transcript
Key Points
- Indivior PLC (INDV) continues to see strong interest and intention to treat with SUBLOCADE among criminal justice system (CJS) accounts, indicating long-term growth potential.
- The company expects solid year-over-year growth for SUBLOCADE in fiscal year 2024, with a projected 17% increase at the midpoint.
- SUBLOCADE's unique product profile, including rapid induction and alternate injection sites, is expected to maintain its leadership position in the long-acting injectable category.
- Indivior PLC (INDV) has been granted Priority Review by the FDA for important label updates, which could enhance SUBLOCADE's patient experience and market appeal.
- The company is actively seeking efficiencies to fuel SUBLOCADE's growth and support margins, including increased investment in awareness and sales force expansion.
- Indivior PLC (INDV) is facing increased competitive pressure, with competitors gaining initial adoption among SUBLOCADE prescribers faster than expected.
- The company is experiencing unpredictable volumes and modest pricing pressure in the criminal justice system channel due to funding variability.
- SUBLOCADE's net revenue forecasting accuracy is difficult in the near term due to increased competition and destocking impacts.
- Indivior PLC (INDV) no longer expects to deliver a $1 billion annual net revenue run rate for SUBLOCADE by the end of 2025 due to slower growth expectations.
- The company has issued multiple profit warnings, raising concerns about the stability and predictability of its financial performance.
Morning and afternoon, everyone. Before we begin, I need to remind everyone that on today's call, we may make forward-looking statements that are subject to risks and uncertainties and that actual results may differ materially. We list those factors on page 4 of this morning's announcement that is available on our website at www.indivior.com.
Finally, given where we are in the quarter end close process, we ask that you limit your questions to the matters discussed in today's announcement. We will address third quarter results and broader Q&A at our formal results.
With that, I will turn the call over to Mark Crossley, our CEO.
Thanks, Jason, and good morning and good afternoon, everyone. Thanks for joining us on short notice. Ryan Preblick, our CFO, is also joining us here today. I'm sure by now that you've read the announcement where we
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