Half Year 2024 Indivior PLC Earnings Call Transcript
Key Points
- SUBLOCADE delivered a year-over-year net revenue growth of 24% in the second quarter.
- The Board has initiated a new $100 million share repurchase program, indicating confidence in long-term objectives.
- Increased commercial investments have led to significant increases in customer engagement and activation.
- SUBLOCADE patients in treatment grew 49% year-over-year to 160,400 by the end of the second quarter.
- The company completed its US primary listing, which is expected to increase awareness among the US investment community.
- A $75 million provision has been taken for an expected settlement for opioid litigation, impacting financials.
- The cessation of PERSERIS sales and marketing resulted in a charge of approximately $65 million.
- SUBLOCADE growth was impacted by transitory headwinds, including Medicaid disenrollment and lower stocking levels.
- Net revenue guidance for OPVEE was recalibrated to $9 million to $14 million due to a slower than anticipated ramp.
- The rest of the world business was down 10%, impacted by shipment timing and elevated stocking in the comparable period last year.
Good morning, 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 the factors that may cause our results to be materially different on slide 2 of this presentation. We also may refer to non-GAAP measures. The reconciliations for which may also be found in the appendix to the presentation that is now posted on our website at indivior.com.
I'll now turn the call over to Mark Crossley, our CEO.
Thank you, Jason, and good morning and good afternoon, everyone. Thanks for joining us. Joining me today are Dr. Christian Heidbreder, our Chief Scientific Officer; Jeff Burris, our Chief Legal Officer; and Ryan Preblick, our Chief Financial Officer. I'll quickly highlight our results and some updates from our release earlier in the month, and then Ryan will detail the
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