StockMarketWire.com - Indivior pre-tax profit fell in the first quarter of the year as its Suboxone Film treatment lost market share amid increased competition from lower priced generic tablet options.

Pre-tax profit fell 5% to $111m in the first quarter from $117m the same period a year ago, while operating profit fell to $116m from $128m.

Net revenue fell 6% to $255m weighed by a 8% plunge in US revenue to $197m as the firm's Suboxone Film treatment average market share fell to 55% in the first quarter from 60% the prior period.

The firm said the launch of Sublocade, an injection for the treatment of schizophrenia (RBP-7000), if approved, would ensure the potential impact of any generic film entry 'will become progressively less relevant' to its long-term prospects.

'It's still early days in the Sublocade launch and, while we have had to manage some expected logistical complexities, we have been very encouraged by initial patient and physician enthusiasm, as well as by the pace of payor coverage,' said CEO Shaun Thaxter.

The firm maintained its full year 2018 guidance: Net revenue was expected in the range of $1,130m to $1,170m and net income of $290m to $320m.

At 8:48am: [LON:INDV] Indivior Plc share price was -5.1p at 455.9p



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