StockMarketWire.com - Pharmaceuticals group Indivior said it was seeking an immediate injunction that would prevent rival Dr. Reddy's from selling a generic version of its opioid addiction therapy Suboxone Film.

On Thursday, the US Federal Drug Administration approved generic versions of the treatment from both Dr. Reddy's and Mylan.

Dr. Reddy's subsequently announced it had launched its generic product in the US.

'Indivior notes that such an 'at-risk' launch by Dr. Reddy's is a result of ongoing patent litigation between the parties,' Invidior said.

'As a consequence, Indivior will pursue all legal remedies available to it, including seeking an immediate injunction.'

Invidior said that although it was not possible to quantify precisely the financial impact of the launch of generic alternatives, they could result in a rapid and material loss of market share for its product in the US.

Such a loss of market share could occur within months of a successful launch by a rival, it added.

Indivior reiterated that it had developed contingency plans, including the potential launch of an authorized generic, as well as cost cutting measures.

It decided to keep its earnings guidance for 2018 unchanged, until details of Dr. Reddy's market entry were confirmed.

'However, the company's guidance was issued on the basis of no material change in market conditions. In the event of market entry by Dr. Reddy's, the company will revisit its guidance in light of the changed market circumstances.'

Chief executive Shaun Thaxter said Indivior was surprised by Dr. Reddy's decision to launch, 'given the ongoing litigation and associated significant risk to them of substantial economic damages if, as we believe, we eventually prevail in protecting the Suboxone Film patent estate.'

'In the meantime, we will continue to pursue all legal avenues, including an immediate injunction until the legal status of our intellectual property is confirmed by the courts.'

At 2:17pm: [LON:INDV] Indivior Plc share price was -102.75p at 391.75p



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