StockMarketWire.com - Drug company Indivior upgraded its full-year profit outlook as sales of its opioid addiction treatment fared better than expected despite competition from generics.

Full-year revenue was now expected to be in the range of $750m to $790m, up from a range of $670m to $720m previously indicated.

Net income was seen in the range of $160m to $190m, up from previous guidance of $80m to $130m.

The primary driver of the upgraded was the expected continued market share performance through 2019 of opioid addiction treatment, Suboxone Film.

Indivior also narrowed its full-year net revenue guidance range for Sublocade injection to $60m to $70m, from a range of $50m to $70m previously.

The revised revenue guidance also included an expected hit from a recent law, which came into effect on 1 October, and included changes to how the average manufacturer price for branded drugs was calculated.

'In order to mitigate the impact from the legislation in 2020 and beyond, Indivior has given notice to Sandoz Inc. of its intention to cease production of its authorized generic buprenorphine/naloxone sublingual film,' the company said. Cash at the third of 2019 was expected to be approximately $1.02bn.

At 8:02am: [LON:INDV] Indivior Plc share price was +8.61p at 58p

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