Shares in Indivior nosedived today after the addiction treatment specialist lost a key court battle over its number one drug Suboxone.
The firm said it would immediately lose market share after a US court refused to delay the release of cheaper generic versions of the opioid addiction treatment by rivals. The stock fell 15p to 98.1p, more than 10%.
It has been in a long-running fight against the launch of rival products by Dr. Reddy’s Laboratories and Teva Pharmaceuticals, arguing that it holds the patents until 2024.
The decision means India’s Dr. Reddy’s can release its version immediately. Indivior has filed an emergency appeal but without a reprieve could face “major disruption”.
Analysts estimate Indivior-branded Suboxone could lose 80% of the market. The US makes up 80% of Indivior’s $1.1 billion (£842 million) group sales, with Suboxone accounting for four fifths of that.
Boss Shaun Thaxter said: “We acknowledge that the company faces major disruption in the immediate future.”
