We are investigating whether Indivior PLC (Nasdaq: INDV) (“Indivior”) has violated the federal securities laws after the company announced, among other developments, lower than expected SUBLOCADE net revenue in Q2 based on continued adverse market dynamics impacting near-term SUBLOCADE net revenue growth.
Upon this surprise news, Indivior shares have so far fallen over 35% in trading on July 9, 2024.
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Why is there an investigation?
On July 9, 2024, Indivior announced a conference call on short notice for 8:00 A.M. Eastern time. The purpose of the call was to, among other things, announce lower than expected SUBLOCADE net revenue in Q2 based on continued adverse market dynamics impacting near-term SUBLOCADE net revenue growth, including ongoing Medicaid disenrollments, lower-than-expected channel inventory levels of SUBLOCADE, and longer-than-expected activation times with new criminal justice system accounts.
During the question-and-answer session on the call, an analyst expressed surprise at the announcement, noting that management was very aggressive at the start of the year on the outlook for SUBLOCADE despite the fact that there were dynamics in the market that resulted in a changing environment.
Upon this surprise news, Indivior shares have so far fallen over 35% in trading on July 9, 2024.