Indivior shares soar 22% on strong sales and potential US move

Shares in Indivior (LSE: INDV) surged 22.4% today, closing at 1,660.00 pence, after the company reported strong sales growth driven by its flagship Sublocade treatment and announced plans to explore a potential move of its primary listing to the United States.

Indivior’s revenue reached $1.09 billion in 2023, a 21% increase from the previous year, with Sublocade sales accounting for the majority of the growth. The company also reported a swing to a nominal pre-tax profit of $1 million from a loss of $95 million in 2022.

Indivior is forecasting double-digit net revenue growth and expects Sublocade sales to reach $820 million-$880 million in 2024, a 35% increase at the mid-point. The company is also predicting a 32% rise in adjusted operating profit to $330 million-$380 million.

In addition to the positive financial outlook, Indivior announced that it is initiating consultations with shareholders to explore transitioning its primary listing to the US this year. The company would maintain a secondary listing in the UK.

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This potential move comes amid a trend of high-profile companies shifting their primary listings from London to other markets. Indivior’s decision is likely motivated by the larger size and liquidity of the US stock market, as well as the potential for higher valuations.

The news of strong sales, positive outlook, and potential US listing was met with enthusiasm by investors, sending Indivior shares sharply higher today. The company’s future performance and the outcome of its listing discussions will be closely watched in the coming months.