Indivior announced that it would discontinue sales of its schizophrenia drug Perseris and cut about 130 jobs, lowering its profit forecast for the year.
The company’s London-listed shares are expected to fall by about 10 percent, according to pre-market indications.
Indivior adjusted its operating profit forecast to between $285 million and $320 million, down from the previous $330 million to $380 million range.
CEO Mark Crossley cited higher anticipated payer management costs as making Perseris production “no longer financially viable.”
Last month, Indivior moved its primary listing to the US, reflecting its US-focused treatments and investor base, which now accounts for nearly 50 percent of its shareholders.
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The company noted net revenue for its opioid treatment drug SUBLOCADE has been more impacted than expected.
It is due to the end of COVID-19 emergency measures related to automatic Medicaid coverage renewals.
