Indivior Lifts 2025 Outlook as SUBLOCADE Revenue Surges and Restructuring Unlocks Margin Growth
Guidance Raised After Double-Digit Growth in Key SUBLOCADE Franchise
Indivior PLC is making bold moves in 2025, raising its full-year guidance on the back of accelerating SUBLOCADE revenues and sweeping operational changes. For the third quarter, net revenue climbed to $314 million, with SUBLOCADE posting a striking 15% year-over-year increase to $219 million—now driving 70% of Indivior’s quarterly top line.
This performance is not a one-off: Indivior’s management has upped full-year net revenue expectations to a range of $1,180–$1,220 million, marking a roughly 13% increase from prior guidance. Projected SUBLOCADE revenue was also lifted by over $60 million at the midpoint, reflecting robust demand and ongoing U.S. price stabilization.
| Metric | Q3 2025 | Q3 2024 | Y/Y Change |
|---|---|---|---|
| Total Net Revenue | $314m | $307m | +2% |
| SUBLOCADE Revenue | $219m | $191m | +15% |
| U.S. SUBLOCADE Revenue | $203m | $177m | +14% |
| Non-GAAP Gross Margin | 84% | 82% | +2 pts |
| Adjusted EBITDA | $120m | $105m | +14% |
| Non-GAAP Diluted EPS | $0.72 | $0.49 | +47% |
Profitability Accelerates on Simplification and Cost Actions
Beyond topline gains, Indivior’s margins are showing tangible improvement thanks to a far-reaching business overhaul. By optimizing its Rest of World footprint, discontinuing sales and marketing for lower-margin products (notably OPVEE and PERSERIS), and trimming organizational overhead, the company expects to realize at least $150 million in annual expense savings from 2026.
Adjusted EBITDA surged 14% to $120 million this quarter, outpacing sales growth, while non-GAAP net income jumped to $93 million. Non-GAAP R&D expenses fell by 11% year-on-year, signaling increased focus on core pipeline assets and tighter control on discretionary spending. Indivior’s cash and investments now stand at $473 million, providing ample financial firepower for future strategic initiatives.
Key Drivers: U.S. Market Focus, SUBLOCADE Adoption, and Pricing Power
The heart of Indivior’s momentum lies in SUBLOCADE’s growing dominance within the opioid use disorder (OUD) market, powered by expanded direct-to-consumer campaigns and ongoing pricing stability in the broader U.S. buprenorphine/naloxone market. The U.S. business contributed $267 million of total Q3 revenue, with SUBLOCADE volumes up 8% in the region.
Looking abroad, ROW revenues grew by 2% to $47 million despite continued generic pressure in legacy franchises. However, with exits from less profitable geographies, the ROW segment is now set to contribute more consistently to group EBITDA going forward.
| 2025 Guidance | Prior Range | Revised Range |
|---|---|---|
| Total Net Revenue | $1,030m–$1,080m | $1,180m–$1,220m |
| SUBLOCADE Revenue | $765m–$785m | $825m–$845m |
| Adjusted EBITDA | $275m–$300m | $400m–$420m |
| Non-GAAP SG&A | $500m–$510m | $510m–$520m |
| Non-GAAP R&D | $85m–$90m | $75m–$80m |
Strategic Outlook: Restructuring to Accelerate Margin Expansion in 2026
Management signaled its next phase of transformation is on schedule. By January 2026, Indivior plans to transition into "Phase II – Accelerate" of its Action Agenda. The focus: unlock further margin expansion, improve cash generation, and complete the redomicile of its parent company to the U.S. Notably, inclusion in the MSCI U.S. Indices and the S&P Total Market Index is expected to raise the company’s visibility with institutional investors.
Key Takeaway: Indivior Enters 2026 With Strong Momentum and Higher Profit Potential
Indivior’s third-quarter results showcase the company’s ability to execute: higher SUBLOCADE revenues, streamlined operations, and rising profitability. The sharp increase in full-year guidance, especially in Adjusted EBITDA, positions the company for continued upward momentum into 2026 and beyond.
Investors may want to keep watch as Indivior moves into the next chapter of its transformation, with ongoing cost efficiencies and SUBLOCADE’s market penetration remaining critical factors to its long-term performance.
Contact Information:
If you have feedback or concerns about the content, please feel free to reach out to us via email at support@marketchameleon.com.
About the Publisher - Marketchameleon.com:
Marketchameleon is a comprehensive financial research and analysis website specializing in stock and options markets. We leverage extensive data, models, and analytics to provide valuable insights into these markets. Our primary goal is to assist traders in identifying potential market developments and assessing potential risks and rewards.
NOTE: Stock and option trading involves risk that may not be suitable for all investors. Examples contained within this report are simulated and may have limitations. Average returns and occurrences are calculated from snapshots of market mid-point prices and were not actually executed, so they do not reflect actual trades, fees, or execution costs. This report is for informational purposes only, and is not intended to be a recommendation to buy or sell any security. Neither Market Chameleon nor any other party makes warranties regarding results from its usage. Past performance does not guarantee future results. Please consult a financial advisor before executing any trades. You can read more about option risks and characteristics at theocc.com.
The information is provided for informational purposes only and should not be construed as investment advice. All stock price information is provided and transmitted as received from independent third-party data sources. The Information should only be used as a starting point for doing additional independent research in order to allow you to form your own opinion regarding investments and trading strategies. The Company does not guarantee the accuracy, completeness or timeliness of the Information.
Disclosure: This article was generated with the assistance of AI