Indivior
Develops monthly injectable and sublingual medicines for opioid use disorder.
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Profile
Develops and sells opioid-use-disorder treatments, led by monthly injectable SUBLOCADE and supported by sublingual buprenorphine medicines. Revenue is concentrated in the United States, while a pending merger with Supernus would replace the INDV listing after closing.
Develops and commercializes medicines for opioid use disorder, centered on SUBLOCADE, a monthly extended-release buprenorphine injection. SUBOXONE Film and SUBUTEX tablets provide sublingual buprenorphine options, while OPVEE overdose-reversal spray is distributed only on request after sales and marketing support ended.
Operates as one segment, pairing drug development and U.S.-focused commercialization with manufacturing and specialty distribution. The United States supplies most revenue; products also reach Canada, Australia, France, and Germany.
Results depend heavily on SUBLOCADE adoption, insurer and government reimbursement, regulated manufacturing, and competition from branded or generic treatments. An agreed all-stock merger with Supernus remains subject to stockholder and regulatory approvals; the combined company would trade as SUPN after closing.
Company facts
Key statistics
Year to date −2.4% · Average volume (30d) 2.2M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Rating | Prior target | Target |
|---|---|---|---|---|---|
| Aug 5, 2026 | Barclays | Reiterate | Overweight | $46 | $43 |
| Aug 4, 2026 | Craig-Hallum | Reiterate | Buy | $41 | $53 |
| Jun 18, 2026 | Barclays | Target | $46 | ||
| Jan 20, 2026 | Northland Securities | Target | $40 | $50 | |
| Jan 12, 2026 | H.C. Wainwright | Target | $35 | $48 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 3, 2026Q2 FY26 | $0.87 | $1.15 | +32.3% | $306.2M | $343.0M | +12.0% | −6.60% |
| Apr 30, 2026Q1 FY26 | $0.64 | $0.96 | +50.0% | $272.8M | $317.0M | +16.2% | +2.39% |
| Feb 26, 2026Q4 FY25 | $0.65 | $0.82 | +26.2% | $305.6M | $358.0M | +17.1% | −2.94% |
| Oct 30, 2025Q3 FY25 | $0.38 | $0.72 | +89.5% | $306.2M | $314.0M | +2.5% | +0.82% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $266.0M | $302.0M | $314.0M | $358.0M | $317.0M | $343.0M | |
| Gross profit | $222.0M | $250.0M | $252.0M | $294.0M | $277.0M | $294.0M | |
| Operating income | $66.0M | $72.0M | $99.0M | $122.0M | $137.0M | $160.0M | |
| Net income | $47.0M | $18.0M | $42.0M | $102.0M | $89.0M | $122.0M | |
| Diluted EPS | $0.38 | $0.14 | $0.33 | $0.82 | $0.69 | $0.95 | |
| Gross margin | 83.5% | 82.8% | 80.3% | 82.1% | 87.4% | 85.7% | |
| Operating margin | 24.8% | 23.8% | 31.5% | 34.1% | 43.2% | 46.6% |
Fiscal years (4-quarter sums)FY22 $902.0M · FY23 $1.09B · FY24 $1.19B · FY25 $1.24B
Revenue by product · Q2 FY26
Revenue by geography · FY24
Balance sheet, Jun 30, 2026Cash & short-term investments $222.0M · Total debt $509.0M · Total assets $1.23B · Shareholders' equity −$208.0M
Dividends
No dividends on record.
Ownership
A 13F quarter can total more than the shares outstanding — sub-advisers file the same block twice, and a filer's own share count can be a quarter stale. No split is drawn from it.
Shares outstanding 124.77M · Float 112.13M · 89.9% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| BlackRock, Inc. | 18.71M | 15.00% | 13F | Aug 7, 2026 |
| The Goldman Sachs Group, Inc. | 8.09M | 6.50% | 13G | Feb 6, 2025 |
| Vanguard Portfolio Management LLC | 7.57M | 6.07% | 13F | Aug 13, 2026 |
| Deerfield Partners, L.P. | 7.36M | 5.80% | 13G | Nov 15, 2024 |
| Oaktree Capital Management LP | 6.13M | 4.91% | 13F | Aug 14, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 27, 2026 | Woodrow D. Anderson | officer: Chief Accounting Officer | +1,500 | $35.69 |
| Aug 5, 2026 | Woodrow D. Anderson | officer: Chief Accounting Officer | +1,500 | $36.28 |
| Jul 10, 2026 | Christian Heidbreder | officer: Chief Scientific Officer | −18,586 | $41.14 |
| Jun 11, 2026 | Christian Heidbreder | officer: Chief Scientific Officer | −18,586 | $38.06 |
| Jun 8, 2026 | Ryan Preblick | officer: Chief Financial Officer | −36,000 | $37.70 |
Peers
- Alkermes
Monthly injectable OUD alternative through VIVITROL
- Teva (ADR)
Generic buprenorphine and UZEDY pressure legacy franchises
- Dr. Reddy's Laboratories (ADR)
Generic SUBOXONE Film challenger in the U.S.
- Emergent BioSolutions
NARCAN leads the overdose-reversal market against OPVEE
- Johnson & Johnson
INVEGA franchise overlaps de-emphasized PERSERIS
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Indivior | $34.87 | 0.00% | $4.35B | 12.5 | 7.7 | 3.3 | +13.6% |
| Alkermes | $47.25 | −0.34% | $7.95B | 123.8 | — | 4.8 | +27.0% |
| Teva (ADR) | $36.30 | −0.36% | $42.44B | 60.7 | 12.9 | 2.5 | −0.8% |
| Dr. Reddy's Laboratories (ADR) | $12.18 | 0.00% | $10.15B | 29.2 | 32.5 | 3.0 | −16.2% |
| Emergent BioSolutions | $5.82 | −1.61% | $304.9M | — | — | 0.4 | +66.3% |
| Johnson & Johnson | $268.40 | +0.13% | $645.95B | 31.1 | 22.4 | 6.6 | +6.6% |
| Median | 45.9 | 22.4 | 3.0 | +6.6% |