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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  Indivior    INDV   GB00BRS65X63

INDIVIOR

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Indivior : Court Denies Emergency Motion to Block Dr. Reddy's Generic Medicine Launch

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02/12/2019 | 03:00am EST

By Carlo Martuscelli

Indivior said Tuesday that a U.S. court has denied it an emergency motion that would have blocked Dr. Reddy's Laboratories Ltd.'s (500124.BY) plans to launch a generic version of the U.K.-listed company's opioid-addiction treatment.

The court ordered that a mandate be issued on Feb. 19 voiding a previous preliminary injunction stopping the Indian pharmaceutical from bringing its generic medicine to market. Indivior said it will file a petition to stay the mandate with the U.S. Supreme Court.

The U.K.-listed pharmaceutical company is in a legal battle to stop rivals from bringing to market generic alternatives of its Suboxone drug-addiction medication. The company alleges that the Indian company Dr. Reddy's, as well as competitor Alvogen, are infringing on its patents.

Indivior had previously been granted a stop-order against Dr. Reddy's barring it from selling its Suboxone generic, but this was overturned in November, sending shares of the company plummeting. Since then it has engaged with the courts to have the decision revoked.

Indivior said that it expects Dr. Reddy's to resume the launch of its U.S. product once the mandate that formally vacates the preliminary injunction is issued on Feb. 19. Given a previous agreement it struck with Alvogen, the U.S. rival will also begin selling its version of Suboxone at the same time.

Indivior had previously said that, based on precedent, this could result in Suboxone losing 80% of its market share in a matter of months.

Write to Carlo Martuscelli at carlo.martuscelli@dowjones.com

Stocks mentioned in the article
ChangeLast1st jan.
DR. REDDY'S LABORATORIES LTD -3.90% 2563.35 End-of-day quote.-2.03%
INDIVIOR 3.93% 117.8 Delayed Quote.0.89%
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Financials ($)
Sales 2019 562 M
EBIT 2019 37,1 M
Net income 2019 32,4 M
Finance 2019 115 M
Yield 2019 -
P/E ratio 2019 -
P/E ratio 2020 13,91
EV / Sales 2019 1,69x
EV / Sales 2020 1,56x
Capitalization 1 065 M
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Mean consensus OUTPERFORM
Number of Analysts 7
Average target price 2,76 $
Spread / Average Target 89%
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Managers
NameTitle
Shaun Thaxter Chief Executive Officer & Executive Director
Howard H. Pien Chairman
Mark Crossley Chief Financial Officer & Executive Director
Christian Heidbreder Chief Scientific Officer
Ingo Elfering Chief Information Officer
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