Indivior PLC Reports Q3 2025 Financial Results with 2% Revenue Increase

Indivior PLC reported its financial results for the third quarter of 2025, revealing a net revenue of $314 million, a 2% increase from $307 million in the same period of 2024. For the nine months ending September 30, 2025, the company recorded a slight decline in revenue to $881 million from $889 million year-over-year. The increase in quarterly revenue was primarily driven by a 14% rise in sales of its flagship product, SUBLOCADE, which generated $203 million in the third quarter, compared to $177 million in the prior year. However, the overall revenue decline for the nine-month period was attributed to decreased sales from other products, particularly SUBOXONE Film and PERSERIS, which faced increased competition and a strategic decision to discontinue marketing support.

The company's gross profit for the third quarter was $230 million, down from $241 million a year earlier, resulting in a gross margin of 73%, compared to 79% in the same quarter of 2024. Operating expenses increased to $187 million from $206 million, largely due to a rise in selling, general, and administrative expenses, which included $22 million related to corporate transition initiatives. Indivior reported a net income of $42 million for the third quarter, significantly higher than the $22 million recorded in the same period last year. For the nine months, net income reached $108 million, a recovery from a loss of $14 million in 2024.

Strategically, Indivior has made significant organizational changes, including the discontinuation of sales and marketing support for OPVEE, which resulted in $37 million in associated costs. The company also announced plans to optimize its Rest of World (ROW) business by exiting several non-U.S. markets, including the U.K. and Italy, while maintaining operations in Canada, Australia, and France. This optimization is expected to incur charges between $30 million and $50 million, primarily related to headcount reductions and asset impairments.

Operationally, Indivior's U.S. market share for SUBOXONE Film was reported at 14.0% for the third quarter, reflecting a slight decline from 15.3% in the previous year. The company’s total cash and cash equivalents increased to $445 million as of September 30, 2025, up from $319 million at the end of 2024. Indivior's total liabilities exceeded its total assets by $207 million, indicating ongoing challenges with working capital management, particularly due to the timing of rebate payments.

Looking ahead, Indivior remains focused on its core mission of providing treatments for opioid use disorder and anticipates continued growth from SUBLOCADE and other new products. The company is also evaluating potential investment opportunities in commercial-stage assets while managing its operational costs and restructuring initiatives. Indivior's management has expressed confidence in its ability to meet cash needs for the upcoming year, contingent on maintaining sales volume and effective management of rebate payments.