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Indivior withdraws 2020 forecast on coronavirus-led uncertainty

(Reuters) - British drugmaker Indivior PLC withdrew its annual financial forecast on Wednesday, citing uncertainties due to the coronavirus pandemic.

The company said it does not expect to be in a position to provide revised forecast numbers until the duration and extent of the market disruptions caused by the outbreak are known.

The blow from the pandemic, which has severely dented global financial markets, comes at a time when Indivior has already been losing market share for its best-selling opioid addiction treatment Suboxone to cheaper alternatives.

The British drugmaker said on Wednesday it had seen a decline in demand for Sublocade and Perseris injections in recent weeks, largely due to patients being unable to visit their healthcare providers' offices and a resulting shift to remote prescribing.

Indivior had gross cash of about $911 million and net cash of approximately $673 million as of March 31, the company said, adding that it will provide an update on its financial performance and business developments at its first-quarter results announcement on April 30.

(This story corrects paragraph 4 to "decline in demand for Sublocade and Perseris injections" from "decline in demand for Suboxone and other products".)

(Reporting by Aakash Jagadeesh Babu in Bengaluru; editing by Uttaresh.V)

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