Indivior's Q2 2025: Navigating Contradictions in SUBLOCADE Growth, CJS Funding, and Market Dynamics

SUBLOCADE market position and growth expectations, Criminal Justice System (CJS) funding and impact on SUBLOCADE, market dynamics and competition, cost reduction and strategic focus are the key contradictions discussed in Indivior's latest 2025Q2 earnings call.



Record SUBLOCADE Revenue and U.S. Market Performance:
- Indivior PLC reported record SUBLOCADE net revenue of $209 million in Q2 2025, up 9% year-over-year.
- This growth was driven by a solid performance in the U.S. market, with U.S. SUBLOCADE net revenue growing by 19% sequentially.

SUBOXONE Film Performance and Pricing Stability:
- U.S. SUBOXONE Film outperformed expectations, with a modestly higher-than-expected market share of 14% in Q2.
- The stability in pricing and market share contributed to the overall revenue performance.

Operational Simplification and Cost Reduction:
- Indivior is implementing the Indivior Action Agenda, a 3-phase operational road map to maximize business potential and create value for shareholders.
- The agenda includes simplifying the organization, reducing nonessential activities, and improving operational execution to drive profitability.

Upwardly Revised Financial Guidance:
- Indivior raised its total net revenue guidance range to $1.030 billion to $1.080 billion, reflecting the strong performance of SUBLOCADE and SUBOXONE Film pricing stability.
- Adjusted EBITDA guidance was increased to $275 million to $300 million, anticipating improved profitability.

Commercial Execution and Market Penetration Strategy:
- Indivior is focused on generating momentum with SUBLOCADE by improving commercial execution and sharpening field force messaging.
- The company aims to balance patient activation across Medicaid and commercial channels, capitalizing on the opportunity with 60% covered lives in the commercial segment.