Indivior slashes Sublocade guidance on payer friction

Indivior plc (LSE:INDV) fell 42.40p (16%) to 215p Wednesday when it sharply lowered its 2018 revenue guidance for Sublocade buprenorphine, saying it “substantially underestimated” how long it would take for payers to approve individual patients for coverage. The company now expects the medication-assisted treatment for opioid use disorder to deliver $8-$10 million in 2018 revenues, down from its previous $25-$50 million projection.

The company cited “inefficiencies associated with the prior authorization process” across payers. This month, Indivior said that as of July, it took an average of 21-29 days from time of prescription for patients to receive Sublocade. In March, that dispensing timeline was 43-62 days...