(Reuters) - Indivior Plc has secured another hold on the launch of a generic competitor to its best-selling opioid addiction drug in the United States, the London-listed company said on Wednesday.
A ruling by a U.S. appeals court last month that allowed Indian firm Dr. Reddy’s Laboratories to sell its copy of the drug, Suboxone Film, sent Indivior shares crashing more than 40 percent.
A preliminary injunction in a U.S. court against Dr. Reddy’s will remain in place, Indivior said on Wednesday.
Suboxone Film is responsible for 80 percent of Indivior’s revenue and its market share has been falling — from 57 percent in 2017 to 50 percent more recently — after Dr. Reddy’s launched a cut-price version which Indivior says infringes its patents.
The cheaper drug will likely reduce Indivior’s full-year 2018 net revenue by between $12 million and $18 million, it said last month.
Suboxone Film, which is dissolved under the tongue, helps drug users beat their addiction to opioids, and the fight for its sale in the United States comes as the country battles a growing crisis of opioid abuse and addiction.
Indivior welcomed the new court ruling and said it would continue to pursue its infringement cases against Dr. Reddy’s to protect its Suboxone Film patent portfolio.
Representatives for Dr. Reddy’s did not immediately respond to phone calls and an email seeking comment.
Meanwhile, shares of Dr. Reddy’s fell 6 percent on India’s National Stock Exchange. Indivior shares rose 12 percent in London before trimming gains to 2 percent.
Indivior, which was spun off from consumer products group Reckitt Benckiser in 2014, is set to discuss its strategy and contingency plans in a conference call on Dec. 18.
(This version of the story corrects typographical error in paragraph 8)
Reporting by Arathy S Nair in Bengaluru; Editing by Sai Sachin Ravikumar