(Reuters) - Teva Pharmaceuticals has agreed to hold off launching its knock-off version of Indivior Plc’s blockbuster opioid addiction drug until the resolution of a U.S. Court case on another generic rival, Indivior said on Wednesday.
The pair’s Indian rival Dr.Reddy’s Laboratories is currently locked in a legal battle in the United States to re-launch a cheaper version of the UK drugmaker’s Suboxone Film.
Indivior also reiterated on Wednesday its full-year net revenues guidance of $25 million to $50 million from its new opioid addiction drug Sublocade, on which the company has pinned its hopes after the legal battles.
However, sales of the once-a-month injectable drug launched in February missed its half-yearly target in July, with the company blaming Sublocade’s distribution and reimbursement model, which made doctors less willing to prescribe the drug.
Sublocade injections are delivered direct to doctors for administration, rather than distributed through pharmacies to be sold based on prescription.
“Experience and satisfaction with SUBLOCADE continues to be positive based on anecdotal reports from both patients and physicians,” Chief Executive Officer Shaun Thaxter said on Wednesday.
Indivior said Sublocade sales would be heavily weighted to the fourth quarter, and that it was confident in achieving its annual peak net revenue goal $1 billion or above.
Indivior shares were little changed in light morning trading, while Teva’s U.S. listed shares had not traded premarket.
Reporting by Arathy S Nair in Bengaluru; editing by Patrick Graham