Indivior Plc (INDV.L), a specialty pharma company, Thursday reported a pre-tax loss for the third-quarter, amidst exceptional costs and other adjustments. However, the company recorded a rise in net revenue.
In addition, the drug maker reaffirmed its annual guidance. For the three-month period to September 30, the company posted a pre-tax loss of $181 million, compared with a profit of $54 million, recorded for the same period previous year.
After tax, loss stood at $135 million or $0.98 per share as against last year's profit of $41 million or $0.28 per share.
Excluding items, profit improved to $49 million or $0.34 per share from $43 million or $0.29 per share in 2022.
Operating loss was at $183 million, compared with profit of $56 million a year ago. This is mainly due to exceptional costs and other adjustments of $243 million related to the increase in provisions linked to the Antitrust MDL and an intellectual property-related matter.
Excluding items, operating profit stood at $60 million as against previous year's $58 million.
Selling, general, and administrative expenses surged to $390 million from last year's $115 million.
Net revenue was $271 million, up from last year's $232 million.
Looking ahead, for the full year, Indivior still expects to post net revenue of $1.030 billion to $1.090 billion, reflecting a growth of 18 percent at the mid-point of the last year's revenue.
Indivior continues to project its adjusted operating income to move up from last year's $212 million.
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