Indivior’s revenue rose 13 per cent to $307m (£237m) in the third quarter, driven by strong demand for its opioid treatment drug Sublocade.
The results, published this morning, showed that the revenue increase was backed by a 24 per cent year-on year rise in the drug’s sales, bringing in $191m (£147) during the quarter.
Chief executive Mark Crossley said: “We remain firm in our belief that Sublocade has a differentiated and optimal profile for opioid use disorder patients, particularly with the ongoing proliferation of potent synethic opioids.”
Adjusted operating profit at the London-listed pharmaceutical giant also jumped 62 per cent to $97m (£75m) during the period.
The firm’s share price shot up over 10 per cent this morning following the update.
The news comes as Indivior looks to streamline its operations and focus on its core assets, such as Sublocade, in a bid to offset the pressures of costs inflation and increased competition in the opioid treatment market.
The company said that it hopes to trim its operating expenses by $10m to $20m (£8m – £16m) in the following months.
In July, Indivior warned that sales and profit for the year would be lower than expected.