UK’s Indivior to cut jobs, lowers profit forecast

(Reuters) -Indivior Plc lowered its profit forecast for the year on Tuesday while announcing it would discontinue sales of its schizophrenia drug Perseris and cut about 130 jobs. Its London-listed shares were seen falling about 10%, according to pre-market indications from traders. The company lowered its adjusted operating profit forecast to between £285 million to £320 million from £330 million to £380 million.

CEO Mark Crossley said in a statement that anticipated higher payer management related to Perseris made production "no longer financially viable" and so it would be discontinued. ADVERTISEMENT The drugmaker moved its primary listing to the United States last month.

Its proprietary treatments are U.S.-centred and U.S.-based investors account for nearly 50% of its shareholder base.

The company also flagged that net revenue for its drug SUBLOCADE, used to treat opioid-related disorders, has continued to be impacted more than expected primarily due to the elimination of COVID-19 emergency measures related to automatic Medicaid coverage renewals.

(Reporting by Radhika Anilkumar in Bengaluru; editing by Sonia Cheema, Sohini Goswami and Jason Neely)