07:29 AM EDT, 07/09/2024 (MT Newswires) -- Indivior ( INDV ) said Tuesday that it now expects fiscal 2024 net revenue to be in a range of $1.15 billion to $1.22 billion, down from its prior outlook of $1.24 billion to $1.33 billion.

Three analysts polled by Capital IQ are expecting 2024 revenue of $1.24 billion.

Indivior ( INDV ) said it expects Q2 net revenue to be from $295 million to $303 million. Two analysts surveyed by Capital IQ are looking for $301.7 million.

The pharmaceutical company said it plans to discontinue sales and marketing for its antipsychotic injection Perseris as it expects higher payor management in the drug's treatment category.

Additionally, the company said a lawsuit filed by end payors in Health Care Services against Indivior ( INDV ) has reached a settlement of $85 million, terminating a trial scheduled for Monday next week. The settlement will be charged to the company's Q2 results, excluded from adjusted earnings.

Shares of the company were down 38% in recent Tuesday premarket activity.

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