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UK-listed drugmaker Indivior seeks shareholder nod for US listing
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UK-listed drugmaker Indivior seeks shareholder nod for US listing
Apr 25, 2024 1:49 AM

April 25 (Reuters) - UK-listed drugmaker Indivior ( INDV )

plans to seek shareholder approval next month for a

primary listing in the United States, the company said on

Thursday, which would add it to a growing list of firms leaving

the London stock market.

Indivior ( INDV ) had, in February, announced its intent to shift its

listing by the middle of the year to the U.S., which, it argued,

reflected its growth opportunities as its proprietary treatments

are U.S.-centred and U.S.-based investors account for nearly 50%

of its overall shareholder base.

The list of UK-based companies that have already listed in

the United States includes ARM, the UK's biggest chip

company, as well as building supplies firm CRH and

plumbing equipment company Ferguson.

Indivior ( INDV ) also reaffirmed its annual outlook after logging in

a 12% net revenue growth in the first quarter, boosted by strong

demand for its Sublocade treatment for opioid use disorder.

However, its adjusted operating profit inched down 1% to $70

million in the three months ended March 31.

The company said it expects its top- and bottom-line growth

to accelerate over the rest of 2024, particularly in the second

half.

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