Indivior’s restructuring plan is taking shape with initial headcount reductions to help move toward a more simplified organization.
The first phase of the company’s “Indivior Action Agenda,” which looks to “generate momentum” and lay the groundwork for the rest of the three-pronged plan, is ongoing through the end of 2025. Along with growing its opioid use disorder treatment Sublocade in the U.S. and pinpointing the “actions and investments” necessary to further penetrate the long-acting injectable market, the agenda includes actions to simplify the organization by “eliminating all non-essential activities,” the company explained in a Tuesday SEC filing.
Aug. 26 saw one of the first major initiatives meant to drive the plan forward with headcount reductions that will add up to employee severance and exit charges of about $16 million to $19 million. Indivior didn’t immediately respond to Fierce Pharma’s request for comment on the prevalence of the layoffs.
The organizational changes are said to “strongly position us to advance to Phase 2 of the Indivior Action Agenda, Accelerate, at the start of 2026 and immediately realize bottom-line accretion,” CEO Joe Ciaffoni said in the company’s second-quarter earnings release, when it first unveiled the initiative.
At the end of 2024, the Virginia-based drugmaker tallied a total workforce of 1,094, according to an annual report (PDF). The company’s headcount dipped by 90 staffers from 2023, although it had previously communicated approximately 130 layoffs last July after discontinuing sales of its schizophrenia drug Perseris.
The Perseris decision and associated layoffs were made under the belief that the drug’s future was “no longer financially viable,” allowing it to devote more focus to Sublocade. At the time, Indivior was confident that the opioid use disorder treatment was on track to meet a net annual revenue run rate of $1 billion at the end of 2025.
Now, the company is putting even more of its weight behind Sublocade with the potential to offload its Opvee overdose reversal spray and its non-U.S. business. Indivior is “exploring strategic alternatives” for both units and notes in the filing that it could realize ongoing savings from “divesting and/or restructuring” those assets, if successful. Opvee was acquired in Indivior’s 2023 Opiant buyout for $145 million.
As of its most recent quarterly update, the company has revised its full-year guidance on the back of “better-than-expected net revenue performance” over the first half of the year, CFO Ryan Preblick said. Now, Indivior anticipates $1.03 billion to $1.08 billion in sales, up from the previous projection of $955 million to $1.02 billion.
Sublocade, which is its top-selling product, is expected to bring in between $765 million and $785 million this year. Over the second quarter, the treatment achieved revenue of $209 million, growing 19% from the previous quarter.
Also in phase 1 of the operational road map is exiting and consolidating “certain real estate properties.” The moves this year come out to a total of $39 million to $50 million in restructuring charges.