Indivior Q1 Revenue Jumps 19%, SUBLOCADE Sales Climb 32%, Raises 2026 Guidance
INDV•Indivior posted Q1 2026 net revenue of $317 million, with SUBLOCADE revenue up 32% to $232 million and adjusted EBITDA soaring 112% to $164 million. The company repurchased $125 million in shares, raised full-year revenue guidance to $1.215–1.285 billion and upped adjusted EBITDA outlook to $620–660 million.
1. Q1 2026 Financial Performance
Total net revenue rose 19% year-over-year to $317 million in Q1 2026, driven by SUBLOCADE net revenue growth of 32% to $232 million. GAAP net income was $89 million, non-GAAP net income reached $123 million and adjusted EBITDA jumped 112% to $164 million.
2. Share Repurchases and Financing
Under its new share repurchase program, Indivior repurchased approximately four million shares for $125 million at an average price of $31.45, leaving $275 million available. The company also completed a $500 million 0.625% convertible senior notes offering, using proceeds to fully repay a $333 million term loan.
3. Raised Full-Year Guidance
Indivior raised its full-year 2026 net revenue guidance to $1.215–1.285 billion, up from $1.125–1.195 billion, and lifted total SUBLOCADE revenue outlook to $950–990 million from $905–945 million. Adjusted EBITDA guidance was increased to $620–660 million, up from $535–575 million.
4. Pipeline and Program Updates
Indivior will not pursue Phase III development of INDV-6001 and has transferred development rights back to Alar Pharmaceuticals while retaining U.S. commercial rights. Development of INDV-2000 will not advance internally, with the company seeking external partners.
