ABBO News

Oaktree Capital Raises Stake in Indivior nasdaq Indv Amid Profit Warning

Oaktree Capital Raises Stake in Indivior (NASDAQ: INDV) Amid Profit Warning

Investment fund Oaktree Capital Management has raised its stake in Indivior Plc (NASDAQ: INDV) to become its second-largest shareholder, days after the British drugmaker issued a profit warning and signaled a slowdown in sales of its top-selling opioid addiction treatment. 

Oaktree, which specializes in providing rescue funding to struggling firms, disclosed a 6.3% stake in Indivior, a filing showed on Friday.

Oaktree had a 2.5% stake in the drugmaker, according to LSEG data. Investment manager Two Seas Capital is the top shareholder with a nearly 10% ownership.

Indivior, which moved its primary listing to New York last month, has been facing intense competition in the United States for its opioid drug Sublocade from the launch of a rival, Brixadi.

The drugmaker said earlier this week it would discontinue sales of its schizophrenia drug Perseris, resulting in 130 job cuts.

(Source: Reuters)

author avatar
Zabih Ullah
Zabih Ullah is a seasoned finance writer with more than ten years of experience. He is highly skilled at analyzing market trends, decoding economic data, and providing insightful commentary on various financial topics. Driven by his curiosity, Zabih stays updated with the latest developments in the finance industry, ensuring that his readers receive timely and relevant news and analysis.