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Moody's affirms Indivior's ratings amid Suboxone pressure

Moody's affirmed Indivior PLC's B3 corporate family rating, citing the company's low financial leverage and leadership in the market of opioid dependence treatments.

The outlook on the rating is stable.

The stable outlook also reflects Moody's expectation that Indivior's Sublocade, a U.S. Food and Drug Administration-approved once-monthly injection for opioid use disorder, will be successfully commercialized in early 2018.

Indivior's B3 corporate family rating reflects significant revenue concentration in the company's Suboxone Film, an opioid dependence treatment, Moody's said in a news release.

The product is facing pricing pressure, patent challenges and potential generic competition. U.S. sales of Suboxone Film make up 80% of the company's revenue.

Moody's also said the B3 corporate family rating is constrained by uncertainty about potential cash outflows related to legal matters.