Indivior Confirms Plan to Switch Listing From London to New York

(Bloomberg) -- Indivior Plc has confirmed plans to switch its primary listing to New York this summer, and will ask shareholders to approve the decision next month.

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The British drug-maker, which manufacturers the opioid addiction treatments Suboxone and Sublocade, said shareholders had indicated their support for the move, which would see Indivior maintain a secondary listing in London.

Indivior is one of a string of UK-listed companies that have announced plans to move to New York. Deeper pools of investor funds, more permissive rules and higher levels of executive pay have already tempted companies such as Flutter Entertainment and CRH Plc to look across the Atlantic.

Indivior said that sales of Sublocade in the first quarter had been affected by a cyberattack on the largest US medical claims processor, and the dis-enrollment of Medicaid patients. Net revenue rose 12% to $284 million for the quarter but missed analysts’ estimates according to data compiled by Bloomberg.

Shares in Indivior were down as much as 9.8% in early trading before paring back some losses. They’re still up more than 17% since the beginning of the year.

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