Indivior Pharmaceuticals Inc (INDV) Stock

Indivior Pharmaceuticals Inc (INDV) is a Healthcare stock trading at $36.88 (as of 2026-08-21), with a market capitalization of $4.35B and a trailing P/E of 12.7. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

Indivior Pharmaceuticals Inc is a holding company that develops, manufactures, and sells buprenorphine-based prescription medicines for treating opioid dependence, including Suboxone Film, Suboxone Tablet, and Subutex Tablet. It operates across geographic segments such as the United States, Rest of World, and the United Kingdom.

Understand Indivior Pharmaceuticals Inc: how it makes money

Indivior develops, manufactures, and sells buprenorphine-based prescription drugs for opioid dependence, including Sublocade, Suboxone (film and tablet), and Subutex (tablet), and makes money from net sales of these products.

Sublocade-led revenue depends on converting new patients into ongoing treatment, so patient starts and dispensing, plus prescriber and patient uptake of the Sublocade category, drive the profit engine.

Revenue by segment (latest quarter)
Sublocade	$0.2B
Sublingual & other	$0.1B
Services	$0.0B
Opti-V	$0.0B
Preceris	$0.0B
Prolonged release (Sublocade & Subutex)	$0.0B
Bereseris	$0.0B
PSERIS	$0.0B

Business quality (Mixed): Focused opioid-dependence franchise with reported high gross and operating margins, but results appear concentrated in Sublocade and supported by ongoing patient and prescriber adoption metrics.

Valuation: At 20× earnings, INDV trades 17% above the Pharmaceutical Products average (17×). Note: one-time items can distort reported P/E.

Bull case

Sublocade is the main revenue driver: Sublocade net revenue is 0.19B out of total revenue of about 0.3B for the reported period.
Strong US position in long acting injectable category: Sublocade category share in the United States long acting injectables is 76%, and United States market share is 75%.
Pipeline of new starts supports ongoing demand: The company reports New patient starts United States Sublocade of 31,800.

Bear case

Concentration risk around one product: Most other listed net revenue lines are each 0.01B, while Sublocade is 0.19B, so performance changes in Sublocade can have outsized impact.
Not all patients or prescribers adopt accelerated dosing: Accelerated second dose penetration is 9% among new patients and 23% among active healthcare professionals, which suggests limited adoption beyond initial dosing.
US coverage is not complete: Coverage of updated dosing label is 80%, which indicates there is still patient coverage not reflected in updated dosing label coverage.

Valuation — source: SEC EDGAR (first-party)
Price	$36.88
Market Cap	$4.35B
P/E Ratio	12.7
EV / EBITDA	9.4
Price / Sales	3.37
FCF Yield	6.6%
DCF Value (model)	$21.15
DCF Upside vs Price	-42.6%

Profitability & Growth — source: SEC EDGAR
Revenue (TTM)	$1.24B
Net Margin	16.9%
Revenue Growth (YoY)	4.3%
EPS Growth (YoY)	8300.0%
FCF Growth (YoY)	-1428.6%

Financial Health — source: SEC EDGAR
Altman Z-Score	3.34 (safe)
Piotroski F-Score	3/9 (weak)

Valuation vs Sector & Industry
Stock P/E	12.7
Sector P/E (Healthcare)	21.7
Industry P/E (Pharmaceutical Products)	17.2
vs Sector	-41.5%
vs Industry	-25.9%

Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional Holder	BlackRock, Inc. ($565.17M)
Institutional Holders Tracked	10

Company
Sector	Healthcare
Industry	Pharmaceutical Products
CEO	Joseph J. Ciaffoni
Employees	1,030
Country	US
IPO Date	2014-12-29

Related Companies (Pharmaceutical Products; 8 comparable drugmakers)

Data as of 2026-08-21.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.