Indivior shares jump after an FDA panel approves its opioid addiction drug

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Indivior hopes to help battle the US opioid epidemic (Source: Getty)

Shares in drugmaker Indivior jumped today after the company announced a US Food and Drug Administration (FDA) advisory panel had given the green light to its opioid addiction treatment.

The London-listed company's shares rose as much as 11 per cent, leading the FTSE 250's best performers in the day. At the time of writing, shares were up 8.29 per cent to 402.4p.

The advisory committee voted 18 to one to approve the once-monthly injectable treatment.

Read more: Indivior's shares plunge as generics threaten to wipe out US market share

The FDA will consider the non-binding recommendation in its review of the experimental new drug, called RBP-6000. A decision is expected to be made by 30 November.

"We are committed to pioneering new options for patients living with this chronic, yet treatable disease to help address the nation's growing opioid epidemic," said Shaun Thaxter, the boss of Indivior.

Based on 2016 data, a US report found 11.8m Americans misused opioids in the past year while around 2m American adults met criteria for opioid use disorder. In 2015, 33,000 people in the US died as a result of an opioid abuse epidemic.

US President Donald Trump earlier this year declared the opioid crisis a public health emergency.

In September, Indivior's shares tumbled nearly 40 per cent in one day after it said a new generic version of one of its drugs could wipe out its market share in the US.

Tags: Indivior