INDV on Nasdaq

Indivior

Specialty pharmaceuticals company

Indivior is an American pharmaceuticals company. Established as a division of Reckitt Benckiser in 1994 and demerged from that company in December 2014, it is focussed on substitution products for opioid addiction. It is listed on the London Stock Exchange and on the NASDAQ Global Select Market.³ Its shares trade on Nasdaq under the symbol INDV.¹ Wikipedia text CC BY-SA 4.0

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Last updated Oct 21, 2026.

Overview

1994Founded¹

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TickerINDV on Nasdaq¹
IndustryPharmaceutical Preparations¹
HeadquartersRichmond¹
Websiteindivior.com
Legal formpublic company¹
Incorporated inDE⁵
Business address10710 Midlothian Turnpike, Suite 125, North Chesterfield, Va 23235⁵
Filer categoryLarge accelerated filer⁵
LEI213800V3NCQTY7IED471⁴
StatusActive⁴
LEI statusIssued and current⁴
Registered address234 BATH ROAD, SL1 4EE Slough, United Kingdom⁴
Registered withCompanies House, 09237894⁴

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Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

80.2%Gross margin⁹

21.1%Operating margin⁹

16.9%Net margin⁹

4.3%Revenue growth, 2025⁹

-$93.0MFree cash flow⁹

Where the money goes

Where each dollar of revenue went, fiscal 2025

Cost of revenueSelling, general and adminProfit

Cost of revenue20¢$246.0M
Selling, general and admin51¢$634.0M
Other costs10¢$120.0M
Income tax2¢$29.0M
Profit17¢$210.0M

Out of $1.2B in revenue.⁹

Financial statements

Revenue¹⁰⁹$1.2B in 2025+38% since 2022

Gross profit¹¹¹⁰⁹$994.0M in 2025+50% since 2021

Operating income¹¹¹²⁹$262.0M in 2025+23% since 2021

Net income¹¹¹²⁹$210.0M in 2025+2% since 2021

Every line of the income statement as filed: the last 3 fiscal years (annual) or 4 quarters (quarterly), latest first.⁹

Period ending	2025-12-31	2024-12-31	2023-12-31
Net revenue	$1.2B	$1.2B	$1.1B
Cost of sales	$246.0M	$231.0M	$174.0M
Gross profit	$994.0M	$957.0M	$919.0M
Selling, general and administrative	$634.0M	$612.0M	$565.0M
Research and development	$97.0M	$107.0M	$116.0M
Acquired in-process research and development	$0	$1.0M	$162.0M
Litigation settlement	$3.0M	$195.0M	$239.0M
Other operating (income) expense, net	-$3.0M	$4.0M	-$9.0M
Operating income (loss)	$262.0M	$38.0M	-$152.0M
Interest income	-$22.0M	-$23.0M	-$43.0M
Interest expense	$45.0M	$41.0M	$35.0M
Income (loss) before income taxes	$239.0M	$20.0M	-$145.0M
Income tax expense (benefit)	$29.0M	$13.0M	-$19.0M
Net income (loss)	$210.0M	$7.0M	-$126.0M
Basic (in dollars per share)	$1.68	$0.05	-$0.92
Diluted (in dollars per share)	$1.64	$0.05	-$0.92
Basic (in shares)	125.0M shares	132.0M shares	137.0M shares
Diluted (in shares)	128.0M shares	133.0M shares	137.0M shares

Period ending	2024-12-31	2024-09-30	2024-06-30	2024-03-31
Selling, general and administrative	$175.0M	$142.0M	$152.0M	$143.0M
Operating income (loss)	$46.0M	$35.0M	-$118.0M	$75.0M
Income (loss) before income taxes	$38.0M	$30.0M	-$121.0M	$73.0M
Income tax expense (benefit)	$17.0M	$8.0M	-$23.0M	$11.0M
Net income (loss)	$21.0M	$22.0M	-$97.0M	$61.0M

Total assets¹¹⁹$1.2B in 2025−34% since 2021

Total liabilities¹¹⁹$1.3B in 2025−20% since 2021

Shareholders’ equity¹¹¹⁰⁹-$98.0M in 2025

Cash¹¹¹⁰⁹$195.0M in 2025−77% since 2020

Long-term debt¹¹¹⁰⁹$290.0M in 2025+21% since 2021

Every line of the balance sheet as filed: the last 5 fiscal years (annual) or 5 quarters (quarterly), latest first.⁹

Period ending	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2014-12-31
Cash and cash equivalents	$195.0M	$319.0M
Short-term investments	$0	$1.0M
Accounts receivable, net of allowances of $4 (2025) and $3 (2024)	$253.0M	$254.0M
Inventories	$153.0M	$167.0M	$126.0M
Prepaid expenses	$34.0M	$31.0M
Current tax receivable	$2.0M	$33.0M
Other current assets	$16.0M	$21.0M
Total current assets	$652.0M	$827.0M	$1.3B
Long-term investments	$28.0M	$27.0M
Property, plant and equipment, net	$144.0M	$100.0M
Operating lease right of use assets, net	$26.0M	$39.0M
Goodwill and other intangible assets, net	$2.0M	$6.0M
Deferred tax assets	$323.0M	$277.0M	$286.0M
Other noncurrent assets	$27.0M	$39.0M	$36.0M
Total assets	$1.2B	$1.3B	$1.8B
Accrued rebates and product returns	$582.0M	$562.0M
Accounts payable and accrued expenses	$250.0M	$216.0M	$195.0M
Accrued litigation settlement expenses, current	$42.0M	$99.0M
Current portion of long-term debt	$29.0M	$18.0M
Operating lease liabilities, current	$10.0M	$10.0M
Income taxes payable	$2.0M	$7.0M
Other current liabilities	$0	$11.0M
Total current liabilities	$914.0M	$924.0M	$1.3B
Long-term debt, less current portion	$290.0M	$315.0M
Accrued litigation settlement expenses, noncurrent	$52.0M	$365.0M
Operating lease liabilities, noncurrent	$22.0M	$32.0M
Other noncurrent liabilities	$21.0M	$18.0M
Total liabilities	$1.3B	$1.7B	$1.9B
Common stock, par value $0.50 per share Issued shares: 125 (2025) and 125 (2024)	$62.0M	$62.0M
Additional paid-in capital	$112.0M	$90.0M
Share repurchase commitment	$0	-$10.0M
Accumulated other comprehensive loss	-$30.0M	-$36.0M
Accumulated deficit	-$243.0M	-$443.0M	-$288.0M		-$1.3B
Total stockholders' deficit	-$98.0M	-$337.0M	-$184.0M	-$15.0M
Total liabilities and stockholders' deficit	$1.2B	$1.3B	$1.8B
Accounts receivable, allowances	$4.0M	$3.0M
Common stock, par value (in dollars per share)	$0.50	$0.50
Common stock, issued shares (in shares)	125.0M shares	125.0M shares	137.0M shares	136.0M shares

Period ending	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2014-12-31
Cash and cash equivalents	$195.0M	$319.0M
Short-term investments	$0	$1.0M
Accounts receivable, net of allowances of $4 (2025) and $3 (2024)	$253.0M	$254.0M
Inventories	$153.0M	$167.0M	$126.0M
Prepaid expenses	$34.0M	$31.0M
Current tax receivable	$2.0M	$33.0M
Other current assets	$16.0M	$21.0M
Total current assets	$652.0M	$827.0M	$1.3B
Long-term investments	$28.0M	$27.0M
Property, plant and equipment, net	$144.0M	$100.0M
Operating lease right of use assets, net	$26.0M	$39.0M
Goodwill and other intangible assets, net	$2.0M	$6.0M
Deferred tax assets	$323.0M	$277.0M	$286.0M
Other noncurrent assets	$27.0M	$39.0M	$36.0M
Total assets	$1.2B	$1.3B	$1.8B
Accrued rebates and product returns	$582.0M	$562.0M
Accounts payable and accrued expenses	$250.0M	$216.0M	$195.0M
Accrued litigation settlement expenses, current	$42.0M	$99.0M
Current portion of long-term debt	$29.0M	$18.0M
Operating lease liabilities, current	$10.0M	$10.0M
Income taxes payable	$2.0M	$7.0M
Other current liabilities	$0	$11.0M
Total current liabilities	$914.0M	$924.0M	$1.3B
Long-term debt, less current portion	$290.0M	$315.0M
Accrued litigation settlement expenses, noncurrent	$52.0M	$365.0M
Operating lease liabilities, noncurrent	$22.0M	$32.0M
Other noncurrent liabilities	$21.0M	$18.0M
Total liabilities	$1.3B	$1.7B	$1.9B
Common stock, par value $0.50 per share Issued shares: 125 (2025) and 125 (2024)	$62.0M	$62.0M
Additional paid-in capital	$112.0M	$90.0M
Share repurchase commitment	$0	-$10.0M
Accumulated other comprehensive loss	-$30.0M	-$36.0M
Accumulated deficit	-$243.0M	-$443.0M	-$288.0M		-$1.3B
Total stockholders' deficit	-$98.0M	-$337.0M	-$184.0M	-$15.0M
Total liabilities and stockholders' deficit	$1.2B	$1.3B	$1.8B
Accounts receivable, allowances	$4.0M	$3.0M
Common stock, par value (in dollars per share)	$0.50	$0.50
Common stock, issued shares (in shares)	125.0M shares	125.0M shares	137.0M shares	136.0M shares

Cash from operations¹¹¹²⁹-$27.0M in 2025

Capital spending¹¹¹⁰⁹$66.0M in 2025+1550% since 2021

Free cash flow¹¹¹²⁹-$93.0M in 2025

Share buybacks¹¹¹⁰⁹$11.0M in 2025−89% since 2021

Every line of the cash flow as filed: the last 3 fiscal years, latest first.⁹

Period ending	2025-12-31	2024-12-31	2023-12-31
Net income (loss)	$210.0M	$7.0M	-$126.0M
Depreciation and amortization	$10.0M	$16.0M	$15.0M
Amortization of right-of-use assets	$10.0M	$12.0M	$0
Stock-based compensation expense	$26.0M	$24.0M	$21.0M
Impairment of tangible and intangible assets	$19.0M	$8.0M	$0
Unrealized loss on equity investments	$0	$9.0M	$0
Deferred income taxes	-$46.0M	$7.0M	-$64.0M
Acquired in-process research and development	$0	$1.0M	$162.0M
Impact from foreign exchange movements	$1.0M	-$2.0M	-$10.0M
Accounts receivable	$3.0M	-$1.0M	-$33.0M
Current inventories	$18.0M	-$43.0M	-$6.0M
Other current and noncurrent assets	$49.0M	$377.0M	-$418.0M
Accrued legal and settlement expenses	-$368.0M	-$387.0M	$50.0M
Other current and noncurrent liabilities	$41.0M	$8.0M	$110.0M
Net cash (used in) provided by operating activities	-$27.0M	$36.0M	-$300.0M
Purchases of property and equipment	-$66.0M	-$29.0M	-$8.0M
Purchases of in-process research and development and intangible assets	-$1.0M	-$2.0M	-$45.0M
Acquisitions, net of cash acquired	$0	$0	-$129.0M
Purchases of investments in debt securities	-$20.0M	-$17.0M	-$45.0M
Sales of equity securities	$1.0M	$0	$0
Sales and maturities of debt securities	$19.0M	$117.0M	$129.0M
Other proceeds from investing activities	$0	$0	$3.0M
Net cash (used in) provided by investing activities	-$66.0M	$69.0M	-$95.0M
Proceeds from the issuance of common stock	$2.0M	$3.0M	$3.0M
Cash paid for repurchases of common stock	-$11.0M	-$173.0M	-$33.0M
Proceeds from debt, net	$0	$332.0M	$0
Repayments of debt	-$17.0M	-$240.0M	-$12.0M
Transaction costs related to debt refinancing	$0	-$2.0M	$0
Settlement of tax on equity awards	-$5.0M	-$22.0M	-$22.0M
Net cash used in financing activities	-$30.0M	-$102.0M	-$64.0M
Net (decrease) increase in cash and cash equivalents	-$124.0M	$3.0M	-$459.0M
Exchange differences	-$1.0M	$0	$1.0M

Compare Indivior with another company

Corporate structure

Indivior sits at the top of its group. 29 entities, 13 countries on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of Indivior

MILLENNIUM MANAGEMENT LLC Filed SCHEDULE 13G on Indivior, latest Sep 30, 2026 (3 filings since Dec 22, 2025)
Oaktree Capital Holdings, LLC Filed SCHEDULE 13D/A on Indivior, latest Aug 13, 2026 (8 filings since Jul 16, 2024)
Madison Avenue Partners, LP Filed SCHEDULE 13G/A on Indivior, latest May 15, 2026 (3 filings since Mar 18, 2025)
FULLER & THALER ASSET MANAGEMENT, INC. Filed SCHEDULE 13G/A on Indivior, latest May 13, 2026 (2 filings since Feb 17, 2026)
VANGUARD PORTFOLIO MANAGEMENT LLC Filed SCHEDULE 13G on Indivior, latest Apr 28, 2026
VANGUARD CAPITAL MANAGEMENT LLC Filed SCHEDULE 13G on Indivior, latest Apr 27, 2026
Goldman Sachs Filed SCHEDULE 13G/A on Indivior, latest Feb 12, 2026 (4 filings since Feb 6, 2025)
BlackRock Filed SCHEDULE 13G/A on Indivior, latest Jan 8, 2026 (4 filings since Feb 2, 2024)
Two Seas Capital LP Filed SCHEDULE 13D/A on Indivior, latest Dec 23, 2025 (14 filings since Oct 2, 2023)
James E. Flynn Filed SCHEDULE 13G/A on Indivior, latest Nov 13, 2025 (4 filings since Nov 15, 2024)
Morgan Stanley Filed SCHEDULE 13G/A on Indivior, latest May 6, 2025 (2 filings since Feb 8, 2024)
SCOPIA CAPITAL MANAGEMENT LP Filed SC 13G/A on Indivior, latest Nov 14, 2024 (2 filings since Feb 14, 2024)

Indivior Slough, United Kingdom
- Indivior Canada Ltd Subsidiary · Canada
- Indivior Deutschland GmbH Subsidiary · Germany
- Indivior España S.L.U. Subsidiary · Spain
- Indivior EU Limited Subsidiary · United Kingdom
- Indivior Europe Limited Subsidiary · Ireland
- Indivior Finance (2014) LLC Subsidiary · Delaware, United States
- Indivior Finance LLC Subsidiary · Delaware, United States
- Indivior France SAS Subsidiary · France
- Indivior Global Holdings Limited Subsidiary · United Kingdom
- Indivior Israel Ltd Subsidiary · Israel
- Indivior Italia S.r.l Subsidiary · Italy
- Indivior Jersey Finance (2021) Limited Subsidiary · Jersey
- Indivior Jersey Finance LLC Subsidiary · Delaware, United States
- Indivior Manufacturing LLC Subsidiary · Delaware, United States
- Indivior Nordics ApS Subsidiary · Denmark
- Indivior Schweiz AG Subsidiary · Switzerland
- Indivior SMTM LLC Subsidiary · Delaware, United States
- Indivior Solutions Inc. Subsidiary · Delaware, United States
- Indivior South Africa (Pty) Ltd Subsidiary · South Africa
- Indivior Treatment Services, Inc. Subsidiary · Delaware, United States
- Indivior UK Finance No1 Limited Subsidiary · United Kingdom
- Indivior UK Finance No2 Limited Subsidiary · United Kingdom
- Indivior UK Finance No3 Limited Subsidiary · United Kingdom
- Indivior UK Limited Subsidiary · United Kingdom
- Indivior US Holdings Inc. Subsidiary · Delaware, United States
- and 3 more

Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What Indivior reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

Item	Latest	A year before	Change
Property and equipment, before depreciation	$251.0M⁹ Dec 31, 2025	$190.0M⁹ Dec 31, 2024	+32.1%
Accumulated depreciation	$107.0M⁹ Dec 31, 2025	$90.0M⁹ Dec 31, 2024	+18.9%
Property and equipment, net	$144.0M⁹ Dec 31, 2025	$100.0M⁹ Dec 31, 2024	+44.0%
Operating-lease assets (leased space)	$26.0M⁹ Dec 31, 2025	$39.0M⁹ Dec 31, 2024	−33.3%

Investments

Item	Latest	A year before	Change
Cash and cash equivalents	$195.0M⁹ Dec 31, 2025	$319.0M⁹ Dec 31, 2024	−38.9%
Marketable securities, current	$0⁹ Dec 31, 2025	$1.0M⁹ Dec 31, 2024	−100.0%
Long-term investments	$28.0M⁹ Dec 31, 2025	$27.0M⁹ Dec 31, 2024	+3.7%

Intangibles and goodwill

Item	Latest	A year before	Change
Goodwill	$2.0M⁹ Dec 31, 2025	$2.0M⁹ Dec 31, 2024	0%
Accumulated amortization	$251.0M⁹ Dec 31, 2025	$246.0M⁹ Dec 31, 2024	+2.0%

Inventory

Item	Latest	A year before	Change
Inventory, total	$153.0M⁹ Dec 31, 2025	$167.0M⁹ Dec 31, 2024	−8.4%
Work in process	$49.0M⁹ Dec 31, 2025	$51.0M⁹ Dec 31, 2024	−3.9%
Finished goods	$75.0M⁹ Dec 31, 2025	$94.0M⁹ Dec 31, 2024	−20.2%

Properties, in its own words

The following table contains information regarding the Company's principal physical properties.

Location · Tenure · Principal use

The rest of Item 2

Richmond, Virginia · Leased · Office space

Hull, England · Owned(1) · Fine Chemical Plant manufacturing facility

Hull, England · Owned(2) · Chapleo Building research and development facility

Raleigh, North Carolina · Owned · Manufacturing and warehousing

Fort Collins, Colorado · Leased(2) · Office space and research facility

Slough, England · Leased(2) · Office space

_____________

(1)The Hull, England property is leased for 150 years and accounted for as owned.

(2)The Company is actively marketing these properties in connection with the optimization of its operations.

Item 2 of the 10-K filed Feb 26, 2026.¹⁵

The story

The company was established as the Buprenorphine division of Reckitt Benckiser in 1994. In December 2014, Reckitt Benckiser spun off its specialty pharmaceuticals business into a separate company named Indivior. By February 2015, the company was capitalised at £2.3 billion (US$3.1 billion) on the London Stock Exchange.

In 2019, Indivior was indicted over claims that it had made false marketing claims about the safety of its drug, Suboxone, and had concocted a scheme to direct patients towards doctors who were likely to prescribe Suboxone. Reckitt Benckiser has settled with the Justice Department to pay $1.4 billion to resolve a U.S. Federal investigation into sales and marketing of opioid addiction treatment.

In July 2020, Indivior Solutions, Indivior Inc., and Indivior PLC agreed to pay $600 million to resolve liability related to false marketing of Suboxone to MassHealth for use by patients with children under the age of six years old. Additionally, Indivior Solutions Inc pleaded guilty to one-count of felony information.

In November 2022, it was announced Indivior had acquired the Santa Monica-headquartered, NASDAQ-listed biopharmaceutical company, Opiant.

In June 2023, the company listed its shares on both the US Nasdaq and UK London Stock Exchange.

In July 2023, Indivior paid $20.4 million to C4X Discovery for the full rights to the orexin-1 receptor antagonist being developed for substance use disorder. Indivior had already made an upfront payment of $10 million in 2018 and pledged milestone payments of up to $284 million. Under the new agreement C4X Discovery waived any rights to further payment.

In May 2024, the company confirmed that it would transfer its primary share listing to the US, with its UK listing becoming secondary.

In February 2025, the company announced the appointment of Joe Ciaffoni as its chief executive, replacing Mark Crossley.

Read the full text

In June 2025, Indivior delisted from the UK's stock exchange but retained its US listing.

From Wikipedia’s article on Indivior, shared under CC BY-SA 4.0.⁶

Leadership

Who has led Indivior, and when. Pick a name to see everywhere that person has worked.

Chief executive

Joseph Ciaffoni2026–now

Chief financial officer

Ryan Preblick2026–now

1995200020052010201520202025

Chief executive officerJoseph Ciaffoni Jan 7, 2026 to now¹⁶
Chief financial officerRyan Preblick Jan 7, 2026 to now¹⁷

Board members and other officers (10)

Chief Scientific OfficerChristian Heidbreder Jan 7, 2026 to now¹⁸
Chief Accounting OfficerWoodrow D. Anderson Jan 7, 2026 to now¹⁹
Board memberBarbara Ryan Jan 7, 2026 to now²⁰
Board memberDavid E. Wheadon Jan 7, 2026 to now²¹
Board memberJoseph Ciaffoni Jan 7, 2026 to now¹⁶
Board memberJuliet Thompson Jan 7, 2026 to now²²
Board memberKeith Humphreys Jan 7, 2026 to now²³
Board memberMark Stejbach Jan 7, 2026 to now²⁴
Board memberStuart A. Kingsley Jan 7, 2026 to now²⁵
General counselJeffrey W. Burris Jan 7, 2026 to now²⁶

Products and brands

buprenorphine

Listed on Wikidata.¹

The company's main products are Sublocade, Subutex and its Naloxone-combined preparation Suboxone, both substitution products for opioid addiction. Other products include remedies for cocaine and opioid analgesic overdose and treatment for alcohol dependence: the company claims this to be the largest pipeline of addiction drugs in the world.

From Wikipedia’s article on Indivior, shared under CC BY-SA 4.0.⁶

Subsidiaries and ownership

Owners

Subsidiaries (Exhibit 21)

Indivior Canada Ltd Canada⁷
Indivior Deutschland GmbH Germany⁷
Indivior EU Limited England and Wales⁷
Indivior España S.L.U. Spain⁷
Indivior Europe Limited Ireland⁷
Indivior Finance (2014) LLC Delaware (US)⁷
Indivior Finance LLC Delaware (US)⁷
Indivior France SAS France⁷
Indivior Global Holdings Limited England and Wales⁷
Indivior Inc. Delaware (US)⁷
Indivior Israel Ltd Israel⁷
Indivior Italia S.r.l Italy⁷
Indivior Jersey Finance (2021) Limited Jersey⁷
Indivior Jersey Finance LLC Delaware (US)⁷
Indivior Limited England and Wales (as of January 26, 2026).⁷
Indivior Manufacturing LLC Delaware (US)⁷
Indivior Nordics ApS Denmark⁷
Indivior Pty Ltd Australia⁷
Indivior SMTM LLC Delaware (US)⁷
Indivior Schweiz AG Switzerland⁷
Indivior Solutions Inc. Delaware (US)⁷
Indivior South Africa (Pty) Ltd South Africa⁷
Indivior Treatment Services, Inc. Delaware (US)⁷
Indivior UK Finance No1 Limited England and Wales⁷

All 31 listed subsidiaries

Indivior UK Finance No2 Limited England and Wales⁷
Indivior UK Finance No3 Limited England and Wales⁷
Indivior UK Limited England and Wales⁷
Indivior US Holdings Inc. Delaware (US)⁷
Indy 1 (UK) Limited England and Wales⁷
Opiant Pharmaceuticals UK Limited England and Wales⁷
RBP Global Holdings Limited England and Wales⁷

From Wikidata.¹ The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.

Former names

INDIVIOR PLCDec 2, 2014 to Jan 8, 2026⁵

Timeline

Oct 15, 20268-K Shareholder vote²⁷
Oct 6, 20268-K Other events²⁸
Sep 17, 20268-K Regulation FD disclosure; Other events²⁹
Sep 15, 20268-K Ended a material agreement³⁰
Aug 3, 20268-K Entered a material agreement; Regulation FD disclosure³¹
Aug 3, 20268-K Results of operations; Regulation FD disclosure³²
Aug 3, 20268-K Regulation FD disclosure³³
May 15, 20268-K Executive or director change; Shareholder vote³⁴
May 4, 20268-K Regulation FD disclosure; Other events³⁵
Apr 30, 20268-K Results of operations; Regulation FD disclosure³⁶
Mar 17, 20268-K Entered a material agreement; Ended a material agreement; New debt or obligation³⁷
Mar 13, 20268-K Other events³⁸
Jan 7, 2026New chief executive Joseph Ciaffoni becomes CEO¹⁶
1994Founded Founded¹

Calendar

Coming up

Oct 29, 2026Reports results for the quarter ending Sep/2026 A year earlier it reported $0.72 a share, on Oct 30, 2025.³⁹

When it reported results

Aug 3, 2026Reported quarterly or annual results³²
Apr 30, 2026Reported quarterly or annual results³⁶
Feb 26, 2026Reported quarterly or annual results⁴⁰
Oct 30, 2025Reported quarterly or annual results⁴¹
Jul 31, 2025Reported quarterly or annual results⁴²
Apr 24, 2025Reported quarterly or annual results⁴³

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

542 filings to the SEC since October 2021: 3 annual reports, 5 quarterly reports, 37 major events, 52 insider forms, 50 large holders, 395 other. The latest 20:

Oct 15, 20268-K EDGAR
Oct 6, 2026425 EDGAR
Oct 6, 20268-K EDGAR
Sep 30, 2026SCHEDULE 13G EDGAR
Sep 17, 2026425 EDGAR
Sep 17, 20268-K EDGAR
Sep 15, 20268-K EDGAR
Sep 11, 2026EFFECT EDGAR
Sep 11, 2026424B3 EDGAR
Sep 9, 2026S-4/A EDGAR
Aug 28, 2026S-4 EDGAR
Aug 27, 20264 EDGAR
Aug 13, 2026SCHEDULE 13D/A EDGAR
Aug 5, 20264 EDGAR
Aug 3, 202610-Q EDGAR
Aug 3, 2026425 EDGAR
Aug 3, 20268-K EDGAR
Aug 3, 2026425 EDGAR
Aug 3, 20268-K EDGAR
Aug 3, 2026425 EDGAR

The 542 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

13 open-market trades by officers, directors and large owners since October 2021: 10 buys and 3 sales. Grants, option exercises and gifts are left out.

Date	Who	Trade	Shares	Price	Value	Filing
Aug 27, 2026	Anderson Woodrow DChief Accounting Officer	Buy	1,500	$35.69	$53.5K	Form 4
Aug 5, 2026	Anderson Woodrow DChief Accounting Officer	Buy	1,500	$36.28	$54.4K	Form 4
Jul 10, 2026	Heidbreder ChristianChief Scientific Officer	Sale	18,586	$41.14	$764.6K	Form 4
Jun 11, 2026	Heidbreder ChristianChief Scientific Officer	Sale	18,586	$38.06	$707.4K	Form 4
Jun 8, 2026	Preblick RyanChief Financial Officer	Sale	36,000	$37.70	$1.4M	Form 4
Mar 13, 2026	Ryan BarbaraDirector	Buy	8	$31.09	$249	Form 4
Mar 9, 2026	Ryan BarbaraDirector	Buy	31	$32.56	$1.0K	Form 4
Mar 6, 2026	Kingsley Stuart ADirector	Buy	940	$31.87	$30.0K	Form 4
Jan 5, 2026	Humphreys KeithDirector	Buy	775	$35.39	$27.4K	Form 4
Jan 5, 2026	Ryan BarbaraDirector	Buy	775	$35.39	$27.4K	Form 4
Jan 5, 2026	Wheadon David E.Director	Buy	1,771	$35.39	$62.7K	Form 4
Jan 5, 2026	Stejbach MarkDirector	Buy	775	$35.39	$27.4K	Form 4
Jan 5, 2026	NINIVAGGI DANIEL ADirector	Buy	775	$35.39	$27.4K	Form 4

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

MILLENNIUM MANAGEMENT LLCSCHEDULE 13G, 3 filings Dec 22, 2025 to Sep 30, 2026⁴⁴
Oaktree Capital Holdings, LLCSCHEDULE 13D/A, 8 filings Jul 16, 2024 to Aug 13, 2026⁴⁵
Madison Avenue Partners, LPSCHEDULE 13G/A, 3 filings Mar 18, 2025 to May 15, 2026⁴⁶
FULLER & THALER ASSET MANAGEMENT, INC.SCHEDULE 13G/A, 2 filings Feb 17, 2026 to May 13, 2026⁴⁷
VANGUARD PORTFOLIO MANAGEMENT LLCSCHEDULE 13G, 1 filing Apr 28, 2026⁴⁸
VANGUARD CAPITAL MANAGEMENT LLCSCHEDULE 13G, 1 filing Apr 27, 2026⁴⁹
Goldman SachsSCHEDULE 13G/A, 4 filings Feb 6, 2025 to Feb 12, 2026⁵⁰
BlackRockSCHEDULE 13G/A, 4 filings Feb 2, 2024 to Jan 8, 2026⁵¹
Two Seas Capital LPSCHEDULE 13D/A, 14 filings Oct 2, 2023 to Dec 23, 2025⁵²
James E. FlynnSCHEDULE 13G/A, 4 filings Nov 15, 2024 to Nov 13, 2025⁵³
Morgan StanleySCHEDULE 13G/A, 2 filings Feb 8, 2024 to May 6, 2025⁵⁴
SCOPIA CAPITAL MANAGEMENT LPSC 13G/A, 2 filings Feb 14, 2024 to Nov 14, 2024⁵⁵
SG Americas Securities, LLCSC 13G/A, 2 filings Apr 9, 2024⁵⁶

Executive pay

What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.

Year	Executive	Salary	Total pay
2025	Joe Ciaffoni	$680.1K	$18.5M⁵⁷
2025	Pat BarryChief	$408.3K	$4.9M⁵⁷
2025	Christian Heidbreder	$652.6K	$4.2M⁵⁷
2025	Richard Simkin	$325.0K	$4.0M⁵⁷
2025	Ryan Preblick	$558.8K	$3.6M⁵⁷
2025	Jeff Burris	$569.0K	$3.5M⁵⁷
2025	Mark Crossley	$902.3K	$3.2M⁵⁷
2024	Former Chief	$871.8K	$3.9M⁵⁷
2024	Chief Scientific	$630.6K	$2.5M⁵⁷
2024	Chief Financial	$539.9K	$2.3M⁵⁷
2024	Chief Legal	$500.9K	$2.0M⁵⁷
2023	Executive Officer	$834.2K	$4.4M⁵⁷
2023	Commercial Officer	$721.2K	$3.6M⁵⁷
2023	Officer	$516.7K	$2.4M⁵⁷

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.

Fund	Shares	Value	Share of the fund	Change
BlackRock, Inc.	18,709,432	$767.6M	0.0%	+167,212
Vanguard Portfolio Management LLC	7,572,287	$310.7M	0.0%	−319,532
Oaktree Capital Management LP	6,127,212	$251.4M	6.7%	−856,890
Vanguard Capital Management LLC	5,495,486	$225.5M	0.0%	−91,090
State Street Corp	4,992,071	$204.8M	0.0%	+88,078
Fuller & Thaler Asset Management, Inc.	4,615,816	$189.4M	0.5%	+86,233
Two Seas Capital LP	3,479,493	$142.8M	5.4%	−1,267,017
Morgan Stanley	3,395,702	$139.3M	0.0%	−110,115
Franklin Resources Inc	3,316,358	$136.1M	0.0%	+3,204,765
Geode Capital Management, LLC	3,159,866	$129.7M	0.0%	+234,178
Assenagon Asset Management S.A.	3,081,856	$126.4M	0.1%	New
Madison Avenue Partners, LP	2,874,368	$117.9M	5.1%	−1,440,794
Mangrove Partners Im, LLC	2,676,730	$109.8M	7.2%	−65,704
Citadel Advisors LLC	2,667,827	$109.5M	0.1%	−906,217
Driehaus Capital Management LLC	2,299,054	$94.3M	0.5%	+419,015
Millennium Management LLC	2,098,945	$86.1M	0.1%	−2,496,590
Dimensional Fund Advisors LP	1,896,605	$77.8M	0.0%	+564,477
Invesco Ltd.	1,842,983	$75.6M	0.0%	+281,220
Deerfield Management Company, L.P.	1,648,895	$67.7M	0.8%	−1,448,895
Arrowstreet Capital, Limited Partnership	1,642,086	$67.4M	0.0%	−681,178
Federated Hermes, Inc.	1,468,749	$60.3M	0.1%	+251,028
Newtyn Management, LLC	1,305,795	$53.6M	6.7%	−694,205
Point72 Asset Management, L.P.	1,250,639	$51.3M	0.1%	+1,155,696
Northern Trust Corp	1,241,772	$50.9M	0.0%	+80,369
Charles Schwab Investment Management Inc	1,224,609	$50.2M	0.0%	+82,724

13F reports cover disclosed long positions in U.S. stocks only.

SEC filer profile

How Indivior is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

Name on EDGARIndivior Pharmaceuticals, Inc.²
CIK0001625297
Employer ID (EIN)41-2520873¹⁵
Filer statusLarge accelerated filer not an emerging growth company; not a smaller reporting company; not a shell company¹⁵
Incorporated inDelaware¹⁵
Fiscal year endsDecember 31²
Industry code (SIC)2834 Pharmaceutical Preparations²
SEC reviewing officeOffice of Life Sciences, Division of Corporation Finance²
Business address10710 Midlothian Turnpike, Suite 125, North Chesterfield, VA 23235²
Phone804-379-1090²
Shares outstanding118,013,649 as of Jul 28, 2026¹⁴
Public float$1.8B as of Jun 30, 2025¹⁵
AuditorPricewaterhouseCoopers LLP, Richmond, Virginia PCAOB ID 238; it also attests to the company’s internal control over financial reporting¹⁵
On EDGAR sinceDec 2, 2014²
Filings549 in all: 6-K (337), 4 (39), 8-K (34), SCHEDULE 13D/A (15), 3 (13), SCHEDULE 13G/A (11), 144 (10), SCHEDULE 13G (9)²
All 41 form types
425 (7), SC 13G (6), 10-Q (5), DFAN14A (4), DRS/A (4), SC 13D/A (4), UPLOAD (4), 20FR12B/A (3), 6-K/A (3), 8-K/A (3), DRSLTR (3), S-8 (3), S-8 POS (3), SC 13G/A (3), 10-K (2), 20FR12B (2), ARS (2), CORRESP (2), EFFECT (2), SC 13D (2), SEC STAFF LETTER (2), 144/A (1), 15-12G (1), 20-F (1), 424B3 (1), CERT (1), DEF 14A (1), DEFA14A (1), DRS (1), F-6 (1), S-4 (1), S-4/A (1), SEC STAFF ACTION (1)
Latest filingsAnnual report (10-K) Feb 26, 2026
Quarterly report (10-Q) Aug 3, 2026
Proxy statement (DEF 14A) Mar 27, 2026
Latest 8-K (8-K) Oct 15, 2026

Securities registered for trading

Class	Symbol	Exchange
Common stock, $0.001 par value per share	INDV	The Nasdaq Stock Market LLC

From the cover page of the 10-K filed Feb 26, 2026 (Section 12(b) of the Exchange Act).¹⁵

Risk factors and legal proceedings

The risks Indivior names in Item 1A of its 10-K filed Feb 26, 2026: 55 risks under these headings, as written.¹⁵

Risks Related to our Company and Its Business
We are subject to risks related to the manufacture and distribution of our products globally and must meet stringent current Good Manufacturing Practices.
We rely heavily on SUBLOCADE for a significant portion of our revenues.
Our revenues may grow at a slower than expected rate or decrease due to many factors.
We rely on third parties to manufacture, package, test, and distribute our products and their facilities and processes must meet stringent regulatory requirements.
Our ability to generate revenues from our products is subject to attaining significant market acceptance among key healthcare stakeholders and our ability to successfully develop and execute commercialization strategies for each of our products. Failure to do so would adversely impact our financial condition and prospects.
We are currently, in the past have been, and in the future may be, subject to substantial litigation that could cause us to incur significant legal expenses, divert management’s attention, and result in harm to our business.
We must comply with the terms and conditions of the Stipulated Order for Permanent Injunction and Equitable Monetary Relief with the U.S. Federal Trade Commission (“FTC”), along with a similar injunction with certain State Attorneys General related to certain product launches and applications for product approvals and we could be subject to criminal charges or penalties if we fail to comply.
We are subject to additional risks because we import, manufacture, and distribute controlled substances.
Acquisitions, partnerships, joint ventures, dispositions, and other business combinations or strategic transactions involve several inherent risks, any of which could result in the benefits anticipated not being realized and could have an adverse effect on our business, financial condition, and results of operations.
The clinical study or commercial use of our products may cause unintended side effects or adverse reactions, or incidents of misuse may occur, which could adversely affect our products, business and share price.
Revenues generated by sales of our products depend on the availability from third-party payors for reimbursement for our products and the extent of cost-sharing arrangements for patients (e.g., patient co-payment, co-insurance, and deductible obligations) and cost-control measures imposed, and any reductions in payment rate or reimbursement or increases in our or in patients’ financial obligation to payors could result in decreased sales of our products and/or decreased revenues.

The other 44 risks

Congressional action to reduce spending may result in cuts to Medicaid which in turn might impair access to our products in the U.S., thereby adversely affecting our revenues and results of operations.
We operate in a highly competitive industry, which includes companies with greater resources than us. The approval and launch of generic or branded products that compete with SUBLOCADE, and an additional generic competitor for SUBOXONE Film, could have a material adverse effect on our business, prospects, results of operations and financial condition.
Failure to retain key personnel or attract new personnel could have a material adverse effect on us.
We are subject, directly or indirectly, to a variety of U.S. and international laws and regulations related to fraud and abuse, transparency, and privacy. Enforcement actions under such laws have increased in recent years. If we fail to comply, or have not fully complied, with such laws, we could face substantial penalties.
We may be subject to adverse public opinion.
We use hazardous materials in our manufacturing facilities, and any claims relating to the improper handling, storage, release or disposal of these materials could be time-consuming and expensive.
Actual costs to exit various businesses may differ materially from our estimates.
Most of our pharmaceutical pipeline relies on collaborations with third parties, which may adversely affect the development and sale of our products.
Clinical trials for the development of products, including our key pipeline products, may be unsuccessful and our product candidates may not receive authorization for manufacture and sale.
Risks Related to Intellectual Property
Failure to obtain and maintain patents and protect other proprietary rights, including in-licenses of such rights from third parties, may adversely affect us.
We may incur substantial costs as a result of litigation or other proceedings relating to patents and other intellectual property rights, and we may be unable to protect our rights to, or commercialize our products.
Risks Related to Regulatory or Legal Matters
The FDA, the DEA, or other regulatory agencies may impose limitations or post-approval requirements on approvals for our products.
Post-Approval or Post-Marketing Studies.
Scheduling Under the Controlled Substances Act.
We are subject to ongoing obligations and continued regulatory inspection by the FDA and equivalent foreign regulatory agencies, and we may be subject to penalties and litigation and large incremental expenses if we fail to comply with regulatory requirements or experience problems with our products.
Product liability and product recalls could have a material adverse effect on us.
We are subject to federal, state and foreign healthcare laws and regulations and implementation or changes to such healthcare laws and regulations could adversely affect our business and results of operations.
Guidelines and coverage determinations published by the government, professional societies, insurance carriers, physician groups, science foundations, and other organizations may affect the use of the Company’s products.
Failure to comply with payment and reporting obligations under the Medicaid Drug Rebate program or other governmental pricing programs in the U.S. could result in additional reimbursement requirements, penalties, sanctions and fines.
Failure to comply with anti-corruption laws and regulations, anti-money laundering laws and regulations, and/or economic sanctions could result in us becoming subject to fines or penalties.
The pharmaceutical sector is facing increased government scrutiny from competition and pricing authorities around the world, and any failure to comply, may expose us to significant damages and commercial restrictions that can materially and adversely affect our business.
The regulatory approval process is expensive, time-consuming, and uncertain and may prevent us or our partners from obtaining approvals for the commercialization of some or all of our product candidates. Further, the FDA or other regulatory agencies may not agree with our regulatory approval strategies or components of our filings for our products and may not approve, or may delay the approval of, our products.
Risks Related to our Financial Condition and Tax Matters
Our balance sheet is leveraged, and any reduction in revenue or change in our estimates may adversely affect our liquidity and profitability.
Our business strategy may involve future transactions that may harm the market price of our common stock or require us to seek additional funds, and such funding may not be available on commercially favorable terms or at all and may cause dilution to our existing stockholders. The issuance of additional common stock in connection with future acquisitions, any stock incentive or stock option plan, or otherwise, may dilute all other stock holdings.
Our effective tax rate may increase, and changes in tax rules and regulations, or interpretations thereof, may adversely affect our financial condition.
Our deferred tax assets may not be realized.
Tariffs on pharmaceutical products, and potential reciprocal responses by other countries, may adversely affect our revenues or profitability.
Weakness in the economy, geopolitics, market trends, disruptions in our supply chain, uncertainty, and other conditions in the markets in which we operate, particularly in the U.S., may adversely affect our sales growth and results of operations.
Our operating results may fluctuate significantly.
Any future pandemic, and governmental and societal responses thereto, may harm our business, results of operations, and financial condition.
Our insurance coverage may not be adequate.
Our term loan contains certain covenants that could limit our ability to plan for or respond to changes in our business.
Risks Related to Our Common Stock
Our common stock is subject to market price volatility and the market price may decline disproportionately in response to developments that are unrelated to our operating performance.
If securities or industry analysts do not publish research or publish inaccurate or unfavorable research about our business, our stock price and trading volume could decline.
The Parent Company is a holding company with no business operations of its own and depends on its subsidiaries for cash, including in order to pay dividends or repurchase shares.
We may not pay dividends or repurchase our shares in the future. Our ability to pay dividends, repurchase our shares, or make other returns of capital in the future depends, among other things, on our financial performance.
We are subject to anti-takeover provisions in our certificate of incorporation and bylaws and under Delaware law that could delay or prevent an acquisition of our company, even if the acquisition would be beneficial to our stockholders.
Provisions of our Note Purchase Agreement may deter or prevent an otherwise beneficial takeover attempt of us.
Risks Related to Information Security and Data Privacy
Business interruptions or breaches of data security could disrupt our product sales and delay the development of our product candidates.
We are required to maintain the privacy and security of personal information in compliance with privacy and data protection regulations worldwide. Failure to meet the requirements could result in fines, penalties, or private actions, harm our business and damage our reputation with customers, suppliers, and associates.
Artificial intelligence presents risks and challenges that can impact our business including by posing security risks to our confidential information, proprietary information, and personal data.
Risks Related to Our International Status and Operations
We are exposed to risks related to currency exchange rates.
Risks Related to Being a Publicly-Traded Company in the U.S.
Changes in accounting standards and subjective assumptions, estimates and judgments by management related to complex accounting matters, could significantly affect our financial results or financial condition.

Legal proceedings

The descriptions of our litigation and regulatory matters, and other matters, contained in Item 8. Financial Statements—Audited Consolidated Financial Statements - Note 16. Commitments and Contingencies to our financial statements are incorporated herein by reference.

The opening of Item 3, Legal Proceedings.¹⁵

Sources

The numbers on this page point here. Each one links to the record it came from.

1
WikidataIndivior on Wikidata
2
SEC EDGARIndivior filings on SEC EDGAR
3
WikipediaIndivior on Wikipedia
4
GLEIFIndivior LEI record (213800V3NCQTY7IED471)
5
SEC EDGARIndivior filings on SEC EDGAR
6
WikipediaIndivior on Wikipedia (revision used)
7
SEC EDGARIndivior annual report, Exhibit 21 (subsidiaries)
8
Wikimedia CommonsIndivior photo by Jr de Barbosa, CC BY-SA 3.0
9
SEC EDGARIndivior 10-K for fiscal 2025
10
SEC EDGARIndivior 10-K for fiscal 2022
11
SEC EDGARIndivior 10-K for fiscal 2021
12
SEC EDGARIndivior 10-K for fiscal 2022
13
SEC EDGARIndivior 10-Q for fiscal 2026
14
SEC EDGARIndivior 10-Q for fiscal 2026
15
SEC EDGARIndivior 10-K filed Feb 26, 2026: Item 2, Properties
16
SEC EDGARJoseph Ciaffoni, Chief executive officer
17
SEC EDGARRyan Preblick, Chief financial officer
18
SEC EDGARChristian Heidbreder, Chief Scientific Officer
19
SEC EDGARWoodrow D. Anderson, Chief Accounting Officer
20
SEC EDGARBarbara Ryan, Board member
21
SEC EDGARDavid E. Wheadon, Board member
22
SEC EDGARJuliet Thompson, Board member
23
SEC EDGARKeith Humphreys, Board member
24
SEC EDGARMark Stejbach, Board member
25
SEC EDGARStuart A. Kingsley, Board member
26
SEC EDGARJeffrey W. Burris, General counsel
27
SEC EDGARShareholder vote
28
SEC EDGAROther events
29
SEC EDGARRegulation FD disclosure; Other events
30
SEC EDGAREnded a material agreement
31
SEC EDGAREntered a material agreement; Regulation FD disclosure
32
SEC EDGARResults of operations; Regulation FD disclosure
33
SEC EDGARRegulation FD disclosure
34
SEC EDGARExecutive or director change; Shareholder vote
35
SEC EDGARRegulation FD disclosure; Other events
36
SEC EDGARResults of operations; Regulation FD disclosure
37
SEC EDGAREntered a material agreement; Ended a material agreement; New debt or obligation
38
SEC EDGAROther events
39
NasdaqNasdaq calendar
40
SEC EDGARIndivior 8-K, Item 2.02 (results of operations)
41
SEC EDGARIndivior 8-K, Item 2.02 (results of operations)
42
SEC EDGARIndivior 8-K, Item 2.02 (results of operations)
43
SEC EDGARIndivior 8-K, Item 2.02 (results of operations)
44
SEC EDGARMILLENNIUM MANAGEMENT LLC SCHEDULE 13G on Indivior
45
SEC EDGAROaktree Capital Holdings, LLC SCHEDULE 13D/A on Indivior
46
SEC EDGARMadison Avenue Partners, LP SCHEDULE 13G/A on Indivior
47
SEC EDGARFULLER & THALER ASSET MANAGEMENT, INC. SCHEDULE 13G/A on Indivior
48
SEC EDGARVANGUARD PORTFOLIO MANAGEMENT LLC SCHEDULE 13G on Indivior
49
SEC EDGARVANGUARD CAPITAL MANAGEMENT LLC SCHEDULE 13G on Indivior
50
SEC EDGARGoldman Sachs SCHEDULE 13G/A on Indivior
51
SEC EDGARBlackRock SCHEDULE 13G/A on Indivior
52
SEC EDGARTwo Seas Capital LP SCHEDULE 13D/A on Indivior
53
SEC EDGARJames E. Flynn SCHEDULE 13G/A on Indivior
54
SEC EDGARMorgan Stanley SCHEDULE 13G/A on Indivior
55
SEC EDGARSCOPIA CAPITAL MANAGEMENT LP SC 13G/A on Indivior
56
SEC EDGARSG Americas Securities, LLC SC 13G/A on Indivior
57
SEC EDGARIndivior proxy statement (DEF 14A), 2025 pay