The merger closing on November 2 is the key catalyst; watch for the combined company's first post-merger guidance and any integration updates. The strong standalone results suggest Indivior enters the merger from a position of financial strength.
How the stock moved after the report
⚠ Clustered BULLISH VIEWSTOCK ABOVE ENTRY AT T+1- T+0 · Oct 29 $35.25entry
- T+1 · 6d ago +0.34%α +2.11% · $35.37
- T+4 · todayOpen
- T+5 · in 11h Pending
- T+20 · in 22d Pending
- T+60 · in 3mo Pending
Price Chart
How similar events traded
Executive Summary
Indivior reported record Q3 2026 results with total net revenue up 13% YoY to $356M, record SUBLOCADE revenue up 22% YoY to $267M, and record adjusted EBITDA up 76% YoY to $211M. The merger with Supernus is on track to close November 2, 2026, with shareholder approval already obtained.
Key Financial Metrics
Key Facts
- Q3 2026 total net revenue of $356M, up 13% YoY from $314M
- Record quarterly SUBLOCADE net revenue of $267M, up 22% YoY
- Record GAAP net income of $137M ($1.12 diluted EPS) vs $42M ($0.33) in Q3 2025
- Record adjusted EBITDA of $211M, up 76% YoY from $120M
- Adjusted EBITDA margin of 59%, up 2,100 basis points YoY
- Cash and investments of $332M at quarter end
- Merger with Supernus expected to close November 2, 2026; combined company to trade as SUPN
- Shareholders approved the merger in October 2026
Financial Impact
Revenue grew 13% YoY, net income more than tripled, adjusted EBITDA rose 76% YoY; merger closing within days
Risk Factors
- Post-merger integration execution risk with Supernus
- Guidance will no longer apply after merger close, creating uncertainty around combined outlook
- Special cash dividend contingent on closing adds leverage
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 4 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 425 Filing (Primary) | 0001193125-26-436954 |
| Document: 0001193125-26-436954-index-headers.html | 0001193125-26-436954 |
| Document: 0001193125-26-436954-index.html | 0001193125-26-436954 |
| Document: 0001193125-26-436954.txt | 0001193125-26-436954 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Nov 3, 2026 1d ago | 8-K | $35.43 | awaiting T+5 | awaiting T+5 | No price |
Nov 2, 2026 2d ago | 8-K | $35.25 | awaiting T+5 | awaiting T+5 | No price |
Oct 29, 2026 6d ago | 425 | $35.25 | awaiting T+5 | awaiting T+5 | No price |
Oct 29, 2026 6d ago | 8-K | No price | awaiting T+5 | awaiting T+5 | No price |
Oct 29, 2026 6d ago | Press Release | $35.25 | awaiting T+5 | awaiting T+5 | No price |
Oct 20, 2026 15d ago | Institutional Cluster | $34.79 $34.72 | ▼ −0.20% | ▲ +0.24% | No price |
Oct 19, 2026 16d ago | Press Release | $33.87 | awaiting T+5 | awaiting T+5 | No price |
Oct 6, 2026 29d ago | 425 | $35.90 $35.42 | ▼ −1.34% | ▼ −1.20% | No price |
Oct 6, 2026 29d ago | 8-K | $35.90 $35.42 | ▼ −1.34% | ▼ −1.20% | No price |
Sep 30, 2026 5w ago | SC 13G | $35.38 $35.45 | ▲ +0.20% | ▼ −1.10% | No price |
US Market Status
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