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Here’s Why Indivior Share Price Gained Over 5% Today

Practice Stock Trading
Updated: 24 September 2020

Shares of Indivior PLC (LON: INDV) gained more than 5% today after the UK-based drugmaker announced plans to save up to $70 million next year.

The restructuring process will include job cuts, as well as amendments to supply chains in the United States. In addition, the drugmaker will suspend merit-based pay increases and slash third-party expenses.

“While some of the expected savings will be reinvested … we will retain a large portion of the expected savings to preserve the group’s flexibility through the COVID-19 pandemic,” new Chief Executive Officer Mark Crossley said.

As for its performance, Indivior said that its 3Q performance has been in line with prior forecasts.

Indivior share price gained nearly 6% to trade at 122.4p.

Indivior share price gains on anticipated savings September 2020