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    Brian Balchin

    Research Analyst at Jefferies

    Brian Balchin is an Equity Analyst at Jefferies International Ltd., specializing in European pharmaceutical and biotechnology research. He covers major companies including Merck KGaA and Galapagos, delivering investment ratings such as Buy and Hold, and has built his coverage rapidly since joining Jefferies in May 2022. Previously, Balchin served as Assistant Vice President at Barclays Capital Securities Ltd. until April 2022, before which he developed expertise in financial analysis for global investment banks. Professionally, he holds FINRA registration as a broker at Jefferies LLC and maintains appropriate securities licenses.

    Brian Balchin's questions to INDIVIOR (INDV) leadership

    Brian Balchin's questions to INDIVIOR (INDV) leadership • Q4 2024

    Question

    Brian Balchin of Jefferies, on behalf of James Vane-Tempest, questioned the profitability of OPVEE given its $10-15 million revenue guidance and associated costs. He also asked why R&D expenses, guided at $85-90 million, are not lower following the discontinuation of certain programs.

    Answer

    CFO Ryan Preblick stated that OPVEE costs are aligned with its strategic programs and have been relatively flat, with the business expected to be accretive next year. CEO Mark Crossley added that the OPVEE team is very small and focused. Regarding R&D, Preblick explained the current spending primarily reflects the progression of two Phase II OUD assets and ongoing real-world evidence generation for SUBLOCADE.

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