May 14, 2020 / 11:34 AM / in 3 months

Indivior profit slumps on legal costs, higher litigation provisions

May 14 (Reuters) - British drugmaker Indivior on Thursday reported a steep fall in first-quarter profit, as it spent heavily on promoting its newer opioid treatment and incurred higher costs related a U.S. investigation into its best-selling drug.

The company, which withdrew its 2020 forecast last month over uncertainty related to the coronavirus crisis, said adjusted operating profit in three months to March fell to $3 million from $102 million a year ago. (bit.ly/2yVe1KW)

London-listed Indivior, which was spun-off from Reckitt Benckiser, also said it had increased its litigation and antitrust provisions to $621 million from $438 million previously.

Reporting by Pushkala Aripaka in Bengaluru; Editing by Shinjini Ganguli

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