Movers of Friday 30 April 2021

Francesca Morgan
Francesca Morgan
Market Report
15:30, 30th April 2021

Indivior (INDV) shares ticked up 6.37% to 152p while it announces $300m pay out 

The specialty pharmaceuticals business has announced a $300m pay out to all 50 US states to resolve claims that it improperly marketed its opioid addiction drug Suboxone. 

Last year, it reached a $600m settlement plea deal to settle criminal fraud charges, after US authorities found the firm’s conduct had resulted in improper use of state Medicaid funds.  

Meanwhile, on Thursday the Company told investors that it has retained its financial 2021 guidance as a result of a first-quarter revenue rise of 18% to $180m from $153m in 2019. 

Indivior said it had benefited from several factors including, inter alia, higher revenues from Sublocade and the continued growth in the buprenorphine medication-assisted market. 

INDV price chart

Futura Medical (FUM) shares jump 28.57% to 58.5p as it confirms EU CE mark for MED3000  

The pharmaceutical firm has received CE mark approval for its gel formulation MED3000 from the EU Notified Body, making it Europe's first approved clinically proven, topical treatment for erectile dysfunction available without the need of a doctor's prescription. 

The Company said it believes the approval will pave the way for approval in many more countries around the world, including in the Middle East, Africa, the Far East and Latin American regions which allow "fast-track" review based on recognition of the EU CE mark. 

Due to post-Brexit arrangements, the EU CE mark can be used to market the product in the UK until 30 June 2023 by which time a specific UKCA mark has to be obtained. This will be a streamlined process since it is understood the UK application can bridge to the EU approval. 

FUM price chart

Genedrive (GDR) shares rise 19.31% to 86.5p as it gains approval for COVID-19 test in India 

The Company announced that it has received formal registration by the Indian Council of Medical Research ("ICMR") for its Genedrive® 96 SARS-CoV-2 Kit in the Indian market.  

Following the approval, Genedrive will commence commercial activities in India through its existing distributor Divoc Health and will also be seeking additional routes to the market.  

India has also introduced pricing controls into the public market, setting a dynamic that does favour the provision of "basic" tests. However, Genedrive said it believes that formal performance evaluation data and ICMR approval ‘will contribute positively to commercial efforts and premium products such as its own can play a part in the need for testing.  

GDR price chart

Europa Metals (EUZ) shares were up 14.58% to 12.38p on the back of positive results 

The Company released a drilling update on Thursday in which it stated that the primary drill holes at the Toral zinc, phosphorous and silver project in Spain have now been completed with assays from two of the three holes (TOD-028 and TOD-029) sent to laboratories. 

Following, a positive internal inspection of Drillhole TOD-029, four additional daughter holes have been drilled and completed to further ore-sorting testwork in the upper siliceous zone of the deposit and contribute to the Pre-Feasibility Study metallurgical review, it noted. 

While drilling at the Toral Project continues, the Company said it is now awaiting the final assays from the first batch of drilling at the site which will be announced once received. 

EUZ price chart

TBC Bank Group (TBCG) shares fell 3.20% to 998p as it hires three new directors 

The banking group said it has appointed three new independent Non-Executive Directors; Eran Klein, Per Anders Fasth, and Thymios P. Kiriakopoulos, with effect from 4 May 2021. 

The Board said it believes that the appointed new Non-Executive Directors' ‘significant and wide-ranging experience’ will bring further valuable skills and balance to the TBC Board. 

TBCG price chart


Disclaimer & Declaration of Interest

The information, investment views and recommendations in this article are provided for general information purposes only. Nothing in this article should be construed as a solicitation to buy or sell any financial product relating to any companies under discussion or to engage in or refrain from doing so or engaging in any other transaction. Any opinions or comments are made to the best of the knowledge and belief of the writer but no responsibility is accepted for actions based on such opinions or comments. Vox Markets may receive payment from companies mentioned for enhanced profiling or publication presence. The writer may or may not hold investments in the companies under discussion.

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