Indivior Settles Antitrust Litigation for $385 Million

Indivior, a pharmaceutical company, has reached a settlement to pay $385 million in order to resolve the remaining claims in its long-standing antitrust litigation related to its opioid addiction treatment, Suboxone. This agreement with direct purchasers marks the end of the multi-district litigation, and the trial scheduled for October has been cancelled.

The London-listed group will incur a charge of $228 million in its third-quarter results, which will be excluded from its adjusted earnings. This charge supplements the existing $157 million provision made for previous settlements with the U.S. State Attorney Generals and a class of end payors.

Indivior plans to fund the $385 million payment using its current cash reserves, with the payment scheduled for November.

According to CEO Mark Crossley, "The resolution of this litigation, which was filed over a decade ago, provides greater certainty for all Indivior stakeholders and allows us to continue focusing on our important work for patients suffering from opioid use disorder and mental health illnesses."

In addition to the settlement news, Indivior expects strong financial performance in the third quarter. It projects net revenue of $268 million to $273 million, representing a 17% year-on-year increase at the mid-point. However, it also anticipates a reported operating loss between $178 million and $188 million for the same period.