Indivior subsidiary reaches agreement to resolve antitrust litigation claims

Indivior announced that its subsidiary, Indivior Inc, has reached an agreement to resolve the claims brought by the end payor class of litigants in the In re Suboxone Antitrust Litigation multi-district litigation, or MDL. The agreement marks the resolution of the End Payor Claimants’ claims against the company in the MDL. The agreement is subject to initial approval by the United States District Court for the Eastern District of Pennsylvania, a notice period, participation by an appropriate number of end payors and final approval of the court. As part of the agreement, the company expects to pay $30M to the end payor claimants. The settlement amount is in line with the current provision of $188M for the MDL. Once the agreement is approved and entered by the court, the final settlement amount will be recorded against the $188M provision. Payment into an escrow account for the benefit of the end payor claimants is expected to be made in September, and funded from the company’s existing cash balance. As set out in the company’s half year report on July 27, the company continues to prepare for trial on October 30, in relation to the remaining claims of the direct purchaser class while at the same time exploring the possibility of settlement at the right value with this class.