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Indivior Agrees to Pay $385M Amid Monopoly Lawsuit
Wholesalers claim drugmaker illegally suppressed generic competition for opioid addiction treatment, Suboxone.
Indivior, an addiction treatment company, announced that it has reached an agreement with wholesalers to resolve their claims of suppressing competition for its opioid addiction drug, Suboxone. As a result of the agreement, the upcoming trial, scheduled for Oct 30, has been cancelled. Reportedly, Indivior will pay $385 million and will take a charge of $228 million in the third quarter, which will be excluded from adjusted earnings.
“We are pleased to achieve this settlement to conclude this legacy multi-district antitrust matter,” said Mark Crossley, CEO, Indivior. “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 around the world.”
Reference: Indivior Reaches Agreement with Direct Purchasers to Resolve Antitrust Multi-District Litigation; Provides Preliminary Q3 and YTD 2023 Results. Indivior. October 23, 2023. Accessed October 23, 2023. https://www.indivior.com/en/media/press-releases/Indivior-Reaches-Agreement-with-Direct-Purchasers-to-Resolve-Antitrust-Multi-District-Litigation-Provides-Preliminary-Q3-and-YTD-2023-Results
MDMA Therapy for Mental Health Conditions: Do the Benefits Outweigh the Risks?
October 25th 2024Despite a recent FDA Complete Response Letter issued to Lykos for midomafetamine capsules for the treatment of post-traumatic stress disorder, experts believe that the future is bright for psychedelic drugs that treat mental health conditions.
Securities Litigation Arising from Alzheimer's Drug Treatments
September 25th 2024The legal challenges surrounding Biogen’s Aduhelm and Cassava Sciences’ simufilam underscore the ongoing difficulties in Alzheimer's drug development, leading to securities litigation over allegedly misleading statements about trial results and commercialization efforts.
