Indivior PLC INVVY IZQVF NDV, an addiction treatment company, announced that its subsidiary, Indivior Inc., has reached an agreement to resolve the claims brought by the Attorneys General of 41 states and the District of Columbia ("the claimants") in the In re Suboxone Antitrust Litigation multi-district litigation ("MDL"). The agreement marks the comprehensive resolution of the states' claims against the company in the MDL. The agreement will become final once entered by the United States District Court for the Eastern District of Pennsylvania.
As part of the agreement, the company will pay $102.5 million to the claimants. The settlement amount is in line with the original provision of $290 million for the overall MDL. Once the agreement is entered by the court, the settlement amount will be recorded against the $290 million provision. Payment is expected to be made in June of 2023, funded from the company's existing cash.
As part of the agreement, the claimants agree to release all claims related to the MDL, and the company agrees to certain notification provisions and restrictions similar to the 10-year stipulated order entered into with the Federal Trade Commission ("FTC") in November 2020. These notification provisions and restrictions would run concurrently with the FTC stipulated order, in which the company is required to make and provide specified disclosures and notifications to the claimants, including regular written reports on the company's compliance with the agreement, any filing of a citizen petition with the United States Food and Drug Administration, any filing of a new drug application for a follow-on drug product with FDA, any approval of new drug products, and any proposed changes to the company's corporate structure. In addition, the company is prohibited from certain conduct that may arise from the approval of a new drug application for a follow-on drug product as described in the agreement.
Photo by Sasun Bughdaryan on Unsplash
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