What's Going On With Pharma Company Indivior's Shares Today?

Indivior PLC INDV shares are trading higher by around 6% after the company inked a deal to resolve the claims brought by the direct purchasers in the In re Suboxone Antitrust Litigation multi-district litigation (MDL).

As per the agreement, INDV will pay $385 million and incur a charge of $228 million in Q3, which will be excluded from adjusted earnings. 

Indivior has previously disclosed settlement agreements with two other groups of plaintiffs in the MDL, a class of End Payors and various State Attorneys General.

The agreement with the direct purchasers will mark the conclusion of the litigation once the settlements for the claimants and EPs are approved by the U.S. District Court for the Eastern District of Pennsylvania. The trial, earlier expected to begin on October 30, 2023, will be canceled. 

The charges represent the additional amount above the current remaining provision of $157 million for the Antitrust MDL, reflecting the previously disclosed settlement agreements. 

Once approved by the Court, the agreement will become final, and payment is projected to be made in November 2023 and funded from existing cash.

"We are pleased to achieve this settlement to conclude this legacy multi-district antitrust matter. 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," stated Mark Crossley, CEO.

Q3 Preliminary Results: INDV reported revenue of $268 million-$273 million and adjusted operating income of $55 million- $65 million.

INDV will report Q3 and YTD 2023 results on November 9, 2023.

Price Action: INDV shares are up 6.41% at $19.51 on the last check Monday.