Indivior PLC Indivior Reaches Settlement with Reckitt Benckiser (8232M)
January 25 2021 - 12:14PM
UK Regulatory
TIDMINDV
RNS Number : 8232M
Indivior PLC
25 January 2021
Indivior Reaches Settlement with Reckitt Benckiser
This release contains inside information.
Slough, UK, and Richmond, VA, January 25, 2021 - Indivior and
Reckitt Benckiser ("RB") have today settled the claims which RB
issued in the Commercial Court in London on November 13, 2020,
seeking indemnity under the 2014 Demerger Agreement between the
companies.
Pursuant to the settlement, RB has agreed to withdraw the US
$1.4 billion claim and to release Indivior from any claim for
indemnity under the Demerger Agreement relating to the US
Department of Justice ("DOJ") and Federal Trade Commission ("FTC")
settlements which RB entered into in July 2019, as well as other
claims for indemnity arising from those matters.
Indivior has, in consideration of the above release, agreed to
pay RB a total of $50 million over the next five years. Indivior
has also agreed to release RB from any claims to seek damages
relating to its settlement with the DOJ and the FTC.
Indivior will not provide any further information on the
matter.
About Indivior
Indivior is a global pharmaceutical company working to help
change patients' lives by developing medicines to treat addiction
and serious mental illnesses. Our vision is that all patients
around the world will have access to evidence-based treatment for
the chronic conditions and co-occurring disorders of addiction.
Indivior is dedicated to transforming addiction from a global human
crisis to a recognized and treated chronic disease.
Building on its global portfolio of opioid dependence
treatments, Indivior has a pipeline of product candidates designed
to both expand on its heritage in this category and potentially
address other chronic conditions and co-occurring disorders of
addiction, including alcohol use disorder. Headquartered in the
United States in Richmond, VA, Indivior employs more than 700
individuals globally and its portfolio of products is available in
over 40 countries worldwide. Visit www.indivior.com to learn more.
Connect with Indivior on LinkedIn by visiting
www.linkedin.com/company/indivior .
Forward-Looking Statements
This announcement contains certain statements that are
forward-looking. By their nature, forward-looking statements
involve risks and uncertainties as they relate to events or
circumstances that may or may not occur in the future. Actual
results may differ materially from those expressed or implied in
such statements because they relate to future events.
Forward-looking statements include, among other things, statements
regarding the Indivior Group's financial guidance for 2020, if any,
and its medium- and long-term growth outlook, its operational
goals, its product development pipeline and statements regarding
ongoing litigation and other statements containing the words
"subject to", "believe", "anticipate", "plan", "expect", "intend",
"estimate", "project", "may", "will", "should", "would", "could",
"can", the negatives thereof, variations thereon and similar
expressions.
Various factors may cause differences between Indivior's
expectations and actual results, including, among others (including
those described in the risk factors described in the most recent
Indivior PLC Annual Report and in subsequent releases): factors
affecting sales of Indivior Group's products and financial
position; the outcome of research and development activities;
decisions by regulatory authorities regarding the Indivior Group's
drug applications or authorizations; the speed with which
regulatory authorizations, pricing approvals and product launches
may be achieved, if at all; the outcome of post-approval clinical
trials; competitive developments; difficulties or delays in
manufacturing and in the supply chain; disruptions in or failure of
information technology systems; the impact of existing and future
legislation and regulatory provisions on product exclusivity;
trends toward managed care and healthcare cost containment;
legislation or regulatory action affecting pharmaceutical product
pricing, reimbursement or access; challenges in the commercial
execution; claims and concerns that may arise regarding the safety
or efficacy of the Indivior Group's products and product
candidates; risks related to legal proceedings, including
compliance with the U.S. Department of Justice Resolution and
Settlement Agreements, noncompliance with which could result in
potential exclusion from participating in U.S. Federal health care
programs; the ongoing investigative and antitrust litigation
matters; the opioid national multi-district litigation and
securities class action litigation; the Indivior Group's ability to
protect its patents and other intellectual property; the outcome of
patent infringement litigation relating to Indivior Group's
products, including the ongoing ANDA lawsuits; changes in
governmental laws and regulations; issues related to the
outsourcing of certain operational and staff functions to third
parties; risks related to the evolving COVID-19 pandemic and the
potential impact of COVID-19 on the Indivior Group's operations and
financial condition, which cannot be predicted with confidence;
uncertainties related to general economic, political, business,
industry, regulatory and market conditions; and the impact of
acquisitions, divestitures, restructurings, internal
reorganizations, product recalls and withdrawals and other unusual
items.
Consequently, forward-looking statements speak only as of the
date that they are made and should be regarded solely as our
current plans, estimates and beliefs. You should not place undue
reliance on forward-looking statements. We cannot guarantee future
results, events, levels of activity, performance or achievements.
Except as required by law, we do not undertake and specifically
decline any obligation to update, republish or revise
forward-looking statements to reflect future events or
circumstances or to reflect the occurrences of unanticipated
events.
Investor Contact :
Jason Thompson, Indivior
Vice President, Investor Relations
+1 804-402-7123
Jason.Thompson@indivior.com
Media Contacts :
UK
Tulchan Communications
+44 207-353-4200
US
IndiviorMediaContacts@indivior.com
+1 804-594-0836
-ends-
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