LONDON, UK: Indivior Inc. has reached an agreement to resolve the claims brought by the end payor class of litigants (the End Payor Claimants) in the In re Suboxone Antitrust Litigation multi-district litigation (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 (the “Court”), 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 $30 million to the End Payor Claimants. The settlement amount is in line with the current provision of $188 million for the MDL.
Once the Agreement is approved and entered by the Court, the final settlement amount will be recorded against the $188 million provision. Payment into an escrow account for the benefit of the End Payor Claimants is expected to be made in September of 2023, and funded from the Company’s existing cash balance.
“We remain focused on helping those suffering from substance use disorders and mental illness,” said Mark Crossley, Chief Executive Officer. “Resolving these legacy legal matters at the right value helps us further our mission for patients and creates greater certainty for our stakeholders.”
As set out in the Company’s half year report on July 27, 2023, the Company continues to prepare for trial on October 30, 2023, 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.
Leave a Reply