INVVY - Indivior to pay $102M to settle monopoly claims over opioid addiction therapy
2023-06-02 13:24:58 ET
Indivior PLC ( OTCPK:INVVY ) announced Friday that it would pay $102.5M to settle a multistate litigation related to allegations that the company used illegal means to shield its opioid addiction treatment Suboxone from generic competition.
The agreement between Indivior’s subsidiary, Indivior Inc., and the Attorneys General of 41 states and the District of Columbia comes before an antitrust trial in September. The court in the Eastern District of Pennsylvania will next review it for approval.
Indivior ( OTCPK:INVVY ) said it would pay the settlement amount in June 2023 from the company’s cash, recognizing it against a $290M legal provision recorded for the multi-district litigation.
Under the litigation, Indivior was accused of switching the Suboxone pill to an oral film form to extend its monopoly in a strategy known as product hopping.
The states’ lawsuit filed in 2016 is part of a broader multidistrict litigation that also includes antitrust claims from wholesalers and insurers.
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Indivior to pay $102M to settle monopoly claims over opioid addiction therapy