Indivior Share Discussion Threads

[timmy11] 12/11/2020 21:19

Search Product Liability & Toxics Law News
Advanced Search
Go

Login
Product Liability & Toxics Law News
Indivior to Pay $600M Total for Civil/Criminal Opioid Liability
Nov. 12, 2020, 7:51 PM


Invidior Solutions will pay $600 million total to resolve the company’s civil and criminal liabilities related to marketing Suboxone, an opioid-addiction-treatment drug, the Department of Justice announced today.

Includes $289 million in criminal penalties
The investigation and prosecution of Invidior Solutions, its parent companies, two former executives and a resolution with previous parent Reckitt Benckiser Group resulted in more than $2 billion of recoveries
In connection with its guilty plea, Invidior admitted to making false statements regarding the safety of Suboxone

[grupo] 12/11/2020 19:56

WRONG THREAD FELLA



maywillow
12 Nov '20 - 19:44 - 2997 of 2997

[maywillow] 12/11/2020 19:44

FWIW ALTHOUGH A LITTLE OUT DATED REGARDING SENIOR MANAGEMENT CHANGES



HALL AND SALAZAR NOW GONE

[thaiger] 12/11/2020 19:30

Has the court signed off the fine agreement today?

[waldron] 10/11/2020 19:02

Indivior to Participate in Upcoming Conferences

Tue, 10th Nov 2020 07:00
RNS Number : 7452E
Indivior PLC
10 November 2020




Indivior Announces Participation in Upcoming Investor Conferences

Slough, United Kingdom and Richmond, Virginia - November 10, 2020 - Indivior PLC (LON: INDV) today announced its participation in the following upcoming investor conferences:

· November 16th, 8:00 AM US Eastern Time (ET): Stifel Virtual Healthcare Conference (link).

· November 17th, 12:00 PM US Eastern Time (ET): Jefferies Virtual Global Healthcare Conference (link).

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.

For Further Information

Investor Enquiries




Jason Thompson


VP, Investor Relations Indivior PLC


[phone]

[e-mail]

Media Enquiries


Jonathan Sibun


Tulchan Communications

US Media Inquiries




[phone]

[phone]

[e-mail]





-ends-

[waldron] 02/11/2020 16:49

SURPRISED AT THE SPREAD

Indivior (INDV)
London Stock Exchange

Share Price is delayed by 15 minutes

Share Price: 107.20

Bid: 121.00
Ask: 98.25

Change: -3.10 (-2.81%)

Spread: -22.75 (-18.80%)

[ariane] 02/11/2020 08:31

Price (GBX)
112.70 2.18% (2.40)

[la forge] 30/10/2020 11:31

DOJ and Related Matters

Agreement to Resolve Criminal Charges and Civil Complaints Related to SUBOXONE Film

-- The Group has reached an agreement with the United States Department of Justice (Justice Department or DOJ), the U.S. Federal Trade Commission (FTC), and U.S. state attorneys general to resolve the criminal and civil liability in connection with a multi-count indictment brought in April 2019 by a grand jury in the Western District of Virginia, a civil lawsuit joined by the Justice Department in 2018, and an FTC investigation. Under the terms of the agreement, Indivior Solutions Inc. ("Solutions Inc."), a wholly owned subsidiary of Indivior PLC, has pleaded guilty to a single count of making a false statement relating to health care matters in 2012 in violation of 18 U.S.C. Section 1035. Indivior will make payments to federal and state authorities totaling $600 million (plus applicable interest of 1.25% on a portion of that total amount), has agreed to a stipulated injunction with the FTC, and entered into a Corporate Integrity Agreement with the Office of Inspector General of the Department of Health and Human Services (HHS). Under the terms of the agreement, the Justice Department will move to dismiss all other criminal charges and civil claims upon judicial approval of the agreements and sentencing.

-- Under the terms of a related agreement with the HHS, Solutions Inc. will be excluded from participating in government health programs. This exclusion will not apply to any other entities within the Group. The Group does not anticipate the exclusion of Solutions Inc. will have any material impact on the Group's ability to continue to participate in government health programs.

-- Under the agreement, the Group will make a payment of $100 million within three days after the week the plea is finalized and approved by a judge. Subsequently, six annual instalments of $50 million will be due every January 15 from 2022 through 2027. The final instalment of $200 million will be due on December 15, 2027. The Group carries a provision of $626 million ( FY19: $438 million) for DOJ and related matters.

-- Under the terms of the five-year Corporate Integrity Agreement with the HHS Office of the Inspector General (HHS-OIG), the Group will continue its commitment to promote compliance with laws and regulations and its ongoing evolution of an effective compliance program, including written standards, training, reporting, and monitoring procedures. The Group will be subject to reporting and monitoring requirements, including annual reports and compliance certifications from key management and the Board Nominating & Governance Committee submitted to HHS-OIG. In addition, the Group will be subject to monitoring by an Independent Review Organization, who will submit audit findings to HHS-OIG, and review by a Board Compliance Expert, who will prepare two compliance assessment reports in the first and third reporting periods of the Corporate Integrity Agreement. See Risk Factors on page 7.

-- Under the terms of the resolution agreement with the Justice Department, the Group has agreed to compliance terms regarding its sales and marketing practices. Compliance with these terms is subject to annual Board and CEO certifications submitted to the U.S. Attorney's Office. The resolution agreement with the Justice Department is subject to approval by a federal judge.

-- A hearing was held electronically before the judge on July 24, 2020 at which Solutions, Inc. entered the guilty plea to the single count Information subject to the plea agreement. The judge took the plea under consideration, as is his custom. A sentencing date of November 12, 2020 has been set at which the plea and the plea agreement will be addressed further, and, if accepted, sentencing will be completed at that time.

[waldron] 29/10/2020 15:50

Indivior Reinstates Annual Guidance; Quarterly Profit Falls 79%

Thu, 29th Oct 2020 12:02
Alliance News

(Alliance News) - US-based Indivior PLC on Thursday reinstated guidance for the full-year as it posted a drop in third quarter revenue and profit.

The specialist pharmaceutical company focused on combatting addiction said net revenue fell 20% in the third quarter ended September 30 to USD159 million from USD199 million a year before.

Net income fell 79% to USD10 million from USD48 million a year before. Operating profit fell 68% to USD18 million from USD57 million a year prior.

Net revenue from the company's Sublocade product increased 90% in the nine months to September 30 to USD91 million from USD48 million a year before.

Sublocade is a prescribed buprenorphine extended-release injection used to treat adults with moderate to severe addiction to opioid drugs.

"First, despite continued pressure from limited access to health care providers our teams demonstrated resilience and agility to deliver a strong operating performance, including 90% year-on-year growth in Sublocade injection through the first nine months of the year. Our continued progress across the business gives us sufficient visibility to reinstate guidance," Chief Executie Mark Crossley said.

Indivior said its 2020 revenue is expected to be between USD565 million and USD620 million, down by 21% to 28% from USD785 million achieved a year prior.

Crossley said: "Our strong operational performance, decisive actions aligned to our strategic priorities along with our continued financial discipline give us confidence that when the Covid-19 pandemic begins to subside we will be well-positioned to deliver accelerated growth and realise our patient-focused vision."

Indivior shares were up 2.5% at 108.76 pence each in London on Thursday.

By Greg Roxburgh; [e-mail]

[waldron] 29/10/2020 15:49

Michele Maatouk
Sharecast News
29 Oct, 2020 13:52 29 Oct, 2020 13:52
Indivior Q3 profit, revenue decline; new FY guidance outlined


Indivior reported a decline in third-quarter revenue and operating profit on Thursday but reinstated financial guidance as it said it expects to be profitable on an adjusted pre-tax basis for FY 2020.


Operating profit fell 68% from the third quarter of last year to $18m, with revenue down 20% to $159m.

The opioid addiction treatment maker said it saw a rapid decline in new patient enrolments in the second quarter due to the Covid-19 pandemic, with a modest improvement in Q3, although it does not expect a significant impact on the long-term growth potential of either Sublocade or Perseris.

"The pandemic has resulted in overall fewer patient visits to healthcare provider offices for non-Covid-19 reasons or essential treatments, as patients become unable or unwilling to make visits due to overburdened healthcare systems or elect to have remote consultations (telehealth) with their providers," it said.

Despite the still-uncertain impact of the pandemic on its business, Indivior provided new financial guidance for the year based trends observed through mid-October. The company said it expects to be profitable on an adjusted pre-tax basis for FY 2020.

Net revenue is expected to come in between $595m and $620m. This assumes only a gradual erosion of Suboxone Film share over the rest of the year. Sublocade net revenue is expected at between $120m and $125m, while Perseris revenue is seen at $12m to $15m.

[gregmorg] 29/10/2020 11:30

Well the group seems to be making the right noises and has reinstated full year guidance and projecting the chances of decent revenues in 2020/1 and a return to profit. Good cash balances and margin projection also encouraging. Overall, quite optimistic further out but maybe more on that with the full year results.

We still need the Court sign off on 12 November of the agreement with the DOJ although the company believes that with all parties signed up, it is likely to be a formality! Hope the judge agrees! .The company presentation was cautiously upbeat overall but obviously it needs the pandemic crisis to ease-- as do we all. !
I am okay with this.

[steeplejack] 28/10/2020 15:26

Interesting relative strength ahead of tomorrow's update.I presume the news might thus be encouraging but how the shares will respond in these frenetic times is anyone's bet.

[meijiman] 23/10/2020 09:28

At least he avoided the electric chair........

[la forge] 23/10/2020 08:59

Oliver Haill

08:23 Fri 23 Oct 2020


Indivior ex-CEO sentenced to jail in the US over misleading safety claims

The US state attorney said Shaun Thaxter had “failed to prevent efforts to build profits through misleading safety claims, which led to millions of dollars in ill-gotten gains for Indivior”


Indivior PLC’s (LON:INDV) former chief executive Shaun Thaxter has been sentenced to a prison term in the US for misrepresentations regarding the safety of the company’s main drug.

A US Federal Court committed Thaxter to six months in prison and ordered penalties of US$0.6mln to be paid in fines and forfeiture.

As CEO of Indivior, whose main product, Suboxone Film, is designed to help recovering opioid addicts avoid or reduce withdrawal symptoms, Thaxter “failed to prevent efforts to build profits through misleading safety claims, which led to millions of dollars in ill-gotten gains for Indivior”, the US Attorney Daniel P Bubar said.

Indivior earlier this year agreed to pay US$600mln to resolve liability to the US related to the marketing of Suboxone, following a US$1.4bn similar payment from former parent Reckitt Benckiser Group PLC (LON:RB.) last year.

Thaxter, who was in charge of Indivior from 2009 until June this year, on Thursday pleaded guilty to one misdemeanor count under the Responsible Corporate Officer Doctrine.

Indivior put out a statement on Friday to point out that the plea agreement between Thaxter and the US Department of Justice “is in his personal capacity and not on behalf of Indivior”.

It noted that its separate agreement with the US government in connection with the US$600mln payment from July 24, “remains unchanged”.



However, it still remains subject to approval by a federal judge, with a hearing having been scheduled for November 12.




Proactiveinvestors

[la forge] 23/10/2020 08:54

Iain Gilbert
Sharecast News
23 Oct, 2020 08:26
Former Indivior CEO sentenced in US Federal Court

Pharmaceutical firm Indivior revealed on Friday that former chief executive Shaun Thaxter had been sentenced in United States Federal Court.

Indivior highlighted that the agreement between the Department of Justice and Thaxter, who pleaded guilty to one misdemeanour count under the Responsible Corporate Officer Doctrine, was in his personal capacity and not on behalf of the company.

The FTSE 250-listed firm added that the agreement between itself and the government was still subject to approval by a federal judge at a hearing currently scheduled for 12 November.

"As previously noted, the incident to which the agreement relates occurred well in the past and does not reflect the values Indivior has strived to demonstrate during its long history of fighting the opioid crisis," added Indivior.

As of 0830 BST, Indivior shares were up 0.20% at 100.40p.

[la forge] 23/10/2020 08:25

RNS Number : 9911C

Indivior PLC

23 October 2020

US Court Sentencing of Former CEO

Slough, United Kingdom and Richmond, Virginia - October 23, 2020 - Indivior PLC (LON: INDV) notes that Shaun Thaxter, its former Chief Executive Officer, was sentenced in United States Federal Court yesterday after pleading guilty to one misdemeanor count under the Responsible Corporate Officer Doctrine.

As the Group has previously noted, the plea agreement between Mr. Thaxter and the United States Department of Justice is in his personal capacity and not on behalf of Indivior. The separate agreement between the Group and the government that was announced on July 24 remains unchanged and is subject to approval by a federal judge at a hearing currently scheduled for November 12.

As previously noted, the incident to which the agreement relates occurred well in the past and does not reflect the values Indivior has strived to demonstrate during its long history of fighting the opioid crisis.

[waldron] 19/10/2020 18:27

Upcoming events on INDIVIOR

October/29/2020 Q3 2020 Earnings Release

[adrian j boris] 19/10/2020 03:20

Indivior PLC (LON: INDV) today announced that it will release its 2020 year-to-date and third quarter results on Thursday, October 29th at 11:00 London time (7:00 a.m. U.S. Eastern). The results will be available via the London Stock Exchange's Regulatory News Service (RNS) and on the "Investors" section of the Company's website at www.indivior.com

[waldron] 16/10/2020 00:38

15 October 2020

Indivior to Announce 2020 Year-to-Date and Q3 Results October 29th

Slough, UK, and Richmond, VA, 15 October 2020 - Indivior PLC (LON: INDV) today announced that it will release its 2020 year-to-date and third quarter results on Thursday, October 29th at 11:00 London time (7:00 a.m. U.S. Eastern). The results will be available via the London Stock Exchange's Regulatory News Service (RNS) and on the "Investors" section of the Company's website at www.indivior.com .

Key members of Indivior's leadership team led by Mark Crossley, Chief Executive Officer, will host a conference call to discuss the results and address questions from qualified analysts and investors at 12:00 London time (8:00 a.m. U.S. Eastern) on October 29th.

Access the Live Results Webcast October 29th

The webcast event will be available on the "Investors" section of the Company's website at www.indivior.com . The webcast link is hxxps://edge.media-server.com/mmc/p/py8oqyrx . Participants also may access the results presentation telephonically: US participants [phone]; international participants [phone]. Please reference confirmation number 6570529. A replay of the presentation will be available at www.indivior.com .

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 .

[timmy11] 15/10/2020 15:17

standard life must be down to 5 per cent