Indivior Share Discussion Threads

[sarkasm] 28/11/2020 04:19

certainly not

its a hurricane and tsunami

which should have been expected

very fishy

have a pleasant weekend but take care


dealy
27 Nov '20 - 20:14 - 3060 of 3061
0 1 0
You think it's a storm in a tea cup?

[dealy] 27/11/2020 20:14

You think it's a storm in a tea cup?

[dealy] 27/11/2020 20:10

Thanks for posting this. Best case indivior will have a settlement sum to pay plus a ton of legal fees. Worst case the current Indivior shareholders will be paying RBs indemnification costs and penalties.Either way I can't see the shares being over a pound again for a long time

[sarkasm] 27/11/2020 19:43

ALL IN THE PLANNING

BEING DONE WITHIN THE 6 YEARS

PERHAPS STATUTE BARRED IF LUCKY

[sarkasm] 27/11/2020 19:42

THE GUARDIAN

Reckitt Benckiser
Indivior shares plunge at the start of £1bn opioid claims lawsuit

Former parent company Reckitt Benckiser sues firm over marketing of its Suboxone Film drug
Suboxone Film drug
Last year the US justice department charged Indivior over claims Suboxone Film was better than similar drugs during the opioids crisis. Photograph: Spencer Platt/Getty Images
Simon Goodley
Fri 27 Nov 2020 17.26 GMT

Last modified on Fri 27 Nov 2020 19.07 GMT

2

Shares in Indivior plunged on Friday after the pharmaceuticals firm revealed it had been hit by the beginnings of a £1bn opioid legal claim, which is worth more than the entire value of the drugmaker.

The move, brought to the high court by Indivior’s former parent company Reckitt Benckiser (RB), relates to the smaller company’s marketing of its Suboxone Film drug, which became embroiled last year in the US opioid crisis when a string of companies were accused of aggressive sales tactics which led to addiction and death.

In April of last year the US justice department charged Indivior with fraudulently claiming Suboxone Film was better and safer than similar drugs. The company, owned by Reckitt until 2014, also referred patients to doctors it knew to be prescribing opioids in a careless manner, the indictment said.

RB agreed to pay a $1.4bn (£1.1bn) fine to settle the case in July 2019, without any admission of wrongdoing, while earlier this year Indivior said it had “pleaded guilty to one count of making a false statement relating to healthcare matters in 2012” and that it would “make payments to federal and state authorities totalling $600m over a period of seven years”.

The latest legal move is understood to be a procedural step, as RB must commence any claim against Indivior within six years of the date of the demerger. It is thought that RB now has four months to file a formal claim and that settlement negotiations are ongoing.

The increase in addiction to opioids has become a recurring issue in politics in the US and the UK in recent years, prompting intense scrutiny of pharmaceutical firms. The US president, Donald Trump, declared the opioids crisis a public health emergency in 2017.

Shares in Indivior slumped by around 40% to 85p on Friday afternoon, before regaining some ground to be down 20% at 100p, which means the firm is now valued by the stock market at around £735m. The shares had been changing hands at more than 480p as recently as the spring of 2018.

Indivior said a statement to the stock exchange that the claim related to “an indemnity contained in the Demerger Agreement entered into between RB and the Company on November 17, 2014. The amount claimed under the submission is £1,073,622,580.51221;.

The statement continued: “The claim has not been served on [Indivior] and the company does not have any further details at this time. The company will assess with its advisers the background and merits to the case and will provide an update in due course.”

[dealy] 27/11/2020 19:32

in fact, I'm calling the authorities on Monday about this shambles. This is exactly why the possibility exists to temporarily suspend trading of the shares

[buywell3] 27/11/2020 18:57

Clever RB to wait before acting

[dealy] 27/11/2020 18:06

stock should have ben suspended today, pending clarification. absolute shambles

[dealy] 27/11/2020 18:04

nobody thought about informing Indivior.For it to be withdrawn willy nilly would also raise a lot of questions.

[the stigologist] 27/11/2020 17:58

I'm just wondering if this is just kayfabe ?



Basically RB and INDV just make a big show of fighting but its to claim from their Insurers or the Advisers who advised on the deals ?

Deffo got to be some method to the madness.

[dealy] 27/11/2020 17:37

it almost looks like they put in the claim as a matter of duty (duty to RB shareholders). Probably will be negotiated down but who knows

[waldron] 27/11/2020 15:55

the motely fool




Why did the Indivior share price crash 40% on Friday?

Alan Oscroft | Friday, 27th November, 2020 |


Drug manufacturer Indivior (LSE: INDV) had been soaring in 2020. In fact, as of market close Thursday, the Indivior share price had more than trebled so far this year. But that came to a crunching halt Friday with a whopping 40% crash. Indivior is still ahead more than 100% year-to-date, but what’s happened?

Indivior was spun out of Reckitt Benckiser in 2014. And news emerged Friday that its parent has filed a $1bn lawsuit against it. The claim was, apparently, filed on 13 November. It involves an indemnity agreement between the two companies, signed at the time of their parting.

5G is here – and shares of this ‘sleeping giant’ could be a great way for you to potentially profit!

According to one leading industry firm, the 5G boom could create a global industry worth US$12.3 TRILLION out of thin air…

And if you click here we’ll show you something that could be key to unlocking 5G’s full potential...

In its announcement, Indivior said: “The claim has not been served on the company and the company does not have any further details at this time. The company will assess with its advisors the background and merits to the case and will provide an update in due course.“
More legal pressure for Indivior

So we don’t have the details yet. But it’s telling that Indivior has been facing lawsuits related to its opioid dependency treatment Suboxone. The opioid dependency scandal is huge in the US. But it had seemed the matter was resolved after a previous US court case.

On 13 November, Indivior told us that “a United States federal court in the Western District of Virginia has approved the agreement between the group and the U.S. Department of Justice and other government agencies that was announced on July 24. The court has also dismissed all charges that were returned by a grand jury in April 2019.”

The company added that it “is pleased to put this matter behind it and move forward in a manner that provides certainty to its business.” That certainty has now been shattered.
Thought it was all over?

As part of the earlier agreement, Indivior had to pay $600m. Prior to that, in October, former CEO Shaun Thaxter had received a six-month jail sentence on charges relating to misrepresentation of the safety of Suboxone. Reckitt Benckiser had had to stump up $1,4bn to try to put it all behind it. And if that wasn’t enough, Indivior has been trying to fight off generic competitors who claim its patent has expired.

That’s quite a story for a FTSE 250 company that, by Friday afternoon at least, has still seen its share price double in 2020. But what now?
A tense wait

Well, we’ll clearly need to wait and find out the details of the Reckitt Benckiser lawsuit. And how nice of Indivior to release the news on a Friday, to give investors time to stew over the weekend with no real hope of further information.

Perhaps obviously, I wouldn’t buy now. But I generally wouldn’t invest in a company that’s been facing big legal problems anyway. And definitely not one connected with the US opioid dependency drama.

[jamesretlaw] 27/11/2020 15:21

Possible remerger

[dealy] 27/11/2020 15:10

strong recovery from lows. not a repeat of last year

[waldron] 27/11/2020 15:05

An indemnity clause hidden in the small print at THE time of the IPO back in 2014


YOU LEGALS OUT THERE

Could it be classed out of date or invalid for any other reason as not clearly pointed out to potential shareholders


present management could be excused for the oversight perhaps

the saga continues

[the stigologist] 27/11/2020 14:28

INDV could sure do with some positive newsflow for a change ?

Maybe on a potential new blockbuster drug in the pipeline

Apropos of nothing the INDV2000 C4X3256 trial study completes December 1st

[the stigologist] 27/11/2020 14:22

Who would do business with a Company like RB that tries to kill its own 'children'

Talk about low business ethics FFS

In any event I doubt this is a terminal blow. Taking on the DoJ is a much tougher battle. This will take years to resolve in the Courts

AND should be covered by Insurance ?

INDV didn't admit any criminal responsibility themselves in DoJ settlement right ? The CEO took the rap ?

[waldron] 27/11/2020 13:46

tend to agree



dealy
27 Nov '20 - 13:42 - 3043 of 3043
0 1 0
the way that is written it sounds like this claim should have been expected

[dealy] 27/11/2020 13:42

the way that is written it sounds like this claim should have been expected

[waldron] 27/11/2020 13:30

In the FTSE 250, Indivior was the worst performer, down 45% after the drugmaker said Reckitt Benckiser has submitted a GBP1.07 billion claim to the Commercial Court in London, pursuant to an indemnity from the demerger of Indivior from Reckitt in 2014. Reckitt shares were down 1.0%.

[csmwssk12hu] 27/11/2020 12:58

Reading the 9 month results I’m shocked these even went up, the US litigation is far from over once the DOJ are finished, it could go on for years bleeding the company, maybe that’s RandB plan, effectively force administration and take it back legal free

[babbler] 27/11/2020 12:51

Traders in for the small bounce

[steeplejack] 27/11/2020 12:35

Why would they wish to kill the company off?That wouldn't get them the £1bn would it?So RB floats off its pharmaceutical division and then post settlements with the D of J strangles it's own creation.Hardly makes sense does it.Actually,this company makes quite useful and valuable products.