UK-based drug company Indivior said it would pay $145m for Opiant Pharmaceuticals which produces treatments to overcome opioid addiction.
The price equates to $20 a share, with an extra $8 per share contingent on Opiant’s ability to gain approvals and revenue for an overdose-reversal medication in late-stage development.
Opiant contributed to the development of the formulation of Narcan nasal spray, a treatment to reverse opioid overdose. It is also developing potential treatments for alcohol drinking and cravings acute cannabinoid overdose.
The US government has pledged $1.5bn to treat its growing the overdose crisis and billions from lawsuit settlements against pharmaceutical companies that made the opioids have begun flowing to local governments to combat deaths.
Reporting by Frank Prenesti for Sharecast.com
