(Sharecast News) – Addiction treatment specialist Indivior announced on Monday that its US subsidiary has entered into an agreement to settle the claims initiated by the end payor class in the ongoing multi-district suboxone antitrust litigation.
The FTSE 250 company said the agreement would resolve the claims filed by the end payor claimants against it, within the scope of the multi-district litigation.
For the agreement to take full effect, it required a preliminary nod from the US District Court for the Eastern District of Pennsylvania, after which there would be a designated notice period.
The agreement also remained contingent on the participation of a suitable number of end payors, and would eventually need the court’s final approval.
Integral to the settlement, Indivior US was projected to disburse $30m to the end payor claimants.
That figure would come from the firm’s previously-earmarked provision of $188m for the multi-district litigation.
Preparations were underway for the settlement amount to be deposited into an escrow account dedicated to the end payor claimants’ benefit by September, using Indivior’s available cash reserves.
Indivior said it was preparing for a trial set for 30 October pertaining to the unresolved claims of the direct purchaser class, although it said it remained open to a settlement there as well.
“We remain focused on helping those suffering from substance use disorders and mental illness,” said chief executive officer Mark Crossley.
“Resolving these legacy legal matters at the right value helps us further our mission for patients and creates greater certainty for our stakeholders.”
Reporting by Josh White for Sharecast.com.