HomeStock MarketIndivior agrees to pay $385 million to settle last Suboxone monopoly lawsuits,...

Indivior agrees to pay $385 million to settle last Suboxone monopoly lawsuits, says Reuters.

Indivior to Pay $385 Million to Settle Suboxone Monopoly Lawsuits

Indivior Reaches Settlement in Suboxone Monopoly Lawsuits

Indivior, a pharmaceutical company, has agreed to pay $385 million to settle multiple lawsuits in the United States. The lawsuits were brought by drug wholesalers who claimed that Indivior illegally suppressed generic competition for its opioid addiction treatment, Suboxone.

Positive Response from Investors

Following the announcement of the settlement, Indivior’s London-listed shares closed 5% higher. This settlement brings an end to the long-running litigation surrounding Suboxone.

- Advertisement -

Prior Settlements and Lawsuits

Before this settlement, Indivior had already agreed to pay $102.5 million in June to settle related claims by numerous U.S. states. Additionally, in August, the company agreed to pay $30 million to settle a class action lawsuit filed by health plans. These settlements have resolved various legal disputes surrounding Suboxone.

Resolution of Wholesalers’ Claims

A trial that was scheduled for October 30 to address the wholesalers’ claims has now been canceled. The wholesalers represent a class of approximately 70 Suboxone buyers, including other wholesalers and clinics.

Greater Certainty for Indivior Stakeholders

Indivior’s CEO, Mark Crossley, stated that the resolution of this decade-long litigation provides greater certainty for all stakeholders. It is important to note that the company has not admitted liability under this settlement.

- Advertisement -

Next Steps and Approval Process

The settlement is subject to approval by the United States District Court for the Eastern District of Pennsylvania. Indivior expects to pay the $385 million settlement next month.

Background on Suboxone

Suboxone, a treatment for opioid addiction, received U.S. approval in 2002. Indivior held exclusive rights to sell the tablet form of Suboxone until 2009.

Allegations of Monopoly Extension

The lawsuits filed by health plans and drug wholesalers claimed that Indivior switched from the tablet to an oral film version of Suboxone to extend its monopoly. This change came just as generic manufacturers were preparing to sell their own lower-cost pills.

Previous Allegations of Fraudulent Promotion

In 2020, Indivior agreed to pay $600 million to resolve U.S. government allegations of fraudulent promotion of Suboxone. The company had marketed the film version of Suboxone as safer and less prone to abuse than similar drugs.

Opioid Crisis in the United States

Data from the U.S. Centers for Disease Control and Prevention shows that opioid-related drug overdoses have caused the deaths of more than 900,000 people in the United States since 1999. This settlement represents a step towards addressing the ongoing opioid crisis.

Must Read