Indivior Says Waiting Period for Opiant Pharmaceuticals Acquisition Expired

Dow Jones2023-02-06

By Anthony O. Goriainoff

Indivior PLC said Monday that the waiting period for the acquisition of Opiant Pharmaceuticals Inc. expired on Feb. 2 under the U.S. Hart-Scott-Rodino Antitrust Improvements Act.

In November, the UK-based pharmaceutical company had agreed to acquire Opiant for $20 a share in cash--or around $145 million--plus up to $8 a share in contingent value rights. The company said it would buy the maker of Narcan--a bestselling overdose-reversal drug--in the deal for a total potential payout of around $203 million.

"Completion of the transaction is subject to the satisfaction of the remaining customary closing conditions, including approval by Opiant stockholders and the receipt of remaining applicable regulatory approvals," the company said.

Shares at 1311 GMT were up 19 pence, or 1%, at 1,944 pence.

Write to Anthony O. Goriainoff at anthony.orunagoriainoff@dowjones.com

(END) Dow Jones Newswires

February 06, 2023 08:42 ET (13:42 GMT)

Copyright (c) 2023 Dow Jones & Company, Inc.

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