MergerAug 3, 2026, 06:47 AM
Indivior and Supernus to Merge, Forming $2.2B CNS Biopharma Leader
AI Summary
Indivior Pharmaceuticals, Inc. and Supernus Pharmaceuticals, Inc. announced an all-stock merger, creating a diversified CNS biopharmaceutical leader named Supernus, Inc. The combined entity is expected to have $2.2 billion in annual revenues and achieve $125 million in annual cost synergies. Indivior stockholders will own approximately 56.5% of the combined company, and Supernus stockholders will own 43.5%. Indivior will also declare a $1 billion special cash dividend, financed in part by a $650 million term loan.
Key Highlights
- Indivior Pharmaceuticals and Supernus Pharmaceuticals to merge in an all-stock transaction.
- Combined company, named Supernus, Inc., is expected to have $2.2 billion in pro forma annual revenues.
- The merger is anticipated to generate $125 million in annual cost synergies.
- Indivior stockholders will own approximately 56.5% and Supernus stockholders 43.5% of the combined company.
- Indivior will declare a $1 billion special cash dividend prior to the merger's effective time.
- The special dividend will be partially financed by a $650 million senior secured term loan from Citibank, N.A.
- Jack Khattar, current Supernus CEO, will serve as President and CEO of the combined company.
- Supernus equity awards (RSUs, PSUs, Options) will convert into Indivior equity awards based on the exchange ratio.
Price Impact
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