Indivior Announces Merger with Supernus in $2.2 Billion All-Stock Deal
Indivior and Supernus Pharmaceuticals have announced plans to merge in an all-stock, tax-free transaction expected to close by the end of Q4 2026, pending regulatory approvals and shareholder consent. The combined entity will retain the Supernus name, be headquartered in Maryland, and led by Supernus CEO Jack Khattar. The merger is projected to create a central nervous system (CNS) focused biopharmaceutical company with $2.2 billion in pro forma annual revenue. Indivior's SUBLOCADE injection for opioid use disorder will account for about 44% of the combined revenue, while Supernus' ADHD and depression treatments are expected to contribute significantly as well. The deal is anticipated to generate approximately $125 million in cost synergies within a year post-closing. Indivior also plans to distribute a $1 billion dividend to its pre-merger shareholders before the transaction finalizes.