Indivior Share News (INDV)

(Sharecast News) - Indivior, which makes opioid addiction treatment Suboxone, has entered into an exclusive license agreement with specialty pharmaceutical company HLS Therapeutics for the commercialisation rights to schizophrenia drug Perseris (risperidone) in Canada.Once-monthly Perseris for extended-release injectable suspension has been approved by the US Food and Drug Administration for the treatment of schizophrenia in adults. If approved in Canada, it would be complementary to HLS's product Clorazil (clozapine), which is indicated for the management of treatment-resistant schizophrenia.Indivior's chief executive, Shaun Thaxter, said: "We understand the challenges of patients living with schziophrenia and are pleased that Perseris may become available to Canadian patients through HLS. HLS has an experienced clinical and regulatory team with a strong track record of commercialisation success in Canada, as well as a specialised team dedicated to psychiatry."Under the terms of the agreement, Indivior has granted an exclusive license to HLS to file and commercialise Perseris in Canada. Indivior will provide technical assistance to file the Canadian dossier and will enter into a supply agreement to furnish finished goods to HLS for sale in the territory.Indivior will receive $1m upon signing of the definitive agreement and a near-term payment of $4m contingent upon achieving certain regulatory and pre-commercial milestones. At 1235 BST, Indivior shares were 0.9% higher at 41.50p.