(Alliance News) - Indivior PLC on Monday said it had reviewed the claim Reckitt Bencksier Group PLC filed against it and stated that the claim is "without merit".
Shares in Indivior were up 7.0% at 106.70 pence in London in morning trading, while Reckitt shares were up 1.6% at 6,620.00p.
On Friday, US-based drug maker Indivior announced Reckitt Benckiser had submitted a GBP1.07 billion claim against the company. The claim related to an indemnity contained in the demerger agreement entered into between the two companies in November 2014.
Indivior spun off from consumer health and hygiene firm Reckitt and listed on the London Stock Exchange in December of that year.
Indivior said Monday that: "Based on the information available to it, Indivior strongly believes that the claim is without merit and that it has strong grounds for defending against the claim should it be served."
If the claim is served, Indivior said it will "fully and vigorously" defend itself. The company will make further announcements when appropriate, including whether the claim is served.
By Zoe Wickens; zoewickens@alliancenews.com
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