Less Ads, More Data, More Tools Register for FREE

Pin to quick picksRB..L Share News (RB.)

  • There is currently no data for RB.

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

UPDATE 2-Former Indivior CEO pleads guilty in U.S. in opioid addiction treatment probe

Tue, 30th Jun 2020 21:48

(Adds comment from defense lawyer and Indivior)

By Nate Raymond

June 30 (Reuters) - Shaun Thaxter, the former chief
executive of drugmaker Indivior Plc, pleaded guilty on
Tuesday to a criminal charge arising out of a U.S. Justice
Department investigation into the marketing of its opioid
addiction treatment Suboxone.

Thaxter pleaded guilty in federal court in Abingdon,
Virginia to a misdemeanor count of introducing misbranded drugs
into interstate commerce. The plea came a day after Indivior
said he was stepping down as CEO.

Prosecutors said Thaxter failed to prevent employees from
sharing misleading safety information about the drug with
Massachusetts' Medicaid program as it considered expanding
coverage for it.

Wick Sollers, his attorney, said Thaxter was "unaware of the
alleged misstatements when they were made." Thaxter faces up to
one year in prison when he is sentenced on Sept. 29 and has
agreed to pay $600,000 in fines and forfeitures.

The plea came after Indivior in April 2019 was indicted and
charged with engaging in an illegal scheme to boost
prescriptions of Suboxone in one of the few corporate
prosecutions related to the U.S. opioid addiction
epidemic.

Prosecutors alleged Indivior deceived doctors and healthcare
benefit programs into believing the film version of Suboxone,
which has an opioid component, was safer and less susceptible to
abuse than similar drugs.

The indictment said Indivior also used an internet and
telephone program touted as a resource for opioid addicts to
connect them to doctors it knew were prescribing Suboxone and
other opioids at high rates and in suspect circumstances.

Prosecutors said the scheme began before British consumer
goods company Reckitt Benckiser spun off Indivior.
Reckitt Benckiser last year agreed to pay $1.4 billion to
resolved related claims.

Slough, England-based Indivior denies wrongdoing and is
scheduled to face trial in September. Indivior on Tuesday said
it is working to "resolve outstanding investigations and
litigations as expeditiously as possible."
(Reporting by Nate Raymond in Boston
Editing by Chris Reese and Marguerita Choy)

More News
4 Mar 2020 17:05

DIRECTOR DEALINGS SUMMARY: Plus500 Co-Founder Buys GBP4 Million Worth

DIRECTOR DEALINGS SUMMARY: Plus500 Co-Founder Buys GBP4 Million Worth

Read more
4 Mar 2020 17:03

LONDON MARKET CLOSE: Stocks Surge On Hope Of Central Bank Intervention

LONDON MARKET CLOSE: Stocks Surge On Hope Of Central Bank Intervention

Read more
4 Mar 2020 15:17

LIVE MARKETS-Buying some dips: 5 reasons why

* STOXX 600 and FTSE rise over 1%* Exor entered a MoU to sell PartnerRe to Covea Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters. You can share your thoughts with Thyagaraju Adinaraya...

Read more
4 Mar 2020 14:33

Barclays sees opportunities following 'indiscriminate selloff'

(Sharecast News) - Barclays made the case for intermediate-term investors to add certain shares to their portfolios following the recent "indiscriminate" selloff in shares.

Read more
4 Mar 2020 09:34

UPDATE 2-UK stocks enjoy three-day winning streak as investors eye rate cuts

* FTSE 100 rises 1.5%, FTSE 250 0.3%* Consumer staples lead gains* Airlines lag broader rally as virus fears hit travel demand* Mall operator Intu hits record low (Adds FTSE close, news items)By Devik Jain and Noor Zainab HussainMarch 4 (Reuters) -...

Read more
4 Mar 2020 07:37

Moody's Downgrades Reckitt Benckiser's Outlook To Negative From Stable

Moody's Downgrades Reckitt Benckiser's Outlook To Negative From Stable

Read more
3 Mar 2020 09:28

UK BROKER RATINGS SUMMARY: SocGen Cuts Barclays To Hold From Buy

UK BROKER RATINGS SUMMARY: SocGen Cuts Barclays To Hold From Buy

Read more
2 Mar 2020 13:33

Monday broker round-up

(Sharecast News) - Burberry Group: Bank of America upgrades to buy with a target price of 1,800p.

Read more
2 Mar 2020 09:48

UK BROKER RATINGS SUMMARY: BoFA Upgrades Burberry And Rolls-Royce

UK BROKER RATINGS SUMMARY: BoFA Upgrades Burberry And Rolls-Royce

Read more
28 Feb 2020 13:28

Friday broker round-up

(Sharecast News) - McColl's Retail Group: Liberum upgrades to buy with a target price of 45p.

Read more
28 Feb 2020 09:44

UK BROKER RATINGS SUMMARY: Credit Suisse Starts Coverage Of UK Grocers

UK BROKER RATINGS SUMMARY: Credit Suisse Starts Coverage Of UK Grocers

Read more
27 Feb 2020 11:28

UK TOP NEWS SUMMARY: Reckitt Swings To Loss After GBP5 Billion Charge

UK TOP NEWS SUMMARY: Reckitt Swings To Loss After GBP5 Billion Charge

Read more
27 Feb 2020 10:49

UK WINNERS & LOSERS SUMMARY: WPP Down 15% As 2020 Outlook Disappoints

UK WINNERS & LOSERS SUMMARY: WPP Down 15% As 2020 Outlook Disappoints

Read more
27 Feb 2020 09:23

UPDATE 1-London stocks slide further as virus risks spread globally

* FTSE 100 down 1.5%, FTSE 250 slides 1.8%* Miners, airlines, autos lead declines* StanChart slips after warning on virus hit* Tobacco firm BATS gains on strong results (Adds comments, details; updates prices)By Sagarika Jaisinghani and jain DevikFe...

Read more
27 Feb 2020 08:43

LONDON MARKET OPEN: FTSE Drops 175 Points With WPP, Travel Stocks Down

LONDON MARKET OPEN: FTSE Drops 175 Points With WPP, Travel Stocks Down

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.