(Alliance News) - Indivior PLC and one-time parent Reckitt Benckiser Group PLC were handed a legal victory on Tuesday after the High Court of Justice of England & Wales dismissed a lawsuit related to alleged false marketing of an opioid addiction treatment.
Wirral Council, on behalf of Merseyside Pension fund, looked to bring a representative claim, alleging that Indivior made "misleading or dishonest statements" related to Suboxone-braded products.
"After hearing two days of argument in November 2023, the High Court on December 5 issued a judgment granting Indivior's and Reckitt Benckiser's applications to strike out the representative proceedings," Richmond, Virginia-based pharmaceutical firm Indivior said.
Indivior noted Wirral may seek the green light to appeal the court decision.
Back in October, Indivior said it has reached an agreement to settle a US multi-district Suboxone litigation case, forking out USD385 million in the process.
The litigation was centred on the claim that the pharmaceutical company stymied generic competition for the opioid addiction treatment Suboxone, in order to preserve its dominance.
The settlement marked the end of the multi-district litigation, once approved by the United States District Court for the Eastern District of Pennsylvania.
Indivior was formerly part of Reckitt Benckiser Group PLC, before being spun out in late 2014.
Indivior's share price was down 4.6% at 1,258.00 pence each in London on Tuesday afternoon. Reckitt fell 0.8% to 5,408.00p.
By Hugh Cameron, Alliance News reporter
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