(Alliance News) - Indivior PLC has announced on Monday the expiration of the waiting period relating to its USD145 million purchase of Opiant Pharmaceuticals Inc.
The expiration of the waiting period was a condition to the closing of the transaction. Now, completion of the acquisition is subject to the remaining customary closing conditions, including approval by Opiant stockholders and the receipt of remaining applicable regulatory approvals.
Indivior announced its purchase of Opiant, which is a biopharmaceutical company developing treatments for addiction and drug overdose, in November 2022.
The pharmaceutical firm will USD20.00 per share in cash for Opiant and will pay an additional USD8.00 per share in contingent value rights if certain revenue milestones are achieved.
Shares in Indivior were up 0.9% at 1,942.00 pence on Monday in London.
By Jeremy Cutler, Alliance News reporter
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Indivior (INDV)