(Alliance News) - Indivior PLC on Friday clarified that the US sentencing of former chief executive Shaun Thaxter for one misdemeanor count is not related to the company.
Shares in the opioid treatment maker were up 0.3% at 100.50 pence each on Friday in London.
Thaxter, who quit as Indivior's boss in July, was sentenced in a US Federal Court on Thursday after pleading guilty to one misdemeanor charge that he caused the company to misrepresent the safety of opioid treatment Suboxone Film in submissions to Massachusetts' Medicaid programme.
The misrepresentations led to the drug being prescribed to patients with children under six-years-old.
Indivior on Friday said: "As the group has previously noted, the plea agreement between Mr Thaxter and the US Department of Justice is in his personal capacity and not on behalf of Indivior. The separate agreement between the group and the government that was announced on July 24 remains unchanged and is subject to approval by a federal judge at a hearing currently scheduled for November 12.
"As previously noted, the incident to which the agreement relates occurred well in the past and does not reflect the values Indivior has strived to demonstrate during its long history of fighting the opioid crisis."
Indivior in July had agreed to pay USD600 million to settle the liabilities over the misrepresentation of the medicine.
By Tapan Panchal; tapanpanchal@alliancenews.com
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Indivior (INDV)