Supernus Pharmaceuticals and Indivior completed their merger, bringing their central nervous system treatments into a combined company called Supernus. Former Indivior shareholders hold the larger ownership share. The transaction includes a special cash dividend financed through debt and existing cash, with the combined company based at Supernus’s headquarters in Rockville, Maryland.
Each former Supernus share was exchanged for 1.5401 Indivior common shares. On a fully diluted basis, former Indivior holders own approximately 56.5 per cent of the combined company and former Supernus holders 43.5 per cent. Indivior shareholders immediately before completion are to receive a special cash dividend totalling 1 billion dollars, funded with a 650 million dollar Citibank term loan and existing cash.[1]
Jack Khattar leads the combined business as president and chief executive, while Tony Kingsley chairs the board. The eight-member board has four directors from each predecessor. The commercial portfolio contains eleven products spanning opioid use disorder, psychiatry and neurology. The company’s existing treatments cover conditions including epilepsy, migraine and Parkinson’s disease, bringing the two predecessors’ commercial capabilities into the new structure.[1]
