Indivior and Supernus Pharmaceuticals completed their all-stock merger on 2 November 2026, creating Supernus, Inc., a diversified central nervous system biopharmaceutical company.
Why Indivior Pharmaceuticals, Inc. is buying Supernus Pharmaceuticals, Inc.
The companies said the combination brings together commercial capabilities and CNS therapies on a stronger financial base. Reuters reported in August that the group would have about US$2.2bn of annual revenue.
“This combination brings together best-in-class commercial capabilities, leading CNS therapies, and a strong financial foundation.”
Deal terms and financing
Supernus Pharmaceuticals holders received 1.5401 Indivior shares per share. Former Indivior holders own about 56.5% of the combined company. Indivior paid a US$1.0bn special dividend before closing, financed partly by a US$650m term loan from Citibank. InsideArbitrage valued the deal at about US$3.38bn when it was announced.
Regulatory approvals and timing
All conditions have been satisfied and the transaction has closed. The combined company trades on the Nasdaq Global Market as SUPN.
Market context
Jack Khattar, Supernus' chief executive, leads the combined company, and Tony Kingsley, previously an Indivior director, is chair of an eight-member board drawn equally from both companies. The group is headquartered in Rockville, Maryland.
