Indivior agrees to sell rights to psychotropic drug in China for up to $112.5m

Writer, Stock Market Wire
Monday, February 4, 2019 - 07:13

Indivior said Monday it had entered into an agreement to sell its rights to a psychotropic drug in China to Pukang for a total of up to $122.5m.

Terms of the transaction included a signing payment of $1.5m, $3.5m upon designation of the Sai Bo Song tablet as a Class II psychotropic drug by Chinese regulators, and $12.5m upon closing of the transaction, for a total of $17.5m in near-term payments.

Indivior would also receive an additional $105.0m based on certain technical assistance it provided to Pukang and the achievement of certain sales milestones during a ten-year period following the first commercial sale of the product in China, for a total of up to $122.5m.

The foregoing regulatory hurdles was expected to occur throughout 2019 and the transaction was targeted to close by end of fourth quarter of 2019, the company said.

'The divestiture of the Sai Bo Song tablet in China is consistent with Indivior's efforts to prioritize efforts on the long-term growth opportunities with our new depot assets, SUBLOCADE and PERSERIS,' said Shaun Thaxter, Chief Executive Officer of Indivior.

'This transaction helps us focus our resources on the highest return opportunities in the regions we know best, while ensuring patients in China have access to an important and transformational treatment.'


Related content

Reckitt Benckiser responds to US indictment of Indivior

Reckitt Benckiser Group confirmed that it had set aside a provision for legal costs related to Indivior, a former unit of the company.

Reckitt Benckiser...

Wed, 10/04/2019 - 13:12


Indivior faces series of charges over fraudulent activity in US

Indivior was charged by US authorities over a series of criminal offences including mail, wire and health fraud. The company denied the allegations, citing they...

Wed, 10/04/2019 - 08:03


Indivior presents data to help tackle opioid abuse

Indivior presented data over the weekend to help the healthcare community and others understand the challenges faced by patients with opioid use disorder and potential...

Mon, 08/04/2019 - 07:57


Indivior presents opioid addiction treatment study findings at Florida gathering

Indivior said it had presented data from two studies evaluating efficacy and long-term safety of a once-monthly injection of a treatment of moderate-to-severe opioid use...

Fri, 05/04/2019 - 13:45


Indivior launches injectable schizophrenia treatment in US

Indivior said it had launched in the US a new injectable treatment for schizophrenia.

The once-monthly treatment, Perseris, used an extended-release delivery system to form...

Wed, 27/02/2019 - 13:18