Indivior and Supernus Complete Merger of Equals
Indivior Pharmaceuticals, Inc. and Supernus Pharmaceuticals, Inc. completed a merger of equals on November 2, 2026, according to Indivior’s investor-relations announcement. The business now operates under the name Supernus, Inc.
The combined business has 11 products across neurology, psychiatry and opioid use disorder, according to Supernus’s completion announcement. Indivior said trading in the combined company’s shares on the Nasdaq Global Select Market was scheduled to start on November 3, 2026, using the symbol SUPN.
According to Supernus, the transaction left former Indivior shareholders with approximately 56.5% ownership on a fully diluted basis, compared with approximately 43.5% for former Supernus shareholders. The agreed exchange terms converted each Supernus share into 1.5401 Indivior shares.
A separate cash distribution was set out in Indivior’s notice filed with the SEC on September 17, 2026. According to that notice, the board declared a special dividend totalling $1.0 billion, covering a payment of $8.13 per eligible common share for holders of record on October 30 and amounts associated with certain equity awards.
The notice excluded shares issued as merger consideration to former Supernus shareholders from dividend eligibility. It also specified that the amounts associated with the equity awards would become payable upon vesting of those awards.
For the dividend payment, Indivior’s September notice specified timing after completion of the merger. It anticipated payment around November 6, conditional on a November 2 closing, rather than setting that date as a confirmed payment date.
Supernus said in its completion announcement that financing for the special dividend consisted of a $650 million term loan from Citibank alongside cash already held by the combined company.
* This article is based on publicly available information at the time of writing.