Indivior Completes All-Stock Merger With Supernus

The Tip Desk · November 2, 2026 · 2 min read

The combined CNS biopharmaceutical company will trade as Supernus, Inc. after a $1.0 billion special dividend to former Indivior holders.

Indivior Pharmaceuticals, Inc. (INDV) completed its all-stock merger of equals with Supernus Pharmaceuticals, Inc. (SUPN) on November 2, 2026, creating Supernus, Inc., a diversified central nervous system biopharmaceutical company.

Under the definitive agreement, Supernus Pharmaceuticals stockholders received 1.5401 common shares of Indivior for each Supernus share. On a fully diluted basis, former Indivior stockholders own approximately 56.5% of the combined company and former Supernus stockholders approximately 43.5%.

The companies said the merger positions Supernus as a leading diversified CNS company with a broad portfolio of marketed medicines, enhanced financial flexibility and a differentiated pipeline. The combined commercial platform spans 11 products across opioid use disorder, psychiatry and neurology, including five core growth drivers: SUBLOCADE, Qelbree, GOCOVRI, ONAPGO and ZURZUVAE.

Stockholders of Indivior immediately prior to closing received a one-time special cash dividend of $1.0 billion in the aggregate. The companies used a previously secured $650 million term loan from Citibank N.A. and existing cash on hand of the combined company to fund the payout.

“Today marks a transformative milestone as we officially bring together two organizations united by a shared dedication to those living with complex neurological conditions,” said Jack Khattar, President and CEO of Supernus, Inc. “As one team, we are committed to expanding meaningful treatments for patients, executing seamlessly, and delivering long-term value for our shareholders.”

Tony Kingsley, Chair of the Board of Directors of Supernus, Inc., said the combination brings together commercial capabilities, CNS therapies and a financial foundation, and that the combined company is positioned to pursue long-term growth with disciplined capital allocation.

Supernus Pharmaceuticals’ Rockville, Md., headquarters will serve as the combined company’s global headquarters. Khattar will serve as President, Chief Executive Officer and a board member. Kingsley, previously on Indivior’s board, will serve as Board Chair. The combined board has eight directors, four from each legacy company.

Shareholders of both companies approved the merger on October 15, 2026. Supernus Pharmaceuticals will be delisted from Nasdaq as part of the closing process. Supernus, Inc. is expected to trade on the Nasdaq Global Market under the ticker symbol SUPN on November 3, 2026.