Supernus Pharmaceuticals, Inc. and Indivior Pharmaceuticals, Inc. have completed their previously announced business combination, creating a new entity named Supernus, Inc. The merger was effective at 8:18 a.m. Eastern Time on November 2, 2026. Under the terms of the Agreement and Plan of Merger, Merger Sub merged with and into Supernus, with Supernus continuing as the surviving corporation and becoming a wholly owned subsidiary of Indivior. Following the closing, Indivior was renamed Supernus, Inc.
The transaction involved the issuance of 1.5401 shares of Indivior common stock for each share of Supernus common stock held by stockholders. As a result of the merger, former Indivior stockholders own approximately 56.5% of the combined company on a fully diluted basis, while former Supernus stockholders own approximately 43.5%. Supernus Pharmaceuticals, Inc. common stock ceased to be listed on Nasdaq.
In connection with the merger, the Combined Company and its subsidiaries entered into a Credit Agreement with Citibank, N.A. as agent. The facility provides a senior secured term loan facility in the aggregate principal amount of $650,000,000, which was fully drawn on the closing date. The proceeds are intended to finance the special cash dividend of $1.0 billion paid to former Indivior stockholders, as well as to refinance existing indebtedness and cover merger-related fees and expenses.
Jack Khattar, the current President and CEO of Supernus, will serve as the President, Chief Executive Officer, and a member of the Board of Directors of the combined company. Tony Kingsley, previously a member of Indivior’s Board of Directors, will serve as Board Chair. The combined company’s Board of Directors consists of eight directors, including four from each legacy company. The combined company’s headquarters will remain in Rockville, Maryland.
