Target $18
Thursday, July 11, 2019
U.S. reaches next opioid settlement for $1.4B
Reckitt Benckiser (OTCPK:RBGLY) has agreed to pay up to $1.4B to resolveall U.S. federal investigations into the sales and marketing of an opioid addiction treatment, called Suboxone Film, by its former pharmaceuticals subsidiary Indivior (OTCPK:INVVY).
“$1.4B is materially larger than the $400M RB had previously provisioned and represents about 2% of its market cap. On the other hand, this settlement removes some uncertainty from the investment case,” Credit Suisse analyst Alan Erskine said.
Reckitt shares advanced 2.5% in London on the news.
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