Goodwin Advises Indivior Pharmaceuticals on Merger With Supernus Pharmaceuticals
The Life Sciences team guided Indivior Pharmaceuticals, Inc. (“Indivior”) (Nasdaq: INDV) in its definitive agreement to combine with Supernus Pharmaceuticals, Inc. (“Supernus”) (Nasdaq: SUPN) in a tax-free, all-stock merger of equals transaction, which closed on November 2, 2026. The transaction is to create a leading diversified, central nervous system (CNS) biopharmaceutical company with significant scale. The combined company, to be named Supernus, Inc. (Nasdaq: SUPN), is expected to have approximately $2.2 billion in combined annual revenue and a diversified portfolio of 11 CNS medicines spanning psychiatry, neurology, and addiction.
Under the terms of the agreement, Supernus stockholders will receive 1.5401 common shares of Indivior for each Supernus share, and Indivior stockholders will receive a one-time special cash dividend of $1.0 billion in the aggregate immediately prior to closing.
Indivior, the leader in long-acting injectable treatments for opioid use disorder (OUD), is singularly focused on delivering evidence-based treatment and advancing understanding of OUD as a chronic but treatable brain disease. For more than 25 years, they have revolutionized the science of addiction medicine, developing treatments that help people move toward long-term recovery with independence and dignity. Building on this heritage, they are ushering in a new era, renewing commitment to individuals living with OUD and carrying forward what matters most: compassion, integrity, and science. Together — with science, people living with OUD, public health champions, and communities — they are powering recovery and renewing hope.
The Goodwin team was led by Rachael Bushey, Jennifer Porter, Stephanie Isaia, Daniel Karelitz, Sarah Bock, Christina Lewis, Arman Oruc, Simone Waterbury, Elliot Silver, Carl Morales, Reid Bagwell, Caroline Bullerjahn, Justin Ward, Julie Tibbets, Elizabeth Mulkey, Justin Pierce, Matt Wetzel, Jacqueline Klosek, Liza Craig, and Jim Barri, and included Alice Choi, Jess Gorski Petti, Andrea Akinbola, Benjamin Rodrigues, Miho Kaneko, Ana Victoria Alvarado, Eram Kahn, Danielle Fong, Vicky Ling, Fiona Aromando, Jennifer Ford, Krupa Zachariah, Dustin Schaefer, Chad Vella, Gozde Guckaya, Kuwabo O’Brien, Shlomo Gottesman, Alexander Vivona, and Maciej Zielnik.
For more information on the deal, please read the press release.