Pharma BD Deal Intelligence
Supernus Pharmaceuticals and Indivior announced an all-stock merger of equals on August 3, 2026, creating a diversified CNS-focused biopharmaceutical company. Supernus stockholders will receive 1.5401 Indivior shares per Supernus share, valuing Supernus at approximately $61.62 per share (a 38% premium to the prior close) and the transaction at roughly $3.38 billion. Indivior shareholders will receive a one-time aggregate special cash dividend of $1 billion immediately prior to closing, funded in part by a $650 million term loan from Citibank. Indivior shareholders would own approximately 56.5% of the combined company and Supernus shareholders approximately 43.5%. The companies guided to approximately $2.2 billion in combined revenue, $888 million EBITDA and $125 million in annual cost synergies, with closing expected in Q4 2026.
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