Supernus Pharmaceuticals, Inc. and Indivior Pharmaceuticals, Inc. have officially completed their merger, launching Supernus, Inc., a diversified biopharmaceutical company focused on central nervous system (CNS) diseases.

The combined entity will begin trading on the Nasdaq Global Market under the ticker symbol "SUPN" on November 3, 2026. The announcement was made on November 2, 2026, from the company's headquarters in Rockville, Md.

Merger Expands Supernus CNS Portfolio and Development Pipeline

According to the companies, the merger positions Supernus as a leading diversified CNS biopharmaceutical company with a broad portfolio of marketed medicines, enhanced financial flexibility, and a differentiated pipeline.

The combination is described as significantly enhancing the company's cash flow profile and scale, unlocking greater capacity to resource growth-driving products, advance the CNS pipeline, and pursue strategic opportunities.

Transformative Milestone, Say Company Leaders

"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," he added.

Tony Kingsley, Chair of the Board of Directors of Supernus, Inc., said the combination brings together best-in-class commercial capabilities, leading CNS therapies, and a strong financial foundation.

"We believe the combined company is exceptionally well positioned to pursue long-term growth while maintaining disciplined capital allocation and a commitment to creating shareholder value," Kingsley said.

An Eleven-Product Portfolio With Five Growth Drivers

The combined company's commercial platform consists of an 11-product portfolio spanning opioid use disorder, psychiatry, and neurology.

The portfolio includes five core growth drivers, SUBLOCADE, Qelbree, GOCOVRI, ONAPGO, and ZURZUVAE, which the company says provide a durable foundation for long-term revenue expansion.

The commercial portfolio includes approved treatments designed to support individuals navigating opioid use disorder (OUD), attention-deficit hyperactivity disorder (ADHD), dyskinesia in Parkinson's disease for those receiving levodopa-based therapy, hypomobility in Parkinson's disease, postpartum depression, epilepsy, migraine, cervical dystonia, and chronic sialorrhea.

The company states it is committed to continuous innovation and advancing a robust pipeline of novel product candidates to deliver outcomes for CNS patients.

The companies also cited established financial scale and enhanced cash flow, providing the capacity to pursue further growth opportunities, including driving growth in the commercial portfolio, advancing the novel pipeline, and pursuing future business.

Transaction Terms and Financing

Under the terms of the definitive merger agreement, Supernus Pharmaceuticals stockholders received 1.5401 common shares of Indivior Pharmaceuticals for each share of Supernus Pharmaceuticals they owned.

Stockholders of Indivior immediately prior to the closing will receive a one-time special cash dividend of USD 1 billion in the aggregate, as previously announced.

To finance the dividend, the companies utilized a previously secured debt commitment of USD 650 million through a term loan facility provided by Citibank N.A., with the remaining portion funded by existing cash on hand of the combined company.

Upon the close of the transaction, former Indivior stockholders own approximately 56.5% of the combined company, while former Supernus Pharmaceuticals stockholders own approximately 43.5%, on a fully diluted basis.

Leadership and Governance Structure

Supernus Pharmaceuticals' current headquarters in Rockville, Md., will serve as the combined company's global headquarters. Jack Khattar will serve as 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 has a total of eight directors, including four directors from each of the legacy companies.

Advisors to the Transaction

Cantor Fitzgerald & Co. served as lead financial advisor to Supernus Pharmaceuticals, with Wells Fargo also serving as an additional financial advisor. Saul Ewing LLP served as legal counsel to Supernus Pharmaceuticals, and Morgan Lewis UK served as legal advisors with respect to certain ex-US matters.

Jefferies LLC and Piper Sandler & Co. served as joint financial advisors to Indivior, and Goodwin Procter LLP served as legal counsel to Indivior. Citi also provided financial advice to Indivior, and Citibank, N.A., provided committed financing in support of the transaction.

Additional information about the transaction can be found on the Supernus website.

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