Covington Represents Indivior in Acquisition of Opiant Pharmaceuticals

NEW YORK—Covington advised Indivior PLC in its definitive agreement to acquire Opiant Pharmaceuticals Inc., for an upfront consideration of $20.00 per share, in cash (approximately $145 million in aggregate), plus up to $8.00 per share in contingent value rights that may become payable in the event that certain net revenue milestones are achieved during the relevant seven-year period by OPNT003 after its approval and launch.

Indivior is a global pharmaceutical company working to help change patients' lives by developing medicines to treat addiction and serious mental illnesses.

Opiant is a biopharmaceutical company developing treatments for addiction and drug overdose leveraging intranasal and injectable delivery technologies. Opiant contributed to the development of the formulation of NARCAN® Nasal Spray, a treatment to reverse opioid overdose.

The Covington corporate team included Andrew Ment, Adrienne Bradley, and Andrew Young. Additional lawyers included Jenna Wallace and Sarah Friedman (employment benefits), Jeffrey Lerner (intellectual property), Ansgar Simon (tax), James Dean and James Marshall (antitrust), Jonathan Wakely (international trade), and Andrew Ruffino (litigation).