Reckitt to pay $1.4 billion to end opioid addiction treatment probes [Reuters (UK)]
INDIVIOR PLC S/ADR (INVVY)
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Source: Reuters
Reckitt to pay $1.4 billion to end opioid addiction treatment probes - Reuters 4 Min Read (Reuters) - Reckitt Benckiser ( RB.L ) has agreed to pay up to $1.4 billion (£1.1 billion) to end U.S. federal investigations into the marketing of an opioid addiction treatment by its former business Indivior, lifting a cloud that has been hanging over the British company for years. While the settlement is significantly higher than the $400 million that the consumer goods group had set aside to cover the cost of the investigations, analysts said it could allow its new chief executive to focus on a turnaround plan. Shares in Reckitt Benckiser (RB), whose products range from Mucinex cold medicine and Lysol cleaners, rose as much as 3.3% in early Thursday trading. “As new CEO Laxman Narasimhan steps in (effective Sept. 1), this clarifies the legal environment for RB and should allow the new management to focus on the RB 2.0 transformation,” JP Morgan analysts wrote in a note. In an effort to rega
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