Reckitt pays up to $1.4B to solve opioid treatment probe [Business News Network (BNN) Energy & Resources (Canada)]
RECKITT BENCKISR GP S/ADR (RBGLY)
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Source: Business News Network
Reckitt pays up to $1.4B to solve opioid treatment probe Reckitt Benckiser Group Plc (RBGLY.PK) reached agreements to resolve the investigation into the sales and marketing of a treatment for opioid addition by Indivior Plc, spun off five years ago. Reckitt agreed to pay as much as US$1.4 billion to resolve the U.S. Department of Justice and the Federal Trade Commission probes, the maker of Durex condoms and Lysol cleaning products said in a statement on Thursday. The settlement avoids “the costs, uncertainty and distraction associated with continued investigations,” Reckitt said, even though the company denies any wrongdoing. U.S. prosecutors argue that the marketing of the addiction treatment deceived doctors about its dangers, contributing to a deadly epidemic of opioid abuse. Most of the events under investigation took place before Indivior split from its former parent at the end of 2014. The settlement amount will be funded through existing borrowing facilities and cash generatio
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