Rockville, Maryland-based Supernus Pharmaceuticals (Nasdaq: SUPN) and Richmond, Virginia-based Indivior Pharmaceuticals (Nasdaq: INDV) have agreed to merge in a tax-free all-stock transaction, creating a diversified CNS biopharmaceutical company combining addiction medicine, psychiatry and neurology franchises with approximately USD 2.2 billion in pro forma annual revenue. The combined entity will retain the Supernus name and trade on Nasdaq under the ticker SUPN, with Supernus's current president and chief executive officer Jack Khattar leading the company and Indivior board member Tony Kingsley serving as board chair.
The companies expect USD 125 million in annual cost synergies, with closing targeted for Q4 2026, subject to shareholder and regulatory approvals.
The commercial rationale centers on two anchor franchises. Indivior's primary revenue driver is SUBLOCADE (buprenorphine extended-release injection), a once-monthly subcutaneous partial µ-opioid receptor agonist for moderate-to-severe opioid use disorder (OUD), which generated USD 856 million in fiscal year 2025 net revenue after 13% year-on-year growth. Supernus contributes Qelbree (viloxazine extended-release capsules), a selective norepinephrine reuptake inhibitor approved for attention-deficit hyperactivity disorder (ADHD) in patients aged six and older, which has accumulated approximately 3 million prescriptions since its 2021 launch. Supernus also recently launched ONAPGO (apomorphine hydrochloride subcutaneous infusion), a dopamine receptor agonist for Parkinson's disease motor fluctuations, which recorded USD 8.9 million in net sales in Q4 2025 and is identified by the companies as a key near-term growth asset.