Supernus and Indivior to merge, forming $2.2B CNS drug company
What's the deal? Supernus Pharmaceuticals and IndiviorDealroom has a profile for this one. Try Dealroom → have agreed to combine in a tax-free, all-stock merger of equals, creating a diversified central nervous system (CNS) biopharmaceutical company. The combined entity will be named Supernus, Inc. and trade on Nasdaq under the ticker "SUPN".
Who runs it? Jack Khattar, Supernus' president and chief executive officer, will lead the combined company as president and chief executive officer. Tony Kingsley, an Indivior board member, will serve as board chair.
What each does: Both companies develop CNS medicines. Together they will hold a portfolio of 11 differentiated products across psychiatry, neurology, and addiction, with key growth products expected to keep expanding into the 2030s.
The numbers: The combined company expects pro forma net revenue of $2.2 billion and pro forma adjusted EBITDA of $888 million. The deal targets $125 million in annual cost synergies.
What's the endgame? The merged group aims for a stronger balance sheet, with net debt of roughly $878 million and a net leverage ratio below 1x. That gives it room to invest in current products, advance Supernus' pipeline, and pursue acquisitions.
Why now? Indivior chief executive officer Joe Ciaffoni framed the deal as the finish line for its restructuring plan. "After the closing of the proposed merger, all three phases of the Indivior Action Agenda will have been successfully completed," he said.
The signal: The tie-up reflects continued consolidation among mid-sized biopharma firms seeking scale to fund growth. By pooling commercial teams and cash flow, the pair is betting that size, not standalone specialisation, wins in CNS treatment.
Read more: GlobeNewswire
Image credit: Generated with Gemini
