Barnes & Noble to Be Acquired by Elliott, Owner of Waterstones, Bringing Together the Leading Booksellers in the US and the UK
Reading Time: 9 minutes
All-cash acquisition of $6.50 per share delivers a significant premium
for all shareholders
Transaction concludes Barnes & Noble strategic alternative review
Elliott to pursue growth strategy at Barnes & Noble, empowering local
stores across the US, while benefitting from international scale
NEW YORK & LONDON–(BUSINESS WIRE)–Barnes & Noble, Inc. (NYSE:BKS, “Barnes & Noble”) announces today that
it has entered into a definitive agreement to be acquired by funds
advised by Elliott Advisors (UK) Limited (“Elliott”) for $6.50 per share
in an all-cash transaction valued at approximately $683 million,
including the assumption of debt.
Elliott’s acquisition of Barnes & Noble, the largest retail bookseller
in the United States, follows its June 2018 acquisition of Waterstones,
the largest retail bookseller in the United Kingdom. James Daunt, CEO of
Waterstones, will assume also the role of CEO of Barnes & Noble
following the completion of the transaction and will be based in New
York.
The $6.50 per share purchase price represents a 43% premium to the
10-day volume weighted average closing share price of Barnes & Noble’s
common stock ended June 5, 2019, the day before rumors of a potential
transaction were reported in the media.
The announced transaction with Elliott is the culmination of an
extensive Strategic Alternative Review conducted by the Special
Committee of the Barnes & Noble Board of Directors, which was announced
on October 3, 2018. The Board of Directors of Barnes & Noble unanimously
approved the transaction and recommend the transaction to Barnes & Noble
shareholders. Leonard Riggio, the Founder and Chairman of Barnes &
Noble, has also entered into a voting agreement in support of the
transaction.
Barnes & Noble serves 627 different communities across all 50 states,
where it remains the #1 bookseller in the United States. Elliott seeks
to build upon this strong foundation as it addresses the significant
challenges facing the bricks and mortar book retail space, applying a
model that successfully turned around Waterstones over the past decade.
Following the close of the transaction, Elliott will own both Barnes &
Noble and Waterstones, and while each bookseller will operate
independently, they will share a common CEO and benefit from the sharing
of best practice between the companies. Waterstones has successfully
restored itself to sales growth and sustainable profitability, based on
a strategy of investment in their store estate and the empowerment of
local bookselling teams. Under Daunt’s leadership and Elliott’s
stewardship, this commitment to bookselling excellence will strengthen
the ability of both companies to navigate with success a rapidly
changing retail landscape.
With respect to today’s announcement, Leonard Riggio, Founder and
Chairman of Barnes & Noble, stated, “We are pleased to have reached this
agreement with Elliott, the owner of Waterstones, a bookseller I have
admired over the years. In view of the success they have had in the
bookselling marketplace, I believe they are uniquely suited to improve
and grow our company for many years ahead. I am also confident that
James Daunt has the leadership ability and experience necessary to lead
this great organization. I will do everything I can to help him make the
transition smooth. Having been the leader of Barnes & Noble for 54
years, I have had the privilege of working with the very best people in
all the world of bookselling, including our great store managers and
booksellers, who work in our stores. It is they who have made Barnes &
Noble the #1 most reputable retailer in America. My profound thanks, as
well, to the entire publishing world, with whom we have shared a great
relationship over the years, and the many suppliers who have provided
vital services. Finally, to our tens of millions of wonderful customers
and Members, it has been a privilege to serve them.”
In anticipation of his new CEO role at Barnes & Noble, James Daunt
added, “I look forward greatly to working with the booksellers at Barnes
& Noble. Physical bookstores the world over face fearsome challenges
from online and digital. We meet these with investment and with all the
more confidence for being able to draw on the unrivalled bookselling
skills of these two great companies. As a place in which to choose a
book, and for the sheer pleasure of visiting, we know that a good
bookstore has no equal. I thank Mr. Riggio for his confidence, and I am
grateful to Elliott for their commitment to support the continued
transformation at Waterstones, and now also the same at Barnes & Noble.”
Paul Best, Portfolio Manager and Head of European Private Equity at
Elliott, added, “Our investment in Barnes & Noble, following our
investment last year in Waterstones, demonstrates our conviction that
readers continue to value the experience of a great bookstore. We would
like to acknowledge the contributions of Founder and Chairman Leonard
Riggio and his team for creating the leading bookstore company in the
United States. We look forward to working with James Daunt and the
Barnes & Noble community of readers, members and booksellers as they
start an exciting new chapter.”
The transaction is subject to customary closing conditions, including
the receipt of regulatory and stockholder approval, and is expected to
close in the third quarter of 2019. The merger agreement provides for
the acquisition to be consummated through a merger structure. However,
the parties expect to amend the agreement to utilize a tender offer
structure, which is expected to reduce the time to closing by a number
of weeks.
Dividend
Barnes & Noble also announced that it has declared a quarterly cash
dividend of $0.15 per share, payable on August 2, 2019 to stockholders
of record at the close of business on July 5, 2019.
Fiscal 2019 Year-End Earnings Announcement
Barnes & Noble separately announced that it will be reporting its fiscal
2019 fourth quarter and year-end financial results on June 19, 2019.
Advisors
Evercore is acting as financial advisor and Baker Botts L.L.P. is acting
as legal advisor to the Special Committee of Barnes & Noble and
Guggenheim Securities LLC is acting as financial advisor and Paul,
Weiss, Rifkind, Wharton & Garrison LLP is acting as legal advisor to the
Board of Directors of Barnes & Noble. Credit Suisse Securities L.L.C. is
acting as financial advisor and Debevoise & Plimpton LLP is acting as
legal advisor to Elliott.
About Elliott
Elliott Management Corporation manages two multi-strategy funds which
combined have approximately $34 billion of assets under management. Its
flagship fund, Elliott Associates, L.P., was founded in 1977, making it
one of the oldest funds of its kind under continuous management. The
Elliott funds’ investors include pension plans, sovereign wealth funds,
endowments, foundations, funds-of-funds, and employees of the firm.
Elliott Advisors (UK) Limited is an affiliate of Elliott Management
Corporation.
About Barnes & Noble, Inc.
Barnes & Noble, Inc. (NYSE:BKS) is the nation’s largest retail
bookseller, and a leading retailer of content, digital media and
educational products. The Company operates 627 Barnes & Noble bookstores
in 50 states, and one of the Web’s premier e-commerce sites, BN.com (www.bn.com).
The Nook Digital business offers a line-up of popular NOOK® tablets and
eReaders and an expansive collection of digital reading and
entertainment content through the NOOK Store®. The NOOK Store (www.nook.com)
features digital books, periodicals and comics, and offers the ability
to enjoy content across a wide array of popular devices through Free
NOOK Reading Apps
available for Android, iOS® and Windows®. General
information on Barnes & Noble, Inc. can be obtained by visiting the
Company’s corporate website at www.barnesandnobleinc.com.
About Waterstones
Waterstones is the UK and Ireland’s leading high street
bookseller with 293 bookshops, including Foyles, Hatchards, Hodges
Figgis and branches in Ireland, Brussels and Amsterdam. It is the only
national specialist book retailer of scale in the UK, and operates also
through the e-commerce site, Waterstones.com.
Caution Regarding Forward-Looking Statements
This communication contains certain forward-looking statements (within
the meaning of Section 27A of the Securities Act of 1933, as amended,
and Section 21E of the Securities Exchange Act of 1934, as amended) that
are based on the beliefs of the Company’s management, as well as
assumptions made by, and information currently available to, the
Company’s management. When used in this communication, the words
“anticipate,” “believe,” “estimate,” “expect,” “intend,” “plan,” “will,”
“forecasts,” “projections,” or other words or phrases of similar import
or future or conditional verbs such as will, may, might, should, would,
could, or similar variations, identify forward-looking statements. These
include statements relating to the financial and operational impact of
the proposed transaction, the benefits of the proposed transaction, the
expected timing of completion of the proposed transaction, as well as
other statements that are not historical facts. These statements reflect
only the Company’s current expectations and are not guarantees of future
performance or results. Forward-looking information involves risks,
uncertainties and other factors that could cause actual results to
differ materially from those expressed or implied in, or reasonably
inferred from, such statements. These factors include, among others, the
timing, receipt and terms and conditions of any required governmental
and regulatory approvals of the proposed transaction; the occurrence of
any event, change or other circumstances that could give rise to the
termination of the Merger Agreement; the inability to complete the
proposed transaction in a timely manner or at all; the possibility that
stockholders may not adopt the Merger Agreement; risks regarding the
failure of Parent to obtain the necessary financing to complete the
Merger; the risk of any unexpected costs or expenses resulting from the
proposed transaction, the risk of any litigation relating to the
proposed transaction, the risk that the proposed transaction and its
announcement could have an adverse effect on the Company’s ability to
retain customers and retain and hire key personnel and maintain
relationships with its suppliers, customers and other business
relationships; risks related to disruption of management’s attention
from the Company’s ongoing business operations due to the transaction;
the effect of the announcement of the proposed transaction on the
Company’s stock, operating results and business generally; and the risk
of stockholder litigation in connection with the proposed transaction.
All such factors are difficult to predict and are beyond the Company’s
control. Additional factors that could cause results to differ
materially from those described above can be found in the Company’s most
recent Annual Report on Form 10-K, as it may be updated from time to
time by quarterly reports on Form 10-Q and current reports on Form 8-K
all of which are available on the Company’s website at http://investors.barnesandnobleinc.com/sec-filings
and on the SEC’s website at http://www.sec.gov.
Therefore, caution should be taken not to place undue reliance on any
such forward-looking statements. These forward-looking statements speak
only as of the date of this communication, and the Company expressly
disclaims any obligation or undertaking to disseminate any updates or
revisions to any forward-looking statement contained herein to reflect
any change in its expectations with regard thereto or any change in
events, conditions or circumstances on which any such statement is based.
Additional Information and Where to Find It
This communication does not constitute an offer to sell or the
solicitation of an offer to buy our securities or the solicitation of
any vote or approval. The proposed Merger of the Company will be
submitted to the Company’s stockholders for their consideration. In
connection with the proposed transaction, the Company intends to file a
proxy statement and other relevant materials with the SEC in connection
with the solicitation of proxies in connection with the proposed
transaction. The definitive proxy statement will be mailed to the
Company’s stockholders. BEFORE MAKING ANY VOTING OR INVESTMENT DECISION
WITH RESPECT TO THE PROPOSED TRANSACTION, INVESTORS AND STOCKHOLDERS OF
THE COMPANY ARE URGED TO READ THE DEFINITIVE PROXY STATEMENT REGARDING
THE PROPOSED TRANSACTION (INCLUDING ANY AMENDMENTS OR SUPPLEMENTS
THERETO) AND OTHER RELEVANT MATERIALS CAREFULLY AND IN THEIR ENTIRETY
WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT
INFORMATION ABOUT THE PROPOSED TRANSACTION. The proxy statement, any
amendments or supplements thereto and other relevant materials, and any
other documents filed by the Company with the SEC, may be obtained once
such documents are filed with the SEC free of charge at the SEC’s
website at www.sec.gov.
Copies of the filings together with the materials incorporated by
reference therein will also be available, without charge, on the
Company’s corporate website at www.barnesandnobleinc.com
under “Investor Relations” – “SEC Filings.”
The Merger Agreement may be amended in order to effect the acquisition
of the Company through a tender offer, though no tender offer for the
outstanding shares of the Company has commenced. This communication is
for informational purposes only and is neither a recommendation, an
offer to purchase nor a solicitation of an offer to sell shares. It is
not a substitute for the tender offer materials that the offeror would
file with the SEC upon commencement of the tender offer, if the parties
amend the Merger Agreement in order to effect the acquisition of the
Company through a tender offer. At the time the tender offer is
commenced, if the parties so amend the Merger Agreement, the offeror
will file tender offer materials on Schedule TO, and the Company
thereafter will file a Solicitation/Recommendation Statement on Schedule
14D-9 with the SEC with respect to the tender offer. IF THE MERGER
AGREEMENT IS SO AMENDED, THE TENDER OFFER MATERIALS (INCLUDING AN OFFER
TO PURCHASE, A RELATED LETTER OF TRANSMITTAL AND CERTAIN OTHER TENDER
OFFER DOCUMENTS) AND THE SOLICITATION/RECOMMENDATION STATEMENT WILL
CONTAIN IMPORTANT INFORMATION. HOLDERS OF SHARES OF COMMON STOCK OF THE
COMPANY ARE URGED TO READ ANY SUCH DOCUMENTS CAREFULLY IN THEIR
ENTIRETY, AS EACH MAY BE AMENDED OR SUPPLEMENTED FROM TIME TO TIME, AS
WELL AS ANY OTHER RELEVANT DOCUMENTS FILED WITH THE SEC, WHEN THEY
BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION THAT
HOLDERS OF SHARES OF COMMON STOCK OF THE COMPANY SHOULD CONSIDER BEFORE
MAKING ANY DECISION REGARDING TENDERING THEIR SHARES. If the Merger
Agreement is amended to contemplate a tender offer as described above,
the Offer to Purchase, the related Letter of Transmittal and certain
other tender offer documents, as well as the Solicitation/Recommendation
Statement, will be made available to all holders of shares of common
stock of the Company at no expense to them. The tender offer materials,
the Solicitation/Recommendation Statement and other related documents
(when available) would be made available for free at the SEC’s website
at www.sec.gov
or by directing a request to the Information Agent for the tender offer
who would be named by the offeror in the tender offer materials.
Participants in the Solicitation
The Company, directors, executive officers, other members of management
and employees of the Company may, under the rules of the SEC, be deemed
to be “participants” in the solicitation of proxies from the Company’s
stockholders in connection with the proposed transaction. Information
regarding the persons who may be considered “participants” in the
solicitation of proxies will be set forth in the Company’s preliminary
and definitive proxy statements when filed with the SEC and other
relevant documents to be filed with the SEC in connection with the
proposed transaction, each of which can be obtained free of charge from
the sources indicated above when they become available. Information
regarding certain of these persons and their beneficial ownership of the
Company’s common stock is also set forth in the Company’s definitive
proxy statement for the Company’s 2018 annual meeting of stockholders,
which was filed with the SEC on August 24, 2018.
Contacts
Barnes & Noble
Media
Mary Ellen Keating
Senior Vice President
Corporate
Communications
Barnes & Noble, Inc.
+1 (212)
633-3323
[email protected]
Investors
Andy Milevoj
Vice President
Corporate
Finance and Investor Relations
Barnes & Noble, Inc.
+1
(212) 633-3489
[email protected]
Elliott
London
Sarah Rajani CFA
Elliott Advisors (UK)
Limited
+44 (0) 20 3009 1475
[email protected]
New York
Stephen Spruiell
Elliott Management
Corporation
+1 (212) 478 2017
[email protected]
TORONTO and GLIL YAM, Israel, Sept. 11, 2024 /PRNewswire/ — IM Cannabis Corp. (“IMC” or the “Company“) (NASDAQ: IMCC) (CSE: IMCC), a leading medical cannabis company with operations in Israel and Germany, is pleased to announce that Mr. Shmulik Arbel has been appointed to the Company’s board of directors (the “Board“) effective September 9, 2024. Mr. Arbel brings a wealth of experience in strategic plans that drive profitability, as well as, finance and corporate governance, further strengthening the company’s commitment to driving growth while focusing on sustainable profitability.
“We are thrilled to welcome Shmulik to our Board of Directors,” said Oren Shuster, Chief Executive Officer of IM Cannabis. “Shmulik’s extensive international experience at Leumi, coupled with his proven track record in banking and finance will be invaluable as we continue to deliver on our strategic initiatives.”
Mr. Arbel retired as Deputy CEO from Leumi, Israel’s largest banking group, in April 2023, where he was instrumental in business growth and leading the service revolution. With over 25 years of experience at Leumi, Arbel has held senior roles throughout the organization, such as head of retail banking, head of the corporate division, and as chairman of Leumi UK. With key roles in Israel, New York and London, Mr. Arbel has a wide view on international business.
“I am honored to join the Board of Directors at IMCC,” said Mr. Arbel. “I look forward to leveraging my experience in banking and finance, providing guidance as IMCC continues to establish itself as the go-to brand in the cannabis world. I look forward to contributing to the company’s growth.”
Arbel holds a BA and MBA from Tel Aviv University.
About IM Cannabis Corp.
IMC (Nasdaq: IMCC) (CSE: IMCC) is an international cannabis company that provides premium cannabis products to medical patients in Israel and Germany, two of the largest medical cannabis markets. The Company has focused its resources to achieve sustainable and profitable growth in its highest value markets, Israel and Germany. The Company leverages a transnational ecosystem powered by a unique data-driven approach and a globally sourced product supply chain. With an unwavering commitment to responsible growth and compliance with the strictest regulatory environments, the Company strives to amplify its commercial and brand power to become a global high-quality cannabis player.
The IMC ecosystem operates in Israel through its commercial relationship with Focus Medical Herbs Ltd., which imports and distributes cannabis to medical patients, leveraging years of proprietary data and patient insights. The Company also operates medical cannabis retail pharmacies, online platforms, distribution centers, and logistical hubs in Israel that enable the safe delivery and quality control of IMC products throughout the entire value chain. In Germany, the IMC ecosystem operates through Adjupharm GmbH, where it distributes cannabis to pharmacies for medical cannabis patients.
Disclaimer for Forward-Looking Statements
This press release contains forward-looking information or forward-looking statements under applicable Canadian and United States securities laws (collectively, “forward-looking statements“). All information that addresses activities or developments that we expect to occur in the future are forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as “seek”, “anticipate”, “believe”, “plan”, “estimate”, “expect”, “likely” and “intend” and statements that an event or result “may”, “will”, “should”, “could” or “might” occur or be achieved and other similar expressions. Forward-looking statements are based on the estimates and opinions of management on the date the statements are made. In the press release, such forward-looking statements include, but are not limited to, statements relating to: the stated benefits Mr. Arbel’s appointment, including the further strengthening the Company’s commitment to driving growth in the German market while focusing on sustainable profitability; and Mr. Arbel’s international experience and track record in banking and finance will be invaluable to the Company.
Forward-looking statements are based on assumptions that may prove to be incorrect, including but not limited to: the Company’s ability to realize upon the stated benefits Mr. Arbel’s appointment; and Mr. Arbel’s international experience and track record in banking and finance becoming invaluable to the Company.
The above lists of forward-looking statements and assumptions are not exhaustive. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated or implied by such forward-looking statements due to a number of factors and risks. These include: the failure of the Company to comply with applicable regulatory requirements in a highly regulated industry; unexpected changes in governmental policies and regulations in the jurisdictions in which the Company operates; the Company’s ability to continue to meet the listing requirements of the Canadian Securities Exchange and the NASDAQ Capital Market; any unexpected failure to maintain in good standing or renew its licenses; the ability of the Company and its subsidiaries (collectively, the “Group“) to deliver on their sales commitments or growth objectives; the reliance of the Group on third-party supply agreements to provide sufficient quantities of medical cannabis to fulfil the Group’s obligations; the Group’s possible exposure to liability, the perceived level of risk related thereto, and the anticipated results of any litigation or other similar disputes or legal proceedings involving the Group; the impact of increasing competition; any lack of merger and acquisition opportunities; adverse market conditions; the inherent uncertainty of production quantities, qualities and cost estimates and the potential for unexpected costs and expenses; risks of product liability and other safety-related liability from the usage of the Group’s cannabis products; supply chain constraints; reliance on key personnel; the risk of defaulting on existing debt; risks surrounding war, conflict and civil unrest in Eastern Europe and the Middle East, including the impact of the Israel-Hamas war on the Company, its operations and the medical cannabis industry in Israel; risks associated with the Company focusing on the Israel and Germany markets; the inability of the Company to achieve sustainable profitability and/or increase shareholder value; the inability of the Company to actively manage costs and/or improve margins; the inability of the company to grow and/or maintain sales; the inability of the Company to meet its goals and/or strategic plans; the inability of the Company to reduce costs and/or maintain revenues; the Company’s inability to take advantage of the legalization of medicinal cannabis in Germany; and the Company’s inability to realize upon the stated benefits Mr. Arbel’s appointment; and Mr. Arbel’s international experience and track record in banking and finance not becoming valuable to the Company.
Please see the other risks, uncertainties and factors set out under the heading “Risk Factors” in the Company’s annual report dated March 28, 2024, which is available on the Company’s issuer profile on SEDAR+ at www.sedarplus.ca and Edgar at www.sec.gov/edgar. Any forward-looking statement included in this press release is made as of the date of this press release and is based on the beliefs, estimates, expectations and opinions of management on the date such forward looking information is made. The Company does not undertake any obligation to update forward-looking statements except as required by applicable securities laws. Investors should not place undue reliance on forward-looking statements. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement.
Company Contact:
Anna Taranko, Director Investor & Public Relations
IM Cannabis Corp.
+49 157 80554338
[email protected]
Oren Shuster, CEO
IM Cannabis Corp.
[email protected]
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Indivior
Indivior Provides Update on Aelis Farma’s Clinical Phase 2B Study Results with AEF0117 in Participants with Cannabis Use Disorder
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (EU) 596/2014 (AS IT FORMS PART OF DOMESTIC LAW IN THE UK BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018).
- Primary and Secondary End Points of the Study were Not Met
- Indivior Does Not Currently Expect to Exercise AEF0117 Option
SLOUGH, United Kingdom and RICHMOND, Va., Sept. 4, 2024 /PRNewswire/ — Indivior PLC (Nasdaq/LSE: INDV) is today providing an update following Aelis Farma’s announcement of the results from its clinical Phase 2B trial with AEF01171, evaluating the efficacy and safety in treatment-seeking participants with moderate to severe Cannabis Use Disorder (CUD). The purpose of this trial was twofold: (1) to show that AEF0117 (0.1, 0.3, 1 mg once a day for 12 weeks) lowers cannabis use and (2) to determine the endpoints and optimal dosage of AEF0117 for use in future studies. In this phase 2B study, patients were treatment-seeking participants, 84% of whom had severe CUD.
The results of the study demonstrated that the primary endpoint, the proportion of participants who reduced their cannabis use to ≤1 day per week, as well as secondary endpoints measuring the proportion of participants reaching either complete abstinence or who used ≤2 day per week, were not met. Although these results are disappointing, they indicate that significant work remains to be done to understand subpopulations of patients with CUD, specifically those with severe CUD.
This clinical Phase 2B study is part of the strategic collaboration between Aelis Farma and Indivior, which includes an exclusive option for Indivior to license the global rights to AEF0117. Given the lack of separation from placebo on primary and secondary endpoints and before seeing further additional favorable clinical data, Indivior does not currently expect to exercise its option.
Important Cautionary Note Regarding Forward-Looking Statements
This news release contains certain statements that are forward-looking. Forward-looking statements include, among other things, express and implied statements regarding whether: we will be able to ultimately demonstrate the safety and efficacy of AEF0117, which is a prerequisite to filing any New Drug Application; we might ever exercise our option for AEF0117 and, if so, when; and other statements containing the words “believe,” “anticipate,” “plan,” “expect,” “intend,” “estimate,” “forecast,” “strategy,” “target,” “guidance,” “outlook,” “potential,” “project,” “priority,” “may,” “will,” “should,” “would,” “could,” “can,” “outlook,” “guidance,” the negatives thereof, and variations thereon and similar expressions. By their nature, forward-looking statements involve risks and uncertainties as they relate to events or circumstances that may or may not occur in the future.
Actual results may differ materially from those because they relate to future events. Various factors may cause differences between Indivior’s expectations and actual results, including, among others, the risks described in our most recent annual report on Form 20-F beginning on page 9 as filed with the U.S. SEC and in subsequent releases; legal and market restrictions that may limit how quickly we can repurchaser our shares; the substantial litigation and ongoing investigations to which we are or may become a party; our reliance on third parties to manufacture commercial supplies of most of our products, conduct our clinical trials and at times to collaborate on products in our pipeline; our ability to comply with legal and regulatory settlements, healthcare laws and regulations, requirements imposed by regulatory agencies and payment and reporting obligations under government pricing programs; risks related to the manufacture and distribution of our products, most of which contain controlled substances; market acceptance of our products as well as our ability to commercialize our products and compete with other market participants; competition; the uncertainties related to the development of new products, including through acquisitions, and the related regulatory approval process; our dependence on third-party payors for the reimbursement of our products and the increasing focus on pricing and competition in our industry; unintended side effects caused by the clinical study or commercial use of our products; our ability to successfully execute acquisitions, partnerships, joint ventures, dispositions or other strategic acquisitions; our ability to protect our intellectual property rights and the substantial cost of litigation or other proceedings related to intellectual property rights; the risks related to product liability claims or product recalls; the significant amount of laws and regulations that we are subject to, including due to the international nature of our business; macroeconomic trends and other global developments such as armed conflicts and pandemics; the terms of our debt instruments, changes in our credit ratings and our ability to service our indebtedness and other obligations as they come due; changes in applicable tax rate or tax rules, regulations or interpretations and our ability to realize our deferred tax assets; and volatility in our share price due to factors unrelated to our operating performance or that may result from the potential move of our primary listing to the U.S.
Forward-looking statements speak only as of the date that they are made and should be regarded solely as our current plans, estimates and beliefs. Except as required by law, we do not undertake and specifically decline any obligation to update, republish or revise forward-looking statements to reflect future events or circumstances or to reflect the occurrences of unanticipated events.
This release is being made by Kathryn Hudson, Company Secretary Indivior PLC.
About Indivior
Indivior is a global pharmaceutical company working to help change patients’ lives by developing medicines to treat substance use disorders (SUD), overdose and serious mental illnesses. Our vision is that all patients around the world will have access to evidence-based treatment for the chronic conditions and co-occurring disorders of SUD. Indivior is dedicated to transforming SUD from a global human crisis to a recognized and treated chronic disease.
Building on its global portfolio of OUD treatments, Indivior has a pipeline of product candidates designed to both expand on its heritage in this category and potentially address other chronic conditions and co-occurring disorders of SUD. Headquartered in the United States in Richmond, VA, Indivior employs over 1,000 individuals globally and its portfolio of products is available in over 30 countries worldwide. Visit www.indivior.com to learn more. Connect with Indivior on LinkedIn by visiting www.linkedin.com/company/indivior.
References:
- National Library of Medicine (U.S.) (2022, April). Effect of AEF0117 on treatment-seeking patients with cannabis use disorder (CUD) (SICA2). Identifier
NCT05322941 https://www.clinicaltrials.gov/study/NCT05322941
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