Reckitt to pay $1.4 billion to end long-running Indivior probes
) has agreed to pay up to $1.4 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.
“As new CEO Laxman Narasimhan steps in , 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. While welcoming the settlement, AJ Bell investment director Russ Mould said the cost could limit new CEO Narasimhan’s ability to undertaken much-needed investment in RB’s brands.INDIVIOR SOARS
“While RB has acted lawfully at all times and expressly denies all allegations that it engaged in any wrongful conduct, after careful consideration, the board of RB determined that the agreement is in the best interests of the company and its shareholders,” RB said in a statement.
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