Supernus Pharmaceuticals and Indivior are combining in an all-stock merger of equals, creating a mid-sized drugmaker focused entirely on the brain and central nervous system (CNS).
Announced August 3, 2026, the deal gives Supernus shareholders 1.54 Indivior shares for each share they hold, leaving Indivior holders with about 56.5% of the combined company and Supernus holders roughly 43.5%. Before closing, Indivior will pay a one-time $1 billion special dividend, funded partly by $650 million in new debt. The merged company will keep the Supernus, Inc. name, trade on Nasdaq as SUPN, and be based in Rockville, Maryland. It is expected to close in the fourth quarter of 2026.
What each side brings
Supernus (2025 revenue $718.9 million) markets treatments for ADHD, Parkinson’s, and depression, including Qelbree for ADHD and, via its 2025 Sage Therapeutics purchase, Zurzuvae for postpartum depression. Indivior (2025 revenue $1.2 billion) is a leader in opioid use disorder, with the long-acting injectable Sublocade and the film Suboxone.
The combined company
Together they will have 11 marketed drugs, roughly $2.2 billion in trailing 12-month revenue, and about $888 million in pro forma annual earnings after a targeted $125 million in yearly cost savings. Supernus CEO Jack Khattar — who will lead the combined firm, with Indivior’s Tony Kingsley as board chair — called it “the ideal time” to build “a very powerful combination that otherwise would not exist.”