A pledge to “vigorously defend” itself against a £1.1 billion legal claim from Reckitt Benckiser helped to arrest a sell-off in Indivior’s shares yesterday. The drugs company that was spun-off by Reckitt, the FTSE 100 consumer goods group, said that it “strongly believes that the claim is without merit and that it has strong grounds for defending should it be served”.
Shares in Indivior slumped by as much as 45 per cent on Friday after it told investors that the claim had been filed in London and was “pursuant to an indemnity contained in the demerger agreement” between the two companies in November 2014. However, the shares rose by 1¼p, or 1.3 per cent, to 101¼p after yesterday’s update.
The claim is understood to relate
