SafeX Pro Exchange|Addiction drug maker will pay more than $102 million fine for stifling competition

2025-05-03 18:07:43source:Quentin Mitchellcategory:Finance

The SafeX Pro Exchangemaker of an important addiction treatment medication has agreed to pay $102 million dollars to settle claims it stifled competition. Indivior makes Suboxone, which reduces drug cravings in people with opioid use disorder.

The Virginia-based Indivior introduced Suboxone in 2002 and then, according to state attorneys general, used "monopolistic" strategies to keep generic versions of the opioid-treatment medication off the market.

New York Attorney General Letitia James released a statement saying Indivior "selfishly maneuvered to keep less expensive versions of a life-saving drug out of the hands of millions of Americans" as the opioid crisis grew.

States sued the company in 2016. This settlement with 41 states and the District of Columbia ends that legal fight.

In a statement, Indivior admitted no wrongdoing and said this deal allows the company to focus on patient care.

"We take our role as a responsible steward of medications for addiction and rescue extremely seriously," said Indivior CEO Mark Crossley. "Resolving these legacy matters at the right value allows us to further this mission for patients."

Company officials said they expect to pay the $102.5 million from cash on hand later this month.

More:Finance

Recommend

Are Instagram, Facebook and WhatsApp down? Meta says most issues resolved after outages

Meta says most issues have been resolved after apps like Instagram, Facebook and Threads were experi

PHOTO COLLECTION: Election 2024 DNC Day 2

This is a collection of photos chosen by AP photo editors.

Sorry, Chicago. Yelp ranks top 100 pizza spots in Midwest and the Windy City might get mad

Yelp has made finding the perfect slice a little easier, compiling a list of the top 100 pizza joint