REG - Indivior PLC - Indivior updates Board Succession Plans

IndiviorAnnouncement

13/10/2022 07:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20221013:nRSM7146Ca&default-theme=true

RNS Number : 7146C  Indivior PLC  13 October 2022

October 13, 2022

 

Indivior updates Board Succession Plans

 

Indivior PLC (the "Company") (LSE: INDV) today announces details of updates to
its Board succession plan.

 

In March 2021, the Board announced details of a comprehensive succession plan,
which was designed to fully align and support Indivior's key strategic
priorities.  A key part of this succession plan was the appointment of
additional Non-Executive Directors to broaden and strengthen the Board's
skills and expertise and to position Indivior for long-term sustainable
growth.  Over the course of the past twenty months, an additional five
Non-Executive Directors have been appointed to the Board; these appointments
have further enhanced the skills, experience and diversity of the Board.

 

Lorna Parker, Daniel J. Phelan and Tom McLellan joined the Board at its
inception in November 2014 and will all reach the end of their nine-year terms
of office in 2023.  To ensure a smooth transition Lorna Parker, Non-Executive
Director, and Daniel J. Phelan, Senior Independent Director and Chair of the
Remuneration Committee, have agreed to remain as Non-Executive Directors until
September 30, 2023.

 

The Board, supported by the Nomination & Governance Committee, is in the
process of identifying the successor(s) for the roles of Senior Independent
Director and Chair of the Remuneration Committee and an announcement in
relation to the successor(s) for these roles will be made in due course.

 

Given Dr. McLellan's specific skill set and extensive background in addiction
sciences, the Board has started a process to replace this expertise on the
Board.   Dr McLellan will continue to serve as a Non-Executive Director
until a replacement has been appointed and a period of transition has been
completed.

 

Graham Hetherington, Chair, said: 'We have added significant additional skills
and experience to the Board over the last two years.  This is critical to
positioning Indivior for its next phase and for delivering long-term
sustainable growth.  We are grateful to Lorna, Dan and Tom for their
continued commitment to supporting the Board through this key transition
period and for ensuring smooth continuity.'

 

About Indivior

Indivior is a global pharmaceutical company working to help change patients'
lives by developing medicines to treat substance use disorders (SUD) 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, including alcohol use disorder and cannabis use disorder. Headquartered
in the United States in Richmond, VA, Indivior employs more than 900
individuals globally and its portfolio of products is available in over 40
countries worldwide. Visit www.indivior.com
(https://nam12.safelinks.protection.outlook.com/?url=http%3A%2F%2Fwww.indivior.com%2F&data=05%7C01%7Cjason.thompson%40Indivior.com%7C229aeec7b17246ed833208da55c46abe%7Cbed52191489442999db948e4fb29646e%7C1%7C0%7C637916599362456007%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C3000%7C%7C%7C&sdata=u6JGYoyD%2BwG914fpSswN7wO0FA4meYgsYi4pnW78lRs%3D&reserved=0)
to learn more. Connect with Indivior on LinkedIn by
visiting www.linkedin.com/company/indivior
(https://nam12.safelinks.protection.outlook.com/?url=http%3A%2F%2Fwww.linkedin.com%2Fcompany%2Findivior&data=05%7C01%7Cjason.thompson%40Indivior.com%7C229aeec7b17246ed833208da55c46abe%7Cbed52191489442999db948e4fb29646e%7C1%7C0%7C637916599362456007%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C3000%7C%7C%7C&sdata=3Frt76TdxC5aWlfbbQay8LOUSNG93zeBJTQoyQOJYIc%3D&reserved=0)
.

 

For Further Information

 

 Jason Thompson  VP, Investor Relations                     +1 804 402 7123

                 Indivior PLC                               jason.thompson@indivior.com
 Tim Owens       Director, Investor Relations Indivior PLC  +1 804 263 3978

                                                            timothy.owens@indivior.com

 

Forward-Looking Statements

This announcement contains certain statements that are forward-looking. 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 expressed or implied
in such statements because they relate to future events. Forward-looking
statements include, among other things, statements regarding the Indivior
Group's financial guidance for 2022 and its medium- and long-term growth
outlook, its operational goals, its product development pipeline, ongoing
litigation and other statements containing the words "subject to", "believe",
"anticipate", "plan", "expect", "intend", "estimate", "potential", "project",
"may", "will", "should", "would", "could", "can", the negatives thereof,
variations thereon and similar expressions.

 

Various factors may cause differences between Indivior's expectations and
actual results, including, among others, the risk factors described in the
most recent Indivior PLC Annual Report and in subsequent releases, and:
factors affecting sales of Indivior Group's products and financial position;
the outcome of research and development activities; decisions by regulatory
authorities regarding the Indivior Group's drug applications or
authorizations; the speed with which regulatory authorizations, pricing
approvals and product launches may be achieved, if at all; the outcome of
post-approval clinical trials; competitive developments; difficulties or
delays in manufacturing and in the supply chain; disruptions in or failure of
information technology systems; the impact of existing and future legislation
and regulatory provisions on product exclusivity; trends toward managed care
and healthcare cost containment; legislation or regulatory action affecting
pharmaceutical product pricing, reimbursement or access; challenges in
commercial execution; claims and concerns that may arise regarding the safety
or efficacy of the Indivior Group's products and product candidates; risks
related to legal proceedings, including the Indivior Group's compliance with
its agreements with the U.S. Department of Justice and with the Office of
Inspector General of the Department of Health and Human Services,
non-compliance with which could result in potential exclusion from
participating in U.S. Federal health care programs; the ongoing investigative
and antitrust litigation matters; the opioid national multi-district
litigation and securities class action litigation; the Indivior Group's
ability to protect its patents and other intellectual property; the outcome of
patent infringement litigation relating to Indivior Group's products,
including the ongoing ANDA lawsuits; changes in governmental laws and
regulations; issues related to the outsourcing of certain operational and
staff functions to third parties; risks related to the evolving COVID-19
pandemic and the potential impact of COVID-19 on the Indivior Group's
operations and financial condition, which cannot be predicted with confidence;
uncertainties related to general economic, political, business, industry,
regulatory and market conditions; and the impact of acquisitions,
divestitures, restructurings, internal reorganizations, product recalls and
withdrawals and other unusual items.

 

Consequently, 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. You should not place undue reliance on forward-looking statements. We
cannot guarantee future results, events, levels of activity, performance, or
achievements. 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.

 

 

-ends-

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  BOAUUOWRUBURAAA