SUPN Stock Hub: Supernus (formerly Indivior) News, SUBLOCADE and Merger Integration

SUPN stock at a glance (formerly INDV)

Where Supernus (formerly Indivior) stands now

Indivior completed its all-stock merger with Supernus Pharmaceuticals on November 2, 2026 and was renamed Supernus, Inc.; the company’s November 3 Form 8-K lists its common stock on Nasdaq under the symbol SUPN, in place of INDV. Supernus Pharmaceuticals is now a wholly owned subsidiary, and the combined company drew a new $650 million senior secured term loan at closing. Jack Khattar, previously chief executive of Supernus Pharmaceuticals, is President and CEO; Tony Kingsley, formerly an Indivior director, chairs a board of eight, four from each legacy company. Headquarters are in Rockville, Maryland. Former Indivior holders own about 56.5% of the combined company on a fully diluted basis. The pivotal, higher-risk and pragmatic clinical studies address different treatment questions. The financial data below are for standalone Indivior before the merger; cash generation, liabilities and the new financing determine the broader financial outcome. Primary source · Completion release, November 2, 2026

Latest Indivior Pharmaceuticals news

SUPN (formerly INDV) stock catalysts and company milestones

• On or about November 6, 2026 · special dividend payment (anticipated) — The September filing anticipated payment of the $8.13 per share special dividend to October 30 record holders on or about November 6 if closing occurred on November 2. The November 2 Form 8-K does not state the payment date. Anticipated; not restated in the closing filing
• November 3, 2026 · SUPN symbol and convertible-note adjustment — The Form 8-K filed that day lists the common stock on Nasdaq under SUPN and reports that, as a result of the special dividend declared on September 16, the conversion rate of the 0.625% Convertible Senior Notes due 2031 increased from 24.0033 to 30.9355 shares per $1,000 principal amount, a conversion price of about $32.33 per share; no bondholders converted their notes into common stock. Completed
• November 2, 2026 · merger completed — Effective 8:18 a.m. ET; Supernus Pharmaceuticals became a wholly owned subsidiary, Indivior was renamed Supernus, Inc., Jack Khattar became President and CEO, and the $650 million term loan was borrowed in full. Completed

Form 8-K, November 3, 2026 · Form 8-K, November 2, 2026 · Third-quarter release, October 29, 2026

Identity: SUPN (formerly INDV) is the U.S. common share

The issuer, a Delaware corporation formerly named Indivior Pharmaceuticals, Inc., was renamed Supernus, Inc. on November 2, 2026; its common stock traded on Nasdaq under INDV, and the company’s November 3 Form 8-K lists it under SUPN. The January 2026 domestication replaced the former U.K. ordinary shares with common shares of the U.S. successor on a one-for-one basis. The change became effective after the January 23 market close, with U.S. common-share trading beginning January 26.

The security distinction matters for every per-share amount in the transaction. The September filing declares the special dividend per Indivior common share. No depositary ratio applies: the stock, now listed as SUPN and formerly as INDV, is a U.S. common share, not an ADS.

Primary source

Financial performance: strong operating improvement, defined reporting perimeter

Update, October 29, 2026: for the third quarter of 2026 Indivior reported total net revenue of $356 million, GAAP operating income of $180 million, GAAP net income of $137 million and adjusted EBITDA of $211 million; for the nine months, total net revenue was $1,016 million. The paragraphs below describe the second quarter and first half of 2026.

Indivior's second-quarter 2026 net revenue was $343 million versus $302 million a year earlier. Gross profit increased to $294 million from $250 million, operating income to $160 million from $72 million and net income to $122 million from $18 million. For the first half, revenue was $660 million, operating income $297 million and net income $211 million. SUBLOCADE net revenue was $253 million in the quarter, up 21% year over year. With the results, Indivior raised its full-year 2026 guidance: total net revenue to $1.295–$1.365 billion from $1.215–$1.285 billion, SUBLOCADE net revenue to $1.010–$1.050 billion from $950–$990 million and adjusted EBITDA (a non-GAAP measure) to $700–$740 million from $620–$660 million, with non-GAAP operating expenses unchanged at $430–$450 million. This is standalone company guidance, not a forecast for the combined business ( Q2 2026 release ).

Primary source

Merlintrader Health Score · $SUPN (formerly $INDV)

Assessed October 16, 2026. Weighted calculation: 3.0×30% + 3.5×30% + 2.5×20% + 3.0×10% + 3.5×10% = 3.10. This describes financial and operational robustness over twelve to eighteen months, not an investment recommendation. The scores are from the October 16 assessment, before the merger closed on November 2 and the $650 million term loan was drawn; the pillar texts refer to the data available on that date.

Red flags

• Commercial concentration, reimbursement, unresolved litigation, the new $650 million term loan and integration costs could reduce financial flexibility. The special dividend, which was contingent on the merger closing, changes the resources and obligations behind the continuing shares.
• Potential dilution from the convertible notes: the $500 million of 0.625% Convertible Senior Notes due 2031 now convert at 30.9355 shares per $1,000 principal amount (about $32.33 per share), up from 24.0033 after the special dividend, according to the November 3 Form 8-K. Converting the full principal at the new rate would correspond to about 15.47 million shares, against about 12.00 million at the earlier rate (Merlintrader calculation); no bondholders converted. Form 8-K, November 3, 2026 · principal amount, Form 10-Q
• Company forecasts depend on execution and may change.
• Financial balances retain their stated reporting date; later financing is separate.
• Investment involves possible loss of part or all of the capital.