INDIVIOR, a US pharmaceutical heavyweight, has bought addiction and overdose treatment rival Opiant Pharmaceuticals for $145m (£123m), the firm announced yesterday.

The FTSE 250 pharma firm is coughing up some $20.00 per share in cash upfront, plus a further $8.00 a piece should revenue milestones be achieved over the next seven years, Indivior said in a statement yesterday.

Both boards have unanimously approved the takeover, which will strengthen Indivior's addiction treatment division.

The pair will target the addiction market in the US, where overdose deaths are at a near record high, Indivior CEO Mark Crossley said.

While the deal has secured a green light from the board, the transaction awaits the approval of shareholders, as well as clearance by US antitrust officials.

Opiant's overdose rescue treatment OPNT003, used for synthetic opioids such as fentanyl, is expected to have the potential for an annual net revenue of between $150m (£127m) and $250m (£212m), according to Indivior.

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