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Shares of Opiant Prescribed drugs Inc.
OPNT,
soared 120.8% in premarket investing on Monday immediately after the company, which is most effective recognized for promoting the opioid overdose treatment method Narcan, said it will be acquired by Indivior PLC
INDV,
for $145 million. The offer also features additional potential milestone payments tied to income for a even now investigational opioid overdose treatment method. Opiant options to comprehensive the submission to the Food items and Drug Administration for that drug by the close of the year. Indivior’s upfront payment of $20.00 per share is a quality of 111% to Opiant’s closing share cost of $9.50 on Friday. The boards at both equally providers have permitted the offer, which is anticipated to close in the initially three months of upcoming calendar year. Opiant’s inventory has tumbled 71.7% so far this 12 months, when the S&P 500
SPX,
is down 16.2%.
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