By Adria Calatayud
Indivior PLC said Monday that it believes a claimed filed by Reckitt Benckiser Group PLC against it is without merit and vowed to fully and vigorously defend itself in any proceedings related to the claim.
The U.K. pharmaceutical company on Friday said a claim for 1.07 billion pounds ($1.42 billion) against it had been submitted to the Commercial Court in London by consumer-goods giant Reckitt Benckiser on Nov. 13. Indivior said the claim relates to an indemnity contained in a 2014 demerger agreement between it and Reckitt Benckiser.
The claim hasn't been served on Indivior at the present time, the company said.
Indivior noted comments by Reckitt Benckiser in The Times of London and Financial Times newspapers that it "regularly takes certain procedural steps to preserve potential claims."
Indivior said it believes it has strong grounds for defending against the claim should it be served, based on the information available to the company.
Write to Adria Calatayud at firstname.lastname@example.org
(END) Dow Jones Newswires