Indivior PLC (LSE:INDV) is set to end its secondary listing on the London Stock Exchange, drawing a line under a volatile 11-year chapter as a UK-listed company following its spin-out from Reckitt Benckiser in 2014.
Its tenure as a London-listed company was marred by legal battles over its opioid treatments, loss of patent protection, investor distrust, and a growing disconnect between its UK listing and US-focused operations.
The drugmaker, which specialises in treatments for opioid addiction, confirmed on Monday that it will delist from London in July and maintain a sole listing on Nasdaq.
The move follows a strategic shift in 2024, when the company designated the US as its primary listing location.
Chair David Wheadon described the decision as “a key milestone” that aligns the company more closely with its operational and financial footprint.
“A single primary listing on Nasdaq best reflects the profile of Indivior’s business,” he said, noting that over 80% of its revenue now comes from the US.
Indivior cited low trading volumes in London, rising administrative costs, and the concentration of its shareholder base in the US as key factors behind the decision.
Around 75% of recent trading in Indivior shares has taken place on Nasdaq, while more than 70% of shares by value are now held by US-based investors.
The company's final day of trading in London will be 24 July, with the delisting taking effect the following morning.
Shareholders holding UK depositary interests have been urged to take action to ensure they can continue to trade on Nasdaq thereafter.