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Deals

Reckitt files 1.07 billion pound claim against former unit Indivior

(Reuters) - Consumer good maker Reckitt Benckiser earlier this month submitted a 1.07 billion pound ($1.43 billion) claim to the Commercial Court in London against Indivior relating to their demerger agreement, the drug developer said on Friday.

Indivior, which was spun off from Reckitt in 2014, said it does not have any further details at this time, adding it would assess the background and merits of the case with its advisers.

Reckitt said in an emailed statement that it “regularly takes certain procedural steps to preserve potential claims, especially with a view to any potential statute of limitation issues.”

Indivior shares were down more than 18% on Friday, having earlier fallen as much as 46% - the stock’s biggest intra-day drop in over 19 months.

($1 = 0.7492 pounds)

Reporting by Muvija M and Aby Jose Koilparambil in Bengaluru; Editing by Shinjini Ganguli, Aditya Soni

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