Reckitt Benckiser Pharmaceuticals, Inc.

Highly Experienced Pharma Commercial and Business Development Executive in Addiction Treatment Space Joins Leadership Team While Continuing as Board MemberCharlottesville, Va., Jan. 18, 2024 (GLOBE NEWSWIRE) -- Adial Pharmaceuticals, Inc. (NASDAQ: ADIL; ADILW) (“Adial” or the “Company”), a clinical-stage biopharmaceutical company focused on developing therapies for the treatment and prevention of addiction and related disorders, today announced the appointment of Tony Goodman as Chief Operating Officer. A highly accomplished pharmaceutical industry executive and member of Adial’s Board of Directors since 2017, Mr. Goodman will oversee the Company's strategic growth initiatives, including clinical development and commercial planning for AD04, as well as business development initiatives focused on partnership opportunities in the area of addiction treatment. He will continue to serve on Adial’s Board. Cary J. Claiborne, Adial's Chief Executive Officer, stated, "We welcome Tony to the senior management team at this pivotal time for the Company. He brings senior leadership and business development experience from his past work with several pharmaceutical companies, including Indivior, where he and I worked closely together. The addition of Tony to the Adial team enables us to more fully benefit from his extensive experience and successful track record within the biopharmaceutical industry, especially within the addiction space, as we approach the next phase in our advancement of the AD04 clinical program and begin preparations for potential commercialization for the treatment of alcohol use disorder (“AUD”). We look forward to Tony executing in his new role as we move toward completion of our partnering activities and advance the AUD program into the next stage of clinical development." Mr. Goodman commented, "After supporting Cary and Adial with strategic partnering initiatives following the ONWARD™ trial, I strongly believe in the value that AD04 can bring to patients struggling with AUD. AD04 is a unique asset, and our post hoc analyses bring new hope that the next trials will prove the clinical relevance of AD04 in treating AUD. I look forward to leading the efforts to bring this much needed treatment to patients." Mr. Goodman’s career spans more than 23 years in the pharmaceutical and biotech industries. He is the founder and Managing Director of The Keswick Group LLC, a strategic commercial and business development advisory firm. From October 2014 until February 2017, he served as the Chief Business Development Officer of Indivior PLC (INDV, FTSE 500) and a member of the executive team that brought it public as a de-merger from Reckitt Benckiser Inc., the parent company of Reckitt Benckiser Pharmaceuticals (“RBP”). Mr. Goodman held many leadership positions at RBP and Indivior from 2006 until 2017 that included Global Director, Commercial Development and Strategic Planning; Global Head, Category Development; Director of US Business Development; and Director of US Commercial Managed Care. During his time at RBP, revenue grew to more than $1 billion annually in the addiction market. He has also served as the Director of Strategic Marketing and Business Development at PRA International. Mr. Goodman graduated from Marshall University with a degree in Business Administration and is currently a Full Board Executive with the National Association of Corporate Directors (“NACD”). About Adial Pharmaceuticals, Inc. Adial Pharmaceuticals is a clinical-stage biopharmaceutical company focused on the development of therapies for the treatment and prevention of addiction and related disorders. The Company’s lead investigational new drug product, AD04, is a genetically targeted, serotonin-3 receptor antagonist, therapeutic agent for the treatment of AUD in heavy drinking patients and was recently investigated in the Company’s ONWARD™ pivotal Phase 3 clinical trial for the potential treatment of AUD in subjects with certain target genotypes (estimated to be approximately one-third of the AUD population) identified using the Company’s proprietary companion diagnostic genetic test. ONWARD showed promising results in reducing heavy drinking in heavy drinking patients, and no overt safety or tolerability concerns. AD04 is also believed to have the potential to treat other addictive disorders such as Opioid Use Disorder, gambling, and obesity. Additional information is available at www.adial.com. Forward Looking Statements This communication contains certain "forward-looking statements" within the meaning of the U.S. federal securities laws. Such statements are based upon various facts and derived utilizing numerous important assumptions and are subject to known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Statements preceded by, followed by or that otherwise include the words "believes," "expects," "anticipates," "intends," "projects," "estimates," "plans" and similar expressions or future or conditional verbs such as "will," "should," "would," "may" and "could" are generally forward-looking in nature and not historical facts, although not all forward-looking statements include the foregoing. The forward-looking statements include statements regarding the addition of Mr. Goodman enabling the Company to more fully benefit from his extensive experience and successful track record within the biopharmaceutical industry as the Company approaches the next phase in its advancement of the AD04 clinical program and begins preparations for potential commercialization for the treatment of AUD, the Company moving toward completion of its partnering activities and advancing the AUD program into the next stage of clinical development, the value that AD04 can bring to patients struggling with AUD, the next trials proving the clinical relevance of AD04 in treating AUD, bringing this much needed treatment to patients and the potential of AD04 to treat other addictive disorders such as opioid use disorder, gambling, and obesity. Any forward-looking statements included herein reflect our current views, and they involve certain risks and uncertainties, including, among others, our ability to pursue our partnering activities and regulatory strategy, our ability to maintain our Nasdaq listing, our ability to advance ongoing partnering discussions, our ability to obtain regulatory approvals for commercialization of product candidates or to comply with ongoing regulatory requirements, our ability to develop strategic partnership opportunities and maintain collaborations, our ability to obtain or maintain the capital or grants necessary to fund our research and development activities, our ability to retain our key employees or maintain our Nasdaq listing, our ability to complete clinical trials on time and achieve desired results and benefits as expected, regulatory limitations relating to our ability to promote or commercialize our product candidates for specific indications, acceptance of our product candidates in the marketplace and the successful development, marketing or sale of our products, our ability to maintain our license agreements, the continued maintenance and growth of our patent estate and our ability to retain our key employees or maintain our Nasdaq listing. These risks should not be construed as exhaustive and should be read together with the other cautionary statement included in our Annual Report on Form 10-K for the year ended December 31, 2022, subsequent Quarterly Reports on Form 10-Q and current reports on Form 8-K filed with the Securities and Exchange Commission. Any forward-looking statement speaks only as of the date on which it was initially made. We undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, changed circumstances or otherwise, unless required by law. Contact:Crescendo Communications, LLCDavid Waldman / Alexandra SchiltTel: 212-671-1020Email: ADIL@crescendo-ir.com

CHICAGO, Aug. 28, 2023 /PRNewswire/ -- If you purchased and/or paid for some or all of the price of Suboxone or its AB-rated generic equivalents, you could receive a payment from a class action lawsuit. Your rights may be affected by a proposed settlement in a class action lawsuit filed against Defendants Reckitt Benckiser Pharmaceutical, Inc., Reckitt Benckiser Group plc (the "Reckitt Defendants"), and Indivior, Inc. ("Indivior") (collectively, the "Defendants") regarding the prices paid for Suboxone (Co-Formulated Buprenorphine/Naloxone). The case name is In Re: Suboxone (Buprenorphine Hydrochloride and Nalaxone) Antitrust Litigation, Civil Action No. 2:13-md-02445-MSG (E.D. Pa.) (the "Lawsuit"). The Lawsuit, which is pending in the United States District Court for the Eastern District of Pennsylvania, claims that Defendants violated state antitrust, consumer protection and unjust enrichment laws in the United States, harming competition and causing class members to overpay for Suboxone. Defendants deny that they violated any laws. The Court dismissed the claims against the Reckitt Defendants. The Court has preliminarily approved a proposed settlement between the Class and Indivior (the "Settlement"). The proposed Settlement will provide for the payment of $30 million (the "Settlement Fund") to resolve the Class claims against Indivior. The full text of the proposed Settlement Agreement, dated as of August 14, 2023, is available at . The Court has scheduled a hearing to decide whether to approve the Settlement, the plan for allocating the Settlement Fund to the End Payor Class, and the request of Class Counsel for payment of attorneys' fees, reimbursement of expenses, and service awards to the End Payor Plaintiffs to be paid from the Settlement Fund (the "Fairness Hearing"). The Fairness Hearing is scheduled for October 19, 2023, at 1:30 p.m., before Judge Mitchell S. Goldberg at the James A. Byrne U.S. Courthouse, 601 Market Street, Philadelphia, PA 19106. Who Is Included? You may be a member of the End Payor Class if you are an individual or entity who purchased and/or paid for some or all of the purchase price for Co-Formulated Buprenorphine/Naloxone ("Suboxone") in AL, AK, AZ, AR, CA, CO, CT, DE, FL, GA, HI, ID, IL, IA, KS, KY, LA, ME, MD, MA, MI, MN, MS, MO, MT, NE, NV, NH, NJ, NM, NY, NC, ND, OK, OR, PA, PR, RI, SC, SD, TN, TX, UT, VT, VA, WA, WV, WI, WY, and DC between December 22, 2011 and August 21, 2023 (the "Class Period"). A more detailed notice, including the exact Class definition and exceptions to Class membership, is available at . Your Rights and Options DO NOTHING: If you did not request exclusion from the Class by April 17, 2022, you are a member of the Class and by doing nothing you will remain in the Class, but will not be entitled to share in any distribution from the Settlement Fund. You will be bound by any decision of the Court in this Lawsuit, including rulings on the Settlement. SUBMIT A CLAIM FORM: If you did not exclude yourself from the Class prior to the April 17, 2022 deadline and believe you are a Class Member, you will need to complete and return a Claim Form to obtain a share of the Net Settlement Fund. The Claim Form, and information on how to submit it, are available on the website, . Claim Forms must be postmarked (if mailed) or received (if submitted online) on or before February 17, 2024. EXCLUDE YOURSELF FROM THE CLASS: If you exclude yourself from the Class (i.e., opt out), you will not be bound by any orders and judgments of the Court on the issues and you will not give up your right to sue Indivior as part of any other lawsuit for the issues raised in this case. The deadline to exclude yourself from the Class is October 12, 2023. Specific instructions on how to request exclusion are included in the Long-Form Notice available on the website, . OBJECT TO THE SETTLEMENT: If you object to all or any part of the Settlement, the request for attorneys' fees, reimbursement of expenses, or the award of service awards to named End Payor Plaintiffs, or desire to speak in person at the Fairness Hearing, you must file a written letter of objection and/or a notice of intention to speak along with a summary statement with the Court and with Co-Lead Counsel and counsel for the Defendants by October 5, 2023. Specific instructions are included in the Long-Form Notice available on the website, . Want More Information? Go to , call 1-877-311-3735, email [email protected], or write to Settlement Administrator 54388, c/o A.B. Data, Ltd., P.O. Box 173080, Milwaukee, WI 53217. The deadlines contained in this Notice may be amended by Court Order, so check the Settlement website for any updates. Please do not call the Court or the Clerk of the Court for information about the Settlement. SOURCE Wexler Boley & Elgersma LLP, Miller Law LLC, Hilliard Shadowen LLP, Motley Rice LLC, and Spector Roseman & Kodroff P.C.

CHARLOTTESVILLE, Va., March 21, 2023 (GLOBE NEWSWIRE) -- Adial Pharmaceuticals, Inc. (NASDAQ: ADIL; ADILW) (“Adial” or the “Company”), a clinical-stage biopharmaceutical company focused on developing therapies for the treatment and prevention of addiction and related disorders, today announced it has engaged The Keswick Group, LLC, a biotech strategic commercial and business development advisory firm, to advance the Company’s partnering activities. The Keswick Group is led by Tony Goodman, a current member of Adial’s board of directors. Mr. Goodman’s career spans over 23 years in the pharmaceutical and biotech industries. He is the founder and Managing Director of The Keswick Group, LLC. From October 2014 until February 2017, he served as the Chief Business Development Officer of Indivior PLC (INDV, FTSE 500) and a member of the executive team which brought Indivior public as a demerger from Reckitt Benckiser, Inc., the parent company of Reckitt Benckiser Pharmaceuticals (“RBP”). Mr. Goodman held many leadership positions at RBP from 2006 until October 2014 that included Global Director, Commercial Development and Strategic Planning; Global Head, Category Development; Director of US Business Development; and Director of US Commercial Managed Care. During his time at RBP, revenue grew to over $1 billion annually in the addiction market. Mr. Goodman has also served as the Director of Strategic Marketing and Business Development at PRA International. Mr. Goodman graduated from Marshall University with a degree in Business Administration and is currently a Full Board Executive with the National Association of Corporate Directors (“NACD”). Cary Claiborne, President and Chief Executive Officer of Adial, stated, “Following our latest analysis of the ONWARD™ data, which identified specific genotypes in which AD04 achieved a statistically significant reduction of heavy drinking days as measured by the responder analysis applied to stringent FDA clinical endpoints, as well as our progress in securing meetings with regulatory agencies in both the U.S. and Europe in Q2 2023, we are actively advancing discussions with a variety of potential strategic partners that could enable us to bring AD04 to large markets in the most cost-effective and timely manner. As a result, Adial’s management and board of directors decided that this was the appropriate time to engage an experienced executive solely focused on identifying, evaluating and advancing our strategic options. Having held senior leadership and business development positions at a variety of pharmaceutical companies, including working closely with me at Indivior, Tony is ideally suited for this role given his expansive knowledge of and experience in strategically important partnering transactions and extensive relationships in the healthcare market.” About Adial Pharmaceuticals, Inc. Adial Pharmaceuticals is a clinical-stage biopharmaceutical company focused on the development of treatments for addictions and related disorders. The Company’s lead investigational new drug product, AD04, is a genetically targeted, serotonin-3 receptor antagonist, therapeutic agent for the treatment of Alcohol Use Disorder (AUD) in heavy drinking patients and was recently investigated in the Company’s ONWARD™ pivotal Phase 3 clinical trial for the potential treatment of AUD in subjects with certain target genotypes (estimated to be approximately one-third of the AUD population) identified using the Company’s companion diagnostic genetic test. ONWARD showed promising results in reducing drinking in heavy drinking patients, and no overt safety or tolerability concerns. AD04 is also believed to have the potential to treat other addictive disorders such as Opioid Use Disorder, gambling, and obesity. Additional information is available at . Forward Looking Statements This communication contains certain "forward-looking statements" within the meaning of the U.S. federal securities laws. Such statements are based upon various facts and derived utilizing numerous important assumptions and are subject to known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Statements preceded by, followed by or that otherwise include the words "believes," "expects," "anticipates," "intends," "projects," "estimates," "plans" and similar expressions or future or conditional verbs such as "will," "should," "would," "may" and "could" are generally forward-looking in nature and not historical facts, although not all forward-looking statements include the foregoing. The forward-looking statements include statements regarding advancing discussions with a variety of potential strategic partners that could enable the Company to bring AD04 to large markets in the most cost-effective and timely manner and the potential of AD04 to treat other addictive disorders such as opioid use disorder, gambling, and obesity. Any forward-looking statements included herein reflect our current views, and they involve certain risks and uncertainties, including, among others, our ability to implement our regulatory strategy for AD04 with the regulatory authorities in the U.S. and Europe and accelerate its path to market, our ability to engage strategic partners that could enable the Company to bring AD04 to large markets in the most cost-effective and timely manner, our ability to complete future clinical trials on time and achieve desired results and benefits as expected, our ability to obtain regulatory approvals for commercialization of product candidates or to comply with ongoing regulatory requirements, regulatory limitations relating to our ability to promote or commercialize our product candidates for specific indications, acceptance of our product candidates in the marketplace and the successful development, marketing or sale of our products, our ability to maintain our license agreements, the continued maintenance and growth of our patent estate, our ability to establish and maintain collaborations, our ability to obtain or maintain the capital or grants necessary to fund our research and development activities, and our ability to retain our key employees or maintain our Nasdaq listing. These risks should not be construed as exhaustive and should be read together with the other cautionary statement included in our Annual Report on Form 10-K for the year ended December 31, 2021, subsequent Quarterly Reports on Form 10-Q and current reports on Form 8-K filed with the Securities and Exchange Commission. Any forward-looking statement speaks only as of the date on which it was initially made. We undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, changed circumstances or otherwise, unless required by law. Contact: Crescendo Communications, LLC David Waldman / Alexandra Schilt Tel: 212-671-1020 Email: adil@crescendo-ir.com