BIOVAIL RE-ACQUIRES RIGHTS TO ITS ONCE-DAILY DILTIAZEM PRODUCT MARION MERRELL DOW PATENT LITIGATION TO BE WITHDRAWN.TORONTO, Canada, April 3, 1995--(BUSINESS WIRE)--Biovail Corporation International (AMEX AMEX See: American Stock Exchange ,TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :BVF BVF Biovail Corporation (stock symbol) BVF Berufsverband der Frauenärzte eV (Muenchen, Germany) BVF Bearing Versus Frequency ) announced today that it has re-acquired the U.S. license to its once-daily controlled release formulation of Diltiazem HCI. This product was originally licensed to Hoechst-Roussel Pharmaceuticals Inc. ("Hoechst") in 1993. Biovail also announced that it has been advised by Hoechst that within 30 days of the closing and purchase by Hoechst of the controlling interest in Marion Merrell Dow Inc. ("Marion"), Hoechst will (a) withdraw or otherwise dismiss the patent-related complaint filed by Marion and Carderm Capital L.P. against Hoechst in the United States District Court for the District of New Jersey The United States District Court for the District of New Jersey is the Federal district court whose jurisdiction is the state of New Jersey. It was established in 1789. New Jersey is the largest state by population to only have one District Court. The Honorable Garrett E. , Civil Action No. 93-5074 (AET), with prejudice; (b) use its best efforts to have Elan Corporation Plc withdraw or otherwise dismiss the same complaint and dismiss it with prejudice; and (c) withdraw the Citizen's Petition bearing the date August 5, 1994 filed by Marion with the United States Food and Drug Administration United States Food and Drug Administration (FDA), n.pr a unit of the Public Health Service created to protect the health of the nation against impure and unsafe foods, drugs, and cosmetics. . Biovail is currently considering a Hoechst financial proposal relating to the withdrawal of the complaint filed by Biovail against Marion, four officers of Marion, as well as a related limited partnership in the United States District Court for the District of Puerto Rico The United States District Court for the District of Puerto Rico is the federal district court whose jurisdiction comprises the Commonwealth of Puerto Rico. The court is based in San Juan. The main building is the Clemente Ruiz Nazario U.S. , Civil Action No. 94-2393 (HC). Biovail Corporation International is an international, full-service pharmaceutical company, engaged in the formulation, clinical evaluation, registration and manufacturing of drug products utilizing advanced drug delivery technologies. CONTACT: Eugene Melnyk Chairman of the Board (416) 285-6000 OR Donna Stein/Sue Rodney Morgen-Walke Associates (212) 850-5600 OR Stacy Berns Morgen-Walke Associates, Inc. (212) 850-5675 |
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