Biovail Announces Offer to Purchase All of the Outstanding 7% Convertible Subordinated Debentures of Biovail Technologies Ltd. - Formerly Fuisz Technologies Ltd.TORONTO--(BW HealthWire)--Nov. 17, 1999-- Biovail Corporation International (NYSE NYSE See: New York Stock Exchange :BVF) (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :BVF) announced today that its wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. Biovail Technologies Ltd. (formerly Fuisz Technologies Ltd.) has commenced an offer to purchase for cash all of its outstanding 7% Convertible Subordinated Debentures due 2004 at 100% of the principal amount thereof, plus accrued and unpaid interest up to but excluding the repurchase date. The offer is being made pursuant to the terms of the indenture governing the debentures and is scheduled to expire on December 16, 1999. The Bank of New York The Bank of New York, abbrieviated to BNY, was a global financial services company that existed until its merger with the Mellon Financial Corporation on July 2, 2007.[1] The bank now continues under the new name of The Bank of New York Mellon Corporation. is acting as depository for the offer. Biovail Corporation International is an international full-service pharmaceutical company, engaged in the formulation, clinical testing, registration and manufacture of drug products utilizing advanced drug delivery technologies. "Safe Harbor" statement under the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. To the extent any statements made in this release contain information that is not historical, these statements are essentially forward looking and are subject to risks and uncertainties, including the difficulty of predicting FDA FDA abbr. Food and Drug Administration FDA, n.pr See Food and Drug Administration. FDA, n.pr the abbreviation for the Food and Drug Administration. approvals, acceptance and demand for new pharmaceutical products, the impact of competitive products and pricing, new product development and launch, reliance on key strategic alliances, availability of raw materials, the regulatory environment, fluctuations in operating results and other risks detailed from time to time in the company's filings with the Securities and Exchange Commission. |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion