Biovail Announces Purchase of Generic Version of Procardia XL From Intelligent Polymers.TORONTO--(BW HealthWire)--Dec. 1, 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 it has exercised its option to purchase an exclusive license from Intelligent Polymers Limited for its generic version of Procardia XL for a purchase price of $25.0 million. Biovail has been developing this product on Intelligent Polymer's behalf and has filed an ANDA ANDA abbr. abbreviated new drug application with the U.S. Food and Drug Administration covering multiple dosage strengths. 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 An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. Reform Act 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. |
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