Biovail Announces Termination of HSR Waiting Period, Closing of Acquisition of U.S. Rights to Wellbutrin XL[R].TORONTO -- Biovail Corporation (NYSE NYSE See: New York Stock Exchange , TSX: BVF) today announced that the waiting period under the Hart-Scott-Rodino (HSR HSR homogeneously staining regions. ) Antitrust Improvements Act has expired with respect to the acquisition of U.S. rights to Wellbutrin XL[R] (bupropion hydrochloride extended-release tablets) by its subsidiary, Biovail Laboratories International SRL, from GlaxoSmithKline plc (GSK). Under the terms of the agreement, which closed today, Biovail has paid $510 million to GSK to acquire the full U.S. rights to Wellbutrin XL[R]. Wellbutrin XL[R] is indicated for the treatment of major depressive disorder Major depressive disorder A mood disorder characterized by profound feelings of sadness or despair. Mentioned in: Conduct Disorder major depressive disorder and seasonal affective disorder seasonal affective disorder (SAD), recurrent fall or winter depression characterized by excessive sleeping, social withdrawal, depression, overeating, and pronounced weight gain. . About Biovail Corporation Biovail Corporation is a specialty pharmaceutical company engaged in the formulation, clinical testing, registration, manufacture, and commercialization of pharmaceutical products. The Company is focused on the development and commercialization of medicines that address unmet medical needs in niche specialty central nervous system (CNS See Continuous net settlement. CNS See continuous net settlement (CNS). ) markets. For more information about Biovail, visit the Company's Web site at www.biovail.com. For further information, please contact Nelson F. Isabel at 905-286-3000 or send inquiries to ir@biovail.com. |
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