Biovail Names Additional Tiazac International Licensees.TORONTO--(BW HealthWire)--Feb. 19, 1998--Biovail Corporation International (NYSE NYSE See: New York Stock Exchange :BVF BVF Biovail Corporation (stock symbol) BVF Berufsverband der Frauenärzte eV (Muenchen, Germany) BVF Bearing Versus Frequency ) (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :BVF) announced today that it has entered into licensing agreements covering an additional four countries for the sales and marketing of its once daily diltiazem product Tiazac(R) which is approved for hypertension. The agreements include Italy, Argentina, Brazil and Australia. Excluding North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. , Biovail has executed licensing and marketing agreements for Tiazac(R) for thirteen countries with a combined market opportunity in excess of $390 million. Eugene Melnyk, Chairman of the Board, commented, "Variations for the approval of the angina indication have been filed in all European countries where Tiazac(R) is currently approved. We expect the angina indication approval in the very near future." Biovail's additional marketing partners include Crino International S.p.A. for Italy, Laboratorios Richmond for Argentina, Barrenne Industria Farmaceutica for Brazil and Douglas Pharmaceuticals Ltd. for Australia. Biovail Corporation International is an international full-service pharmaceutical company, engaged in the fomulation, clinical testing, registration and manufacture of drug products utilizing advanced drug delivery technologies. "Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. " 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 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. CONTACT: Biovail Corporation International, Toronto Eugene Melnyk or Bob Podruzny, 416/285-6000 |
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