Biovail Releases Earnings Guidance; Biovail Expects to Exceed Consensus Earnings Estimates for 2001; Reconfirms Comfort With EPS Growth in Excess of 30% for 2002 and 2003.Business Editors, Health & Medical Writers TORONTO--(BW HealthWire)--Jan. 24, 2002 2001 earnings release date set for February 21, 2002 Biovail Corporation (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, subject to final audit release, it expects to exceed the First Call earnings per share consensus estimates for 2001 based on the Company's strong 2001 fourth quarter performance. Current consensus First Call earnings per share estimate for the year ended December 31, 2001 is $1.30. Eugene Melnyk, Chairman of the Board, commented, "Biovail reaffirms its comfort with projected earnings per share growth rates Growth Rates The compounded annualized rate of growth of a company's revenues, earnings, dividends, or other figures. Notes: Remember, historically high growth rates don't always mean a high rate of growth looking into the future. in excess of 30 percent for both 2002 and 2003. Our confidence in this regard is predicated upon the maturing of our deep and rich research pipeline, the upcoming launch of several of these promising medications, the leverage provided through the expansion of our United States sales and marketing organization and a number of near-term multi-faceted product acquisitions that will complement our product offering." The management of Biovail will be hosting an earnings release conference call to review the fourth quarter and full year 2001 performance at 8:30 a.m. on February 21, 2002. The call will be broadcast over the web and will be accessible through the Company's website at www.biovail.com. Dial-in instructions will be disseminated accordingly. Biovail Corporation is an international full-service pharmaceutical company, engaged in the formulation, clinical testing, registration, manufacture, sale and promotion of pharmaceutical 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 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