Biotechnology Business

Biovail Enters Into License and Development Agreement

Published in Drug Law Weekly, August 21st, 2007

Biovail Corporation (NYSE:BVF)(TSX:BVF) announced that a subsidiary, Biovail Laboratories International SRL, has entered into a license and development agreement with an undisclosed, privately held, drug-development company for the exclusive global rights to BVF-324, a novel product for the treatment of a prevalent sexual dysfunction.

The agreement allows for the licensing of clinical data, intellectual property and the rights to develop, manufacture and market BVF-324 globally. In return, Biovail has paid an upfront fee, and is contingently obligated to make additional milestone payments, including upon the initiation of the first Phase III trial for the product and...

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Source: Drug Law Weekly (2007-08-21)

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