Biotechnology Business
Biovail Announces Settlement Agreement Related to Cardizem(R) LA
Published in Drug Law Weekly, December 18th, 2007
Biovail Corporation (NYSE, TSX: BVF) announced that its subsidiary, Biovail Laboratories International SRL (BLS), has reached a settlement agreement with Watson Pharmaceuticals, Inc. (NYSE: WPI), with respect to patent litigation against Watson subsidiary Andrx Pharmaceuticals, Inc. related to Andrx's abbreviated new drug application for a generic version of Cardizem(R) LA, Biovail's once-daily formulation of diltiazem.
Under the terms of the settlement agreement, BLS will receive a royalty based on sales of Watson's generic formulation of Biovail's Cardizem(R) LA. The agreement generally provides that Watson will not commence marketing and sales of its generic...
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Source: Drug Law Weekly (2007-12-18)
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