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Biovail Corporation
Biovail Announces Closing of Acquisition of Worldwide Rights to Tetrabenazine
July 11th, 2009
Biovail Corporation (NYSE:BVF) (TSX:BVF) announced that a wholly owned subsidiary has completed the acquisition of the worldwide development and commercialization rights to the entire portfolio of tetrabenazine products, including Xenazine®/Nitoman® (tetrabenazine tablets), and the associated intellectual property rights held by Cambridge Laboratories (Ireland) Limited and its affiliates ("Cambridge"). Under the terms of the agreement, Biovail has paid $200 million and will pay an additional $30 million in two tranches over the next 24 months to acquire the worldwide development, manufacturing, and commercialization rights to the tetrabenazine product portfolio. This...
Source: Law & Health Weekly (2009-07-11)
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