Biovail Comments on Ultram(R) ER Court Ruling
TORONTO--(BUSINESS WIRE)--Aug. 17, 2009--
Biovail Corporation (NYSE, TSX: BVF) announced today that on August 14,
2009, in the United States District Court for the District of Delaware,
Judge Kent A. Jordan issued an opinion in favour of Par Pharmaceuticals,
Inc. (Par) in the patent-infringement litigation relating to Ultram® ER
(tramadol hydrochloride extended-release tablets). Although Biovail is
not a party to the action, the decision could have an effect on
Biovail’s revenues relating to Ultram® ER.
The Court’s ruling, in conjunction with Par’s recent receipt of
tentative approval from the U.S. Food and Drug Administration (FDA) for
its 100mg and 200mg strength tablets, could allow Par to launch their
generic formulation of those tablet strengths at any time. Biovail will
be consulting with its partner, Pricara (a division of
Ortho-McNeil-Janssen Pharmaceuticals, Inc.) to determine next steps. The
decision as to whether or not to appeal the decision lies with Purdue
Pharma LP, the patent holder.
Biovail recorded Ultram® ER revenues of $81.9 million in 2008, and $37.2
million in the first half of 2009.
About Biovail Corporation
Biovail Corporation is a specialty pharmaceutical company engaged in the
formulation, clinical testing, registration, manufacture, and
commercialization of pharmaceutical products. The Company is focused on
the development and commercialization of medicines that address unmet
medical needs in niche specialty central nervous system (CNS) markets.
For more information about Biovail, visit the Company’s web site at www.biovail.com.
For further information, please contact Nelson F. Isabel at 905-286-3000
or send inquiries to ir@biovail.com.
Source: Biovail Corporation
Biovail Corporation
Nelson F. Isabel, 905-286-3000
Vice-President,
Investor Relations
& Corporate Communications
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