Biovail :: Biovail Drops US Sales Organization

Biovail Corporation (NYSE:BVF)(TSX:BVF) today announced that it will no longer maintain a U.S.-based sales organization, and that it intends to enter into supply-and-distribution agreements with strategic partners to target physicians groups in the United States. As a result of this decision, the Company has enhanced the operational efficiency of its business model.

In addition, the Company announced that it would drive business growth through a targeted focus on a number of core research-and-development programs. These strategic initiatives are expected to reduce operating costs and improve operating efficiencies.

Biovail is effecting these changes following a comprehensive review of all aspects of the Company’s business. This news release contains forward-looking statements that are based on the Company’s current views; however, actual results may differ materially from those expressed in such forward-looking statements.

Biovail intends to materially increase its investment in research and development over the next several years. The Company will focus its efforts on three core segments:
(1) enhanced formulations of existing products,
(2) combination products incorporating different classes of drugs, and
(3) difficult-to-manufacture generic pharmaceuticals.


Leave a Comment