Healthcare Industry News: Biovail
News Release - December 20, 2006
Biovail Enters into Exclusive Promotional Agreement for Zovirax(R)Sciele to Provide Promotional Support for Zovirax(R) Ointment, Zovirax(R) Cream
TORONTO--(HSMN NewsFeed)--Biovail Corporation (NYSE:BVF ; TSX:BVF ) today announced that a subsidiary of the Company (Biovail Pharmaceuticals, Inc.) has entered into an exclusive promotional services agreement with Sciele Pharma, Inc., whereby Sciele's sales force will promote Zovirax® Ointment and Zovirax® Cream to U.S. physicians.
Under the terms of the agreement, which has an initial term of five years, Biovail will compensate Sciele for providing detailing and sampling support for the products. In addition, Sciele is entitled to incentive fees if certain baseline revenue targets are met.
A promotional services agreement was contemplated in Biovail's recently issued 2007 financial guidance. As such, no change to Biovail's guidance is necessary.
About Biovail Corporation
Biovail Corporation is a specialty pharmaceutical company, engaged in the formulation, clinical testing, registration, manufacture, and commercialization of pharmaceutical products utilizing advanced drug-delivery technologies. For more information about Biovail, visit the Company's Web site at www.Biovail.com.
For further information, please contact Ken Howling at 905-286-3000 or send inquiries to ir@Biovail.com.
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