Biovail Submits Complete Response to FDA for BVF-033
TORONTO--(BUSINESS WIRE)--Oct 24, 2007 - Biovail Corporation (NYSE:BVF) (TSX:BVF) announced today that the Company has submitted a Complete Response to the United States Food and Drug Administration (FDA) that addresses all the issues raised in the Non-Approval Letter for BVF-033, a novel once-daily salt formulation of bupropion.
Based on Biovail's discussions with the FDA in an August 14, 2007 meeting, and in accordance with FDA feedback, the submission includes new analyses of the data included in the original New Drug Application (NDA) for BVF-033, but does not include results from any new studies. Biovail anticipates receiving a response from the FDA in the near term. The Company believes the data package is sufficient to support the approval of BVF-033.
"Safe Harbor" Statement Under the Private Securities Litigation
Reform Act of 1995
To the extent any statements made in this press release contain information that is not historical, these statements are
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended, and within the meaning
of the "safe harbor" provisions of applicable Canadian securities
legislation. These forward-looking statements relate to, among
other things, our intentions and plans, and can generally be
identified by the use of words such as "believes" and
"anticipates", and other similar expressions. Although Biovail
believes that the expectations and intentions reflected in such
forward-looking statements are reasonable, such statements involve
risks and uncertainties, and undue reliance should not be placed on
such statements. Specifically the risks and uncertainties the
Company faces include, but are not limited to, the uncertainties
related to the regulatory process, including regulatory approval.
Additional information about these factors may be found in the body
of this news release, and under the heading "Risk Factors"
contained in Item 3(D) of Biovail's most recent Annual Report on
Form 20-F/A.
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 Nelson F. Isabel at 905-286-3000 or send inquiries to ir@biovail.com.
Contact
Biovail Corporation
Nelson F. Isabel, 905-286-3000
Vice-President, Investor Relations and
Corporate Communications
Posted: October 2007
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