TORONTO--(BW HealthWire)--Dec. 17, 1997--Biovail Corporation International (NYSE, TSE:BVF) today announced that its Canadian sales and marketing subsidiary, Crystaal Corporation, has entered into an agreement with Fournier Pharma Inc., a Montreal, Quebec based pharmaceutical company, to co-promote Fournier's Lipidil Micro(R) (micronized fenofibrate), a leading cholesterol lowering agent that lowers the level of LDL cholesterol while significantly increasing HDL cholesterol.
Rolf Reininghaus, President of Crystaal, commented "this agreement presents us with an exciting opportunity to increase our participation in the highly competitive cardiovascular market and will provide an immediate contribution to Crystaal's earnings. With this programme our position will be strengthened in the Canadian market and we are poised to establish further co-promotional and in-licensing opportunities."
Fournier Pharma is the Canadian subsidiary of Groupe Fournier, one of France's major pharmaceutical companies. Groupe Fournier's R & D focuses on cardiovascular diseases, urology and immunology as well as the development and manufacturing of novel drug delivery systems.
Biovail Corporation International is an international full-service pharmaceutical company, engaged in the formulation, clinical testing, registration and manufacture of drug products utilizing advanced drug delivery technologies.
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"Safe-Harbor" statement under the Private Securities Litigation Reform Act of 1995.
To the extent any statements made in this release contain information that is not historical, these statements are essentially forward looking and are subject to risks and uncertainties, including the difficulty of predicting FDA approvals acceptance and demand for new pharmaceutical products, the impact of competitive products and pricing, new product development and launch, reliance on key strategic alliances, availability of raw materials, the regulatory environment, fluctuations in operating results and other risks detailed from time to time in the company's filings with the Securities and Exchange Commission.
CONTACT: Biovail Corporation International
Eugene Melnyk, Chairman of the Board
Bob Podruzny, President
416/285-6000
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