Biovail Seeks FDA Approval For Generic Version Of Abbott Laboratories Cholesterol Drug
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[September 04, 2008]

Biovail Seeks FDA Approval For Generic Version Of Abbott Laboratories Cholesterol Drug

(InvesTrend Via Acquire Media NewsEdge)
September 4, 2008 (FinancialWire) -- Canadian drugmaker Biovail Corp.
(NYSE: BVF) said that it is seeking U.S. approval to market a generic
version of cholesterol drug Tricor from Abbott Laboratories (NYSE: ABT).
Biovail said it filed an application for generic Tricor with the Food
and Drug Administration. Abbott is currently the only manufacturer of
Tricor, but it is expected to face competition when its patent expires
next year.
The drug is designed to increase HDL, or "good" cholesterol, and lower
LDL, or "bad" cholesterol, by breaking down fat in the bloodstream.
According to pharmaceutical data firm IMS Health, Tricor generated U.S.
revenue of $1.45 billion in year ended June 30, 2008.
Shares of Biovail Corp. fell five cents to $10.86 in after-hours
trading, after closing earlier up 14 cents to $10.91. Shares of Abbott
Laboratories fell $1.08 to close at $57.93 Wednesday.
FinancialWire is a fully independent, proprietary news wire service of
Investrend Information (a division of Investrend Communications, Inc.).


FinancialWire news is written by professional journalists, dedicated
to pure journalistic standards. FinancialWire does not receive or
accept any compensation from any individual or subject company (or
representative thereof) for its news or opinions. All FinancialWire
news is available at http://www.financialwire.net . Please address any
inquiries to feedback@financialwire.net .
Free annual reports for companies mentioned in the news are available
at http://investrend.ar.wilink.com/?level=279 .

(Distributed for Investrend Communications, Inc. via M2 Communications
Ltd (www.m2.com))



Copyright ? 2008 M2 Communications Ltd.

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