This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.Here is a sample of this item:Biovail earns $40.36-million (U.S.) in Q3 2009 2009-11-05 12:53 ET - News Release Mr. Nelson Isabel reports BIOVAIL REPORTS THIRD-QUARTER 2009 FINANCIAL RESULTS
Biovail Corp. has released financial results
for the three-month and nine-month periods ended Sept. 30, 2009. All figures are in U.S. dollars unless noted otherwise.
"Biovail produced strong cash flows from operations in the third
quarter, which allowed us to reduce long-term debt by $75-million. We
also completed our fifth business development transaction since
launching our new strategy only 18 months ago," said Biovail chief
executive officer, Bill Wells. "Cash flow was assisted by strong
prescription volume for Wellbutrin XL, which continues to
track above most generic analogues, and by a growing contribution from our
recently acquired tetrabenazine franchise.
"We remain active on the business development front and are currently
evaluating a number of opportunities within our target therapeutic area
of specialty central nervous system disorders. With over $500-million in
available liquidity at the end of the third quarter, we're well
positioned to execute on one or more of these to further build a
long-term growth engine for the company."
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