GSK, Biovail license deal

Biovail (BVF; TSE:BVF) licensed to GlaxoSmithKline (GSK; LSE:GSK) worldwide sales and distribution rights to a controlled-release, once-daily formulation of bupropion for depression. GSK already markets its Wellbutrin SR bupropion twice-daily product. BVF will manufacture and supply the once-daily formulation to GSK for a share of future sales. The parties will co-promote Wellbutrin SR, and BVF will have the option to co-promote Wellbutrin Once Daily in the U.S. An NDA for the product is expected in the first half of next year. ...