Biovail acquiring tetrabenazine portfolio

Biovail Corp. (TSX:BVF; NYSE:BVF) will acquire worldwide rights to a portfolio of tetrabenazine products from Cambridge Laboratories Ltd. (Dublin, Ireland) for $200 million up front, plus $30 million in two tranches over two years. The deal includes Xenazine/ Nitoman tetrabenazine, tetrabenazine CR ( BVF-018) and RUS350. Biovail already markets tetrabenazine as Nitoman in Canada to treat hyperkinetic movement disorders and receives royalties from its marketing partner in the U.S., H. Lundbeck A/S (CSE:LUN). The selective inhibitor of vesicular monoamine transporter 2 (VMAT2) is approved in a number of other countries, including Australia, France, Germany, Ireland and the U.K. ...