-- Isordil further expands Biovail's cardiovascular product line
Biovail Corporation (NYSE:BVF)(TSX:BVF) announced today that it has acquired U.S. rights to the Ativan(R) (lorazepam) and Isordil(R) (isosorbide dinitrate) oral product lines from Wyeth (NYSE:WYE) for $130 million and annual payments pursuant to a three year supply agreement. Sales of Ativan and Isordil in the U.S. were in excess of $50 million in 2002.
Ativan is a benzodiazepine, indicated for the management of anxiety disorders or for the short-term relief of anxiety or anxiety associated with depressive symptoms. The market for anxiety treatments was in excess of $11 billion for the 12 months ended December 2002. Isordil is a nitrate indicated for the prevention of angina pectoris due to coronary artery disease. Sales of nitrate products were in excess of $360 million for the 12 months ended December 2002.