Biovail Corporation is Canada's largest publicly traded pharmaceutical company. Since the mid-1990s, Biovail strategy has been to apply advanced drug-delivery technologies to improve the clinical effectiveness of medicines. The Company's business strategy involves commercializing these products both directly (as is the case in Canada) and through strategic partners. Its main therapeutic areas of focus have historically been central nervous system (CNS) disorders, pain management and cardiovascular disease.
Biovail's core competency lies in its expertise in the development and large-scale manufacturing of pharmaceutical products incorporating oral drug-delivery technologies. The Company has a broad portfolio of these technologies that represent the foundation upon which its R&D strategy has historically been based. In 2007, the Company leveraged this portfolio by focusing on (1) enhanced formulations of existing drugs, (2) combination products that incorporate two or more differene therapeutic classes of drugs, and (3) difficult-to-manufacture generic pharmaceuticals.
Historically, the Company has targeted spending between 8%-12% of its total revenues on R&D activities. However, this figure increased to 14% in 2007 (reflecting a 24% increase in R&D expenses in a period where total revenues declined 21%), and is likely to remain above the historical range in 2008 as the Company begins implementing its New Strategic Focus.
In Canada, where the market dynamics are much different than in the U.S., Biovail maintains a direct-selling commercial presence through Biovail Pharmaceuticals Canada (BPC) that successfully targets both specialist and primary-care physicians across the country. BPC has established itself as a leading pharmaceutical marketing and sales operation in Canada. Market research indicates that BPC is the largest independent pharmaceutical Company that markets to physicians in Canada. BPC currently promotes a portfolio of products to approximately 11,000 physicians across the country. Products include Tiazac® XC, Wellbutrin XL®, Glumetza®, and more recently Ralivia™ – Biovail’s once-daily formulation of tramadol, which was launched to Canadian physicians in November 2007.
For more information, please contact:
Larry Thiessen, General Manager larry.thiessen@biovail.com
(204) 326-9000 ext.239
100 Lifesciences Parkway, Steinbach, MB, Canada, R5G 1Z7
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