Biovail

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Biovail Corporation

logo
legal form Corporation
ISIN CA09067J1093
founding 1982
resolution 2010
Reason for dissolution Merger with Valeant
Seat Mississauga , Ontario
management Douglas JP Squires
Number of employees 1368 (2008)
sales $ 757 million (2008)
Branch Pharma

Biovail was a Canadian company based in Mississauga , Ontario . The company was listed on the S & P / TSX 60 stock index on the Toronto Stock Exchange. In 2010 the company merged with Valeant , whereby the merger continues to run under the name Valeant and so the company Biovail no longer exists.

Biovail manufactured and sold various pharmaceutical products . The company was the largest pharmaceutical company from Canada. The main manufacturing facility was in Steinbach , Manitoba .

history

The beginnings of Biovail go back to 1982 when Eugene Melnyk founded the Trimel Corporation and today's Biovail Corporation. At that time, the company was already specializing in the manufacture of drugs with controlled release and targeted pharmacotherapy - also known as drug delivery technology in American-speaking countries - and is considered a pioneer in this sector on the pharmaceutical market.

In order to continue to focus on this core business, Trimel sold the medical publication division in 1988. With the acquisition of Ian W. French and Associates Ltd. In 1989 the company entered the contract research market and thus further expanded its product portfolio.

In 2001, Biovail split the analysts with the purchase of all rights to the Cardizem family for North America. Originally, Aventis - the industry leader in the American pharmaceutical market - held the sole rights to the heart drug. On the one hand, analysts hoped for a jump in sales through the purchase of the rights, on the other hand, industry experts reacted skeptically to the targeted market volume of 140 million US dollars. According to the experts, the market for the so-called calcium channel blockers (antihypertensive agents) is already saturated, which would inevitably lead to a decline in sales. As early as 2000, Biovail announced the approval of a generic as a passage for Adalat® CC - also an antihypertensive agent.

Meanwhile, Biovail continues to focus its core business on the US market - the world's largest market for pharmaceutical products. Biovail has also been listed there on the New York Stock Exchange (NYSE) since the late 1990s.

In 2010 the company merged with Valeant , whereby the merger continues under the name Valeant.

In 2011, Eugene Melnyk, Brian Crombie, John Miszuk and Kenneth G. Howling and the company Biovail were retroactively convicted of fraud by a US court. Eugene Melnyk was deprived of the right to run a company for five years.

Managing directors

  • Douglas JP Squires (Group Management and Chief Executive Officer )
  • Gilbert Godin (General Manager and Chief Operating Officer )
  • Kenneth G. Howling (Director, Chief Financial Officer )
  • Michel Chouinard ( Chief Operating Officer of Biovail Laboratories International SRL)
  • Mark Durham (Director, Human Resources, Information Technology)
  • Gregory Gubitz (Director Corporate Development)
  • Wendy Kelley (Director, General Counsel and Member of the Executive Board )
  • Christine Mayer (Director, Business Development Services, Biovail Pharmaceuticals, Inc.)
  • Peter Silverstone (Director, Medical and Scientific Affairs)
  • Jennifer Tindale (Vice Director and General Counsel)
  • Christopher Bovaird (Vice Director Corporate Finance)
  • Adrian de Saldanha (Vice Director Finance and Accounting)
  • Nelson F. Isabel (Vice Director Investor Relations and Corporate Communications)
  • John Miszuk (Vice Director Controller and Assistant Secretary)
  • John Sebben (Vice Director Technical Cooperation)
  • Scott Smith (Vice President, General Administrator, Biovail Pharmaceuticals, Canada and Biovail Pharmaceuticals, Inc.)

Key figures

year 2000 2001 2002 2003 2004 2005 2006 2007 2008
Sales
in million $ 		309.170 583.263 788.025 823.722 886,543 938,343 1,067.722 842.818 757.178
Employee 1,200 1,425 1,857 1,958 2,291 1,744 1,734 1,533 1,368

Locations

Canada

  • Biovail Corporation, Mississauga
  • Biovail Corporation, Steinbach (Manitoba)
  • Biovail Pharmaceuticals Canada, Mississauga
  • Biovail Contract Research Division, Toronto

United States

  • Biovail Pharmaceuticals, Inc., Bridgewater (New Jersey)
  • Biovail Technologies Ltd., Bridgewater (New Jersey)
  • Biovail Technologies Ltd., Chantilly (Virginia)
  • Biovail Laboratories, Dorado (Puerto Rico)
  • Biovail Laboratories, Carolina (Puerto Rico)

Europe

  • Biovail Technologies (Ireland) Limited, Dublin (Ireland)

West indies

  • Biovail Laboratories International SRL, St. Michel (Barbados)

Individual evidence

  1. ↑ a b Annual Report 2008, Format 20-F. (PDF; 1.3 MB) Biovail Corporation, accessed June 12, 2009 .
  2. ^ A b Valeant: Key Facts & History . 2014. Retrieved March 25, 2014.
  3. ↑ US Securities and Exchange Commission: FINAL JUDGMENTS ENTERED AGAINST FORMER BIOVAIL EXECUTIVES EUGENE MELNYK AND BRIAN CROMBIE , Litigation Release No. 21938 / April 19, 2011, accessed May 22, 2014.