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Antitrust Regulators Clear Biovail's Wellbutrin XL Deal With GSK

Fri, 05/15/2009 - 4:23am
NEW YORK (AP) — Biovail Corp. has acquired full U.S. rights to the antidepressant Wellbutrin XL after antitrust regulators finished reviewing Biovail's agreement to purchase them from GlaxoSmithKline PLC. Biovail paid $510 million for the rights to Wellbutrin XL, fulfilling an agreement the companies made last week. The Toronto-based company helped develop the drug, and although sales have fallen sharply since generic versions reached the market a year ago, Biovail plans to use its new revenue from Wellbutrin XL to help fund development or acquisition of other products.
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