June 21, 2010 / 5:12 PM / 9 years ago

Factbox: Key facts about Biovail and Valeant

(Reuters) - Top Canadian drugmaker Biovail Corp BVF.TOBVF.N will buy Valeant Pharmaceuticals International VRX.N in a complex deal worth roughly $3.3 billion engineered by the U.S. drug maker to preserve a lower tax structure.

The combined company will take Valeant’s name and expects to reap cost savings, see its cash flow triple from Valeant’s roughly $300 million and specialize in products for central nervous system disorders and dermatology.

Following are some key facts about Biovail and Valeant.

BIOVAIL:

- Founded in the late 1980s.

- Specializes in controlled-release, drug-delivery technology.

- Headquartered in Mississauga, Ontario, Canada.

- Main manufacturing facility located in Manitoba, with another facility in Puerto Rico.

- Principal operating subsidiary, Biovail Laboratories International, is located in Barbados.

- 1,249 employees as of May, 2010.

- Posted first quarter net loss of $3.2 million.

- 2009 revenues were $820.4 million.

- Its current portfolio includes over 20 products, including branded, legacy and generic drugs.

- Key drugs on the market include Wellbutrin XL, for the treatment of depression, and Tiazac XC, for chest pain and mild to moderate high blood pressure.

- Drugs in the pipeline include: Staccato loxapine for the treatment of agitation in schizophrenia and bipolar patients, pimavanserin for Parkinson’s disease psychosis, BVF-018 for the treatment of Tourette Syndrome and CX717 for the treatment of respiratory depression.

- Refocused business on treatment of central nervous system disorders in 2008.

VALEANT PHARMACEUTICALS:

- Founded in 1960, the company develops, manufactures and markets pharmaceutical products that are primarily in neurology and dermatology.

- Headquartered in Aliso Viejo, California.

- Manufacturing sites in Canada, Brazil, Poland and Mexico.

- Approximately 3,100 employees.

- Reported first quarter profit from continuing operations of $35.6 million.

- 2009 revenues were $830.5 million.

- Key drugs on the market include Efudex/Efudix, used for skin cancer treatment, and DIASTAT AcuDial, used by patients with epilepsy who need to control bouts of increased seizure activity.

- Drugs in the pipeline include: retigabine for the treatment of epilepsy and pain, taribavirin for the treatment of chronic hepatitis C, and compounds for the treatment of rosacea and oral acne.

Writing by Solarina Ho; editing by Mario Di Simine

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