Biovail sales force expansion

Executive Summary

Biovail will create two new specialty sales forces in 2004 - one for cardiovascular products and one for dermatology and obstetrics. The expansion follows the termination of a co-promotion agreement with Reliant, which had been promoting Biovail's Cardizem LA and other cardiovascular products with 250 reps (1"The Pink Sheet" Feb. 10, 2003, p. 27). Reliant will receive $62 mil. as "extinguishment of trailing royalty obligations," Biovail says. The dermatology/obstetrics force will promote the herpes treatment Zovirax...