Biovail to close plants, take charges, mull sales
TORONTO |
TORONTO May 8 (Reuters) - Biovail Corp BVF.TO BVF.N said on Thursday that it planned to close two of its operations in Puerto Rico, resulting in charges of $80 million to $100 million in the next few quarters.
Canada's biggest publicly traded drugmaker also said it was exploring the sale of some non-core assets. It plans to spend $600 million in research and development of new treatments through to 2012. ($1=$1.00 Canadian) (Reporting by Scott Anderson)
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