Do More With Reuters

Biovail to close plants, take charges, mull sales

Thu May 8, 2008 5:14pm IST
 
Email | Print | | Single Page
[-] Text [+]

TORONTO, May 8 (Reuters) - Biovail Corp (BVF.TO: Quote, Profile, Research) (BVF.N: Quote, Profile, Research) 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)

 
Photo

Catch the latest news, pictures, stats and live race commentary on our special Formula 1 page.  Full Coverage 

Photo

Record oil prices, rising inflation and political uncertainty is spooking investors and the markets. Track the latest on our markets page.  Full Coverage 

Photo

Catch the latest as India acts to quash inflation and guard food supplies.   Full Coverage 

Photo

India and South Asia market Technical Analysis with Phil Smith

REUTERS POLL

What concerns you more:
Nuclear deal
Price rise
Indian cricket team's performance
Symbol Bid Ask
BRENT CRUDE $0.00 $0.00
GOLD $0.00 $0.00
SILVER $0.00 $0.00