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Biovail Settles Cardizem Suit With Watson Unit

Law360 (December 4, 2007, 12:00 AM EST) -- A Biovail Corp. subsidiary has agreed to grant generics manufacturer Andrx Pharmaceuticals LLC an exclusive patent license to manufacture Biovail's popular hypertension drug Cardizem in exchange for an undisclosed royalty, bringing Biovail's infringement suit to a close, both companies announced Tuesday.

Under the agreement, Andrx, a subsidiary of Watson Pharmaceuticals Inc., may not begin to market generic diltiazem extended-release tablets until April 1, 2009.

Neither a Biovail nor an Andrx spokesperson would disclose more about the terms of the settlement on Tuesday.

The settlement must first...
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