M&A Deal Summary

Biovail Acquires Prestwick Pharmaceuticals

On September 17, 2008, Biovail acquired life science company Prestwick Pharmaceuticals

Acquisition Highlights
  • This is Biovail’s 1st transaction in the Life Science sector.
  • This is Biovail’s 1st transaction in the United States.
  • This is Biovail’s 1st transaction in District of Columbia.

M&A Deal Summary
Date 2008-09-17
Target Prestwick Pharmaceuticals
Sector Life Science
Buyer(s) Biovail
Deal Type Add-on Acquisition

Target

Prestwick Pharmaceuticals

Washington, District of Columbia, United States
Prestwick Pharmaceuticals, Inc. is a privately held, U.S.-based pharmaceutical company that holds the Canadian and U.S. licensing rights to Xenazine(R) (tetrabenazine tablets).

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Buyer(S) 1

Buyer

Biovail

Quebec, Canada
Category Company
Founded 1982
Sector Life Science
DESCRIPTION

Biovail Corp. is a specialty pharmaceutical company engaged in the formulation, clinical testing, registration, manufacture, and commercialization of pharmaceutical products. The Company is focused on the development and commercialization of medicines that address unmet medical needs in niche specialty central nervous system (CNS) markets.

DEAL STATS #
Overall 1 of 3
Sector (Life Science) 1 of 3
Type (Add-on Acquisition) 1 of 1
State (District of Columbia) 1 of 1
Country (United States) 1 of 3
Year (2008) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2009-05-06 GlaxoSmithKline - Wellbutrin XL

United States

GlaxoSmithKline plc - Wellbutrin XL which is indicated for the treatment of major depressive disorder and seasonal affective disorder, was developed and is manufactured by Biovail and has been distributed by GSK in the United States since September 2003.

Buy $510M
Mergr

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