In Brief: Biovail/Hoechst/Marion Merrell Dow
Executive Summary
Biovail/Hoechst/Marion Merrell Dow: Bioavail re-acquires license to its once-daily controlled-release diltiazem from Hoechst-Roussel, which licensed the product in 1993, Biovail says April 3. Hoechst is purchasing a controlling interest in Marion Merrell Dow, which filed a patent infringement suit regarding the diltiazem formulation in November 1993. MMD manufactures its own once-daily diltiazem, Cardizem CD. Biovail and Hoechst filed an antitrust suit against MMD Oct. 19, 1994. Within 30 days of the closing of the MMD deal, Hoechst will "withdraw or otherwise dismiss the patent-related complaint" filed by MMD "with prejudice"; Elan, which manufacturers Cardizem CD for MMD, also must drop its complaint. Hoechst has made a "financial proposal" to Biovail "relating to the withdrawal of the complaint"...