Biovail Corporation has extended its agreement with GlaxoSmithKline plc (GSK) for the marketing rights to Zovirax Ointment and Zovirax Cream to 20 years from ten years for a payment of $40 million. Zovirax Ointment is used topically for the treatment of herpes genitalis (genital herpes) and Zovirax Cream is used topically in the treatment of recurrent herpes labialis (cold sores) in adults and adolescents (12 years of age and older).
"We are pleased with the opportunity to extend the duration of our promotion agreement for this market-leading brand," commented Eugene Melnyk, Chairman and CEO of Biovail. "We anticipate receiving U.S. Food and Drug Administration (FDA) approval for Zovirax Cream with an anticipated launch in the second quarter of 2003."
Biovail Corporation is an international full-service pharmaceutical company, engaged in the formulation, clinical testing, registration, manufacture, sale and promotion of pharmaceutical products utilizing advanced drug delivery technologies.