US investor suit latest woe for Biovail
This article was originally published in Scrip
Executive Summary
A class action lawsuit has been filed againstBiovail, alleging that it violated US securities laws by making market statements between December 14th, 2006 and July 19th, 2007, which contained misrepresentations concerning the prospects for FDA approval of its investigational product, Aplenzin, a once-daily bupropion salt formulation of the antidepressant Wellbutrin XL (bupropion HCl). The company claims the suit is "without merit" and that it plans to "defend itself vigorously".