Biovail's 2005 revenue reaches $936M

Canadian drugmaker Biovail says that it achieved revenues of $936.0 million in the full year 2005, compared with the $879.2 million it recorded in 2004. The firm also reported earnings per share, in accordance with US Generally- Accepted Accounting Principles, of $1.48 for the year. The company's share price was negatively affected by fourth-quarter charges relating to its investment in US group Reliant Pharmaceuticals, which reduced net earnings for the period by $2.7 million.

Key product sales during the year

Product sales for the 12-months ended December 31 were $884.3 million, up from $837.1 million in 2004. Leading the way was the antidepressant Wellbutrin XL (bupropion HCl), which produced $354.2 million in revenue for the year. In addition, products in the firm's Zovirax (aciclovir) franchise yielded $95.9 million in 2005, representing a 27% increase on the previous year and a 68.2% US market share. In November, Biovail reported that it had entered into an agreement with USA-based Ortho-McNeil, a Johnson & Johnson company, relating to US marketing and distribution of Biovail's analgesic Ultram ER (tramadol).