Biovail Corporation InternationalBVF

Morningstar Rating

Stock Research and Analysis

by Brian Laegeler, CPA

Biovail's new strategy involves developing new chemical entities, a major departure from its former focus on improving existing drugs. This change of direction will take time and exposes investors to a greater degree of risk. However, we think the shift Read more

Bulls Say

Biovail remains focused on reducing costs to be in line with revenue during its restructuring period.

Biovail's corporate stewardship appears to be improving under the leadership of Squires and now Wells.

Biovail is generating significant free cash flow while it rebuilds its drug pipeline. Read more

Bears Say

Outstanding legal matters could result in fines greater than we have estimated.

Uncertainty surrounding the patent life of Ultram ER, as well as the size and timing of a replacement product, makes future cash flows a bit of a moving target.

Biovail's purchase of Wellbutrin XL contradicts its strategy to buy new chemical entities. Read more

Strategy

Biovail plans to in-license and develop new chemical entities in the central nervous system category. It expects to restructure operations to keep costs in line with revenue as the company lacks significant Read more

Management

Contrary to its reputation, Biovail has decent stewardship. Most of the company's questionable corporate governance, including the grand jury investigation into the marketing of Cardizem LA, occurred under Eugene Melnyk's watch as CEO. In 2004, Douglas Read more

Profile

Biovail Corporation International is a Canada-based pharmaceutical company that in-licenses and develops specialty drugs in the central nervous system category. Topical Read more

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