Galephar-Tiazac/ Biovail Deal Clarified

8 October 1995

Puerto Rican company Galephar PR Inc has asked the Marketletter to clarify a recent announcement regarding its "sale" to Canadian group Biovail (Marketletter September 25).

In fact what has happened, Galephar's chairman Ph Baudier explains, is that it has sold its Puerto Rico high-technology production plant to Biovail, with which it has had close collaboration in the registration of Galephar's patented diltiazem controlled-release product Tiazac, in order that the Canadian firm could control production for the American market.

The Galephar Group, or rather its Belgian parent company Laboratoires SMB, however, still retains all patents worldwide and production rights outside the USA.

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