TORONTO--(BUSINESS WIRE)--Biovail Corporation (NYSE:BVF)(TSX:BVF) today announced that a subsidiary of the Company has reached an agreement with the United States Department of Justice (DOJ) in respect of criminal allegations related to activities surrounding the 2003 commercial launch of Cardizem® LA. In particular, the allegations relate to prior management’s actions in 2002 and 2003 in respect of the Cardizem® LA clinical experience program, titled PLACE (Proving L.A. through Clinical Experience). The agreement eliminates any criminal liability for Biovail Corporation arising from this matter, and preserves the Company’s ability to conduct business in the United States. Without this agreement, the Company was at risk of being excluded from doing business with any health program sponsored by the U.S. federal government. These programs represent a material proportion of Biovail’s business.
