Biovail Buys U.S. Rights to Two Merck Drugs - TheStreet

Biovail

(BVF)

will pay

Merck

(MRK) - Get Report

$155 million for the U.S. rights to two drugs that treat high blood pressure and congestive heart failure.

Merck will continue making the drugs, Vasotec and Vaseretic, and supply them to Biovail, temporarily providing distribution services to Biovail in exchange for royalties on the future sales of any life cycle products developed and marketed by Biovail in the U.S. Biovail will develop and supply a new dosage of an unspecified Merck product now under development. That agreement is subject to Food and Drug Administration approval, the company noted.

Biovail also said it acquired the fixed-dose combination new drug application of enalapril in combination with diltiazem malate as part of the Merck deal.