CBCnews
Story Tools: EMAIL | PRINT | Text Size: S M L XL | REPORT TYPO | SEND YOUR FEEDBACK | Bookmark and Share

Biovail insomnia drug gets tentative FDA approval

Last Updated: Friday, May 27, 2005 | 4:09 PM ET

CBC News
Drug-maker Biovail has won tentative approval from the U.S. Food and Drug Administration for its immediate-release version of a zolpidem tartrate drug to combat insomnia.

The drug is currently marketed in the U.S. as Ambien and is sold by Sanofi-Aventis. Its patent doesn't expire until October 2006 and Biovail said it didn't expect final FDA approval until the expiry of the Sanofi-Aventis patent.

Biovail (TSX:BVF) said its version is easier for people to take because it dissolves in the mouth so doesn't need to be swallowed.




"Given that insomnia tends to occur more frequently in patients over the age of 60, we believe that our ODT [oral disintegrating tablet] version of zolpidem tartrate will provide health-care practitioners, upon final approval, with another viable treatment option to treat transient and intermittent sleep difficulties," Biovail CEO Douglas Squires said in a statement.

Biovail said research shows that up to 40 per cent of adults have had trouble swallowing tablets. Its new formulation of zolpidem is the first to use its easy-to-take formulation, which it is marketing as Ceform.

Zolpidem drugs currently generate about $2 billion a year in sales. Biovail said it expects to sign on with a strategic partner to market and distribute its zolpidem drug in the U.S., but hopes to do all the manufacturing of the drug itself.

Biovail shares gained 3 cents to finish at $20.02 on the TSX.

  • This story is now closed to commenting.
Story Tools: EMAIL | PRINT | Text Size: S M L XL | REPORT TYPO | SEND YOUR FEEDBACK | Bookmark and Share
 

Find the best interest rates

Sponsored Feature

Select a product  

Close Close this window

Sponsored Feature

Rate Comparison

Banks & Trusts Interest Rate Minimum Deposit Features
Home Trust Company 0.85% $2,500  
Equitable Trust 0.80% $5,000  
Ally 0.75% $1 Guaranteed earnings. No minimums, fees or service charges.
SunLife Financial Trust 0.70% $1,000  
ResMor Trust 0.65% $5,000  
ICICI Bank Canada 0.50% $1,000  
ING Direct 0.50% $1  
Peoples Trust 0.50% $5,000  
Pacific & Western Bank 0.45% $5,000  
Bank West 0.35% $5,000  
Banks & Trusts Interest Rate Minimum Deposit Features
Home Trust Company 1.25% $2,500  
ResMor Trust 1.10% $5,000  
Ally 1.00% $1 Guaranteed earnings. No minimums, fees or service charges.
Equitable Trust 0.85% $5,000  
SunLife Financial Trust 0.80% $1,000  
Pacific & Western Bank 0.70% $5,000  
ING Direct 0.50% $1  
Manulife Bank 0.50% $25,000  
Peoples Trust 0.50% $5,000  
General Bank of Canada 0.50% $25,000  
Banks & Trusts Interest Rate Minimum Deposit Features
Home Trust Company 1.25% $2,500  
ResMor Trust 1.10% $5,000  
Ally 1.10% $1 Guaranteed earnings. No minimums, fees or service charges.
Equitable Trust 0.85% $5,000  
SunLife Financial Trust 0.80% $1,000  
Pacific & Western Bank 0.75% $5,000  
Manulife Bank 0.50% $25,000  
Peoples Trust 0.50% $5,000  
General Bank of Canada 0.50% $25,000  
ING Direct 0.50% $1  
Banks & Trusts Interest Rate Minimum Deposit Features
Ally 1.75% $1 No-Penalty option, no fees, daily compounded interest.
Home Trust Company 1.55% $1,000  
Pacific & Western Bank 1.55% $1,000  
ResMor Trust 1.46% $1,000  
SunLife Financial Trust 1.45% $1,000  
Community Trust 1.35% $1,000  
Korea Exchange Bank 1.30% $3,500  
State Bank of India (C) 1.30% $2,000  
ING Direct 1.25% $1  
Alterna Bank 1.20% $500  
Banks & Trusts Interest Rate Minimum Deposit Features
Ally 2.30% $1 Guaranteed earnings. No minimums, fees or service charges.
ING Direct 2.25% $1  
Pacific & Western Bank 2.15% $1,000  
Home Trust Company 2.15% $1,000  
ResMor Trust 2.11% $1,000  
SunLife Financial Trust 2.05% $1,000  
State Bank of India (C) 2.00% $2,000  
Korea Exchange Bank 2.00% $3,500  
Community Trust 1.95% $1,000  
HomEquity Bank 1.90% $5,000  
Banks & Trusts Interest Rate Minimum Deposit Features
Ally 2.75% $1 Guaranteed earnings. No minimums, fees or service charges.
Alterna Bank 2.75% $500  
Home Trust Company 2.65% $1,000  
SunLife Financial Trust 2.65% $1,000  
ResMor Trust 2.60% $1,000  
HomEquity Bank 2.55% $5,000  
Manulife Bank 2.50% $2,500  
ING Direct 2.50% $1  
President's Choice Fin'l 2.50% $500  
State Bank of India (C) 2.50% $2,000  
Banks & Trusts Interest Rate Minimum Deposit Features
Ally 3.60% $1 Guaranteed earnings. No minimums, fees or service charges.
SunLife Financial Trust 3.45% $1,000  
Home Trust Company 3.35% $1,000  
Pacific & Western Bank 3.30% $1,000  
B2B Trust 3.30% $500  
President's Choice Fin'l 3.25% $500  
ING Direct 3.25% $1  
HomEquity Bank 3.25% $5,000  
Manulife Bank 3.25% $2,500  
Canadian Western Bank 3.20% $500  
Banks & Trusts Interest Rate Minimum Deposit Features
Peoples Trust 2.10% $0  
Ally 2.00% $0 No minimums, no fees, daily compounded interest.
State Bank of India (C) 1.25% $1,000  
Canadian Tire Bank 1.20% $0  
ICICI Bank Canada 1.20% $0  
ING Direct 1.05% $0  
Amex Bank of Canada 1.00% $0  
Manulife Bank 1.00% $0  
Alterna Bank 0.85% $0  
Royal Bank of Canada 0.75% $0  
Banks & Trusts Interest Rate Minimum Deposit Features
Ally 2.00% $0 Invest up to $5000/year tax-free, withdraw at any time.
State Bank of India (C) 1.75% $0  
Bank of Nova Scotia 1.50% $0  
Canadian Tire Bank 1.50% $0  
ICICI Bank Canada 1.40% $0  
ING Direct 1.05% $0  
President's Choice Fin'l 1.00% $0  
Manulife Bank 1.00% $0  
BMO Bank of Montreal 1.00% $0  
HSBC Bank Canada 0.80% $0  

Money Headlines

Ottawa will stay course on stimulus: Flaherty Video
Rather than turning off the stimulus taps or pouring more fuel on the economic fire, Ottawa will stand pat with the $61 billion in stimulus spending announced in January, Finance Minister Jim Flaherty says.
Canada Post struggles to innovate
Canada's postal service is reinventing itself as it struggles to make up for dwindling demand in the face of a devastating global economic slowdown.
The 10-billion-barrel battle
Henry Lyatsky wants B.C.'s coast opened to oil drilling but environmentalists stand opposed.
CAW, Johnson Controls reach tentative deal Video
After a successful late-night bargaining session, the Canadian Auto Workers Union and management at Johnson Controls have reached a tentative agreement on a new three-year labour deal.
Agrium's bid for CF stumbles
Calgary-based Agrium has suffered a setback in its bid to take over rival CF Industries.

Money Features

SMALL BUSINESSFeatures & video
Issues, trends and tricks that entrepreneurs need to know about
ECONOMYWashington
Birthday for a bailout
BUSINESSTwitter
Follow Amanda Lang and Kevin O'Leary
ECONOMYStrategic thinking
Friedman's theory finds little traction in economic recovery
ECONOMYInflation
MONEY TALKSMichael Hlinka
Those longer mortgages are going to hit retirement plans hard
More Features

Top CBCNews.ca Headlines

Headlines

McCain argues against Afghanistan exit date Video
U.S. Senator John McCain says military exit dates and exit strategies in Afghanistan should not even be discussed until NATO gets the upper hand in its fight against Taliban militants.
U.S. health-care bill clears Senate hurdle
Democrats united Saturday night to narrowly push historic health-care legislation past a key U.S. Senate hurdle over the opposition of Republicans eager to inflict a punishing defeat on President Barack Obama.
Disgraced N.S. bishop's replacement named Video
The Roman Catholic Church has appointed a replacement for Bishop Raymond Lahey, of the Diocese of Antigonish, N.S., who is facing child pornography charges.
Rocket hits luxury hotel in Afghan capital
At least two people were hurt when a rocket struck a wall of the heavily guarded Serena Hotel in Kabul, the Interior Ministry says.
Vancouver Island evacuation order lifted Video
An evacuation order has been lifted for hundreds of south Vancouver Island residents forced from their homes by flooding.