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Posted AT 5:05 PM EDT on 16/05/08

Biovail, U.S. settle over Cardizem

RICHARD BLACKWELL

Globe and Mail Update

Biovail Corp. on Friday settled another of the many legal and regulatory battles that began when founder Eugene Melnyk was running the drug maker, and urged shareholders to put Mr. Melnyk's era behind it. The company said its subsidiary Biovail Pharmaceuticals Inc. will pay $24.6-million (U.S.) to the U.S. Department of Justice to settle allegations related to the launch of its Cardizem heart drug.

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Biovail, U.S. settle over Cardizem

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