Biovail Gains US Rights to Wellbutrin XL Brand, Takes on Rivals

GlaxoSmithKline (GSK) is selling its U.S. rights for the antidepressant Wellbutrin XL to its partner Biovail for $510 million. Biovail developed and manufactures Wellbutrin XL (bupropion HCl). The product has been subject to generic competition since late 2006 for the 300-mg dose, and generic competition for the 150-mg dose has been around since the 2008 second quarter, GSK says in a statement. The agreement gives Biovail the right to launch an authorized generic in the U.S. while GSK retains its rights to the drug in markets outside of the U.S., except for Canada.
Drug Industry Daily