12:09 PM EST - Biovail Corp. : said its subsidiary, Biovail Laboratories International SRL, signed a collaboration and license agreement with Alexza Pharmaceuticals Inc. Biovail Laboratories has acquired the U.S. and Canadian rights to commercialize AZ-004 - a novel formulation of loxapine administered via deep lung inhalation using Alexza's proprietary Staccato device. Under the terms of the agreement, Biovail paid an upfront fee of $40 million, and could pay up to $90 million in potential milestones contingent on the successful approval of the first AZ-004 NDA, successful commercial manufacturing scale-up, and the successful completion of additional clinical trials, regulatory submission and approval of a supplemental NDA in the outpatient setting for patients with schizophrenia or bipolar disorder. Biovail Corp.
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