FDA approves Biovail's tramadol ER

Shares of Biovail jumped this morning as investors reacted to news that the FDA had given it a three-year period of exclusivity for its tramadol ER painkiller. The regulatory milestone gives Biovail a head start over competitors developing similar therapies, according to analysts. "Being the first-to-market with a once-daily formulation of tramadol is a significant competitive advantage," said Biovail CEO Dr. Douglas Squires. "The additional benefit of three years of market exclusivity only enhances the value of Tramadol ER."

- read this report from the National Post for more