The Wall Street Journal-20080202-Biovail Faces Grand-Jury Investigation

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Biovail Faces Grand-Jury Investigation

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Biovail Corp. said it has been notified by the U.S. attorney's office in Boston that it is the target of a federal grand-jury investigation in connection with activities surrounding the 2003 commercial launch of Cardizem LA, a heart medication.

The Canadian pharmaceutical company had previously disclosed an administrative inquiry, which began in 2003. The probe began after reports in The Wall Street Journal and Barron's revealed Biovail was paying doctors up to $1,000 each to write prescriptions for Cardizem LA and write reports on the drug.

Biovail received subpoenas in July 2003 and October 2007 and has been cooperating "fully" throughout the process.