Announced Action for October 4, 2002

Following a public comment period, the Commission has approved the issuance of a modified final consent order in the matter concerning Biovail Corporation (Biovail) and its branded drug Tiazac. Through the modification to the proposed order, Biovail's time to divest the relevant assets has been extended from 90 days after it signed the agreement to 30 days after the order becomes final. This modification is necessary to prevent Biovail from (through no fault of its own) technically violating the order. The Commission vote to approve the final consent order was 5-0. (FTC File No. 011-0094; staff contact is Markus Meier, Bureau of Competition, 202-326-3759; see press release dated April 23, 2002.)