The Opportunity

As a result of the consolidation of its manufacturing network, Biovail Laboratories International SRL is offering its Puerto Rican solid dosage manufacturing operation for sale.  As part of this consolidation effort, Biovail has engaged PharmaBioSource, Inc. to market the opportunity to acquire the solid dosage business and assets located in Dorado and Carolina, Puerto Rico.  This summary is intended to provide an overview of the business and facility assets available for acquisition.  Further information regarding the opportunity will be made available to your organization if you express a strong interest to explore it further.

The main site located in Dorado is a fully integrated solid dosage manufacturing and packaging operation with capacity for tablets and capsules.  There are also specialized assets for the manufacturing of controlled release products at the Dorado site.  The Carolina pharmaceutical plant is a smaller solid dosage operation with capacity for pellet/bead manufacturing and capsule filling.
There have been over USD $60 million in capital upgrades to the Dorado facility over the past 8 years as well as USD $6 million in renovations at the Carolina site.  Both facilities have excellent compliance records and are licensed by the FDA.  The Dorado site also has an active DEA license for handling regulated products.

The acquisition of these facilities may also involve a transitional supply contract with Biovail.  This transitional supply contract would allow an acquirer:

• To establish an excellent working relationship with Biovail.
• To generate revenue over the life of the transitional contract.
• Time to develop and validate new products on site.

In parallel with fulfilling the transitional supply contracts, the facilities have the flexibility, management experience and pharmaceutical manufacturing capacity to allow for the development and manufacture of a wide range of new products on site.

The Dorado site was formerly owned and operated by McNeil Pharmaceuticals and acquired by Biovail in 2001.  The facility is situated on close to 20 acres and is located approximately 20 miles from San Juan.  The Carolina site was acquired from Galephar P.R. in 1995.  The facility is located approximately 2 miles from San Juan and is situated on 1.2 acres.

Approximately 350 experienced staff members are employed across the two sites which are led by a highly motivated and experienced management team with a successful track record.