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Biovail Corporation was a Canadian pharmaceutical company, operating internationally in all aspects of pharmaceutical products. Its major production facility was located in Steinbach, Manitoba. It merged with Valeant Pharmaceuticals International in 2010. ==SAC/Gradient Analytics lawsuit and SEC complaint== In March 2006, CBS program ''60 Minutes'' featured Biovail in a story about its lawsuit against hedge fund SAC Capital Partners and Camelback (now known as Gradient Analytics), among others. According to Eugene Melnyk, "there’s a group of people that got together and essentially attacked the company by putting out false reports, and we’re just fighting back for our shareholders." 〔("Betting on a Fall", Lesley Stahl, ''60 Minutes'' story on Biovail lawsuit )〕 The alleged conspiracy began with Camelback, an Arizona stock-analysis firm that advertises that it publishes impartial financial reports on companies to help investors evaluate stocks. In the spring of 2003, the hedge fund SAC asked them for a report on Biovail. Darryl Smith, Mark Rosenblum, Demetrios Anifantis, and Robert Ballash, former Camelback employees, alleged that Camelback had allowed their client SAC to determine the content and timing of their reports on Biovail.〔 Camelback said those former employees were lying and disgruntled, that Anifantis and Ballash were fired because of unethical conduct; Smith for poor performance; Rosenblum was laid off. These four say they were let go after they complained to their superiors about Camelback’s practices. SAC denied all the charges in Biovail's lawsuit and said that the decline in the Biovail's stock was due to earnings shortfalls and regulatory investigations.〔 In March, 2008, the United States Securities and Exchange Commission (SEC) sued Biovail and some of its former officers, alleging that "present and former senior Biovail executives, obsessed with meeting quarterly and annual earnings guidance, repeatedly overstated earnings and hid losses in order to deceive investors and create the appearance of achieving earnings goals. When it ultimately became impossible to continue concealing the company's inability to meet its own earnings guidance, Biovail actively misled investors and analysts about the reasons for the company's poor performance." Biovail settled for $10 million US.〔(SEC Charges Biovail Corporation and Senior Executives With Accounting Fraud ), U.S. Securities and Exchange Commission press release, March 24, 2008〕 Gradient Analytics, successor to Camelback, issued a press release stating that the SEC’s suit "confirms the validity of Gradient’s critical analysis of Biovail but raises serious questions about how companies retaliate against analysts with threats, intimidation, and lawsuits."〔(Gradient Analytics' Early Research Identified Same Issues as Charges in SEC Complaint Against Biovail. SEC Credits Analysts Who Questioned Biovail, but Retaliation Against Independent Researchers Through Lawsuits Continues ), Gradient Analytics press release, March 25, 2008 (PDF)〕〔(U.S. and Canada Accuse Drug Maker of Fraud ), Ian Austin, New York Times, March 25, 2008〕 ''60 Minutes'' has been accused of botching the Biovail story by the ''Columbia Journalism Reviews Audit columnist and the New York Times's Joe Nocera, who felt Lesley Stahl accepted Biovail's conspiracy theories about short sellers without proper consideration.〔(60 Minutes Blows Biovail Story )〕〔(60 Minutes’s Biovail Trainwreck (cont.) )〕 SAC and Gradient filed a suit against Biovail for malicious prosecution in February 2010.〔Article by Carol Remond, Dow Jones News, February 18, 2010〕 抄文引用元・出典: フリー百科事典『 ウィキペディア（Wikipedia）』 ■ウィキペディアで「Biovail」の詳細全文を読む スポンサード リンク
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