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Canadian drugmaker Biovail Corp. said Thursday it posted a loss in the first quarter because of costs involved with licensing a treatment for schizophrenia symptoms and a drug intended to treat a breathing disorder.

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Biovail takes 1Q loss on drug acquisition costs

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A genetic mutation linked to schizophrenia appears to rupture communication between the two areas of the brain believed to be responsible for memory and may be an underlying cause of the brain disorder, U.S. researchers suggested in a study published on Wednesday.

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