corporate profile

Biovail Corporation (TSX,NYSE:BVF) with its corporate headquarters in Mississauga, Ontario, Canada is one of the world's leading specialty pharmaceutical companies, with revenues of US$820.4 million in 2009. Since the 1990's, the company has been engaged in the formulation, clinical testing, registration, manufacture and commercialization of pharmaceutical products, utilizing advanced drug-delivery technologies, both directly and through partners. However, in May 2008, following a comprehensive review of all aspects of its business, Biovail announced a New Strategic Focus, one that builds upon the Company's expertise in drug delivery. In accordance with this New Strategic Focus, Biovail will pursue the development and commercialization of products that target significant unmet medical needs within specialty central nervous system (CNS) disorders.

Biovail's historical business model focused on the exploitation of the Company's oral drug-delivery technologies, including controlled release, graded release, enhanced absorption, rapid absorption, taste masking and oral disintegration, among others. These technologies are highly flexible, providing a broad range of release profiles that can be tailored to the physical, chemical and clinical properties of drug compounds. Biovail has a proven track record of success in developing and manufacturing large commercial quantities of controlled-release drug products, including Wellbutrin XL®, Tiazac® XC, Cardizem®LA and Ultram® ER.

In Canada, Biovail's branded, promoted products - including Tiazac® XC, Wellbutrin XL®, Glumetza®, Ralivia™ and most recently, Nitoman® - are sold and marketed directly to specialists and targeted primary-care physicians by Biovail Pharmaceuticals Canada (BPC). In the United States and other parts of the world, Biovail enters into strategic partnerships with companies with established market positions and expertise in given therapeutic areas to commercialize the products it produces to specialist and primary-care markets. However, in the future, and when appropriate, Biovail intends to develop or acquire a specialty sales force to promote its specialty CNS products directly to specialists in the U.S.

Biovail's current portfolio includes more than 20 products, including branded, legacy and generic medications.

Biovail's principal operating subsidiary, Biovail Laboratories International SRL (BLS), is located in Barbados. BLS holds the intellectual property that underlies Biovail's products. It performs all of the activities that are involved with owning and exploiting a substantial intellectual property portfolio. For example, BLS develops, manufactures, and sells Biovail's pharmaceutical products; its own, manages and controls its intellectual property; and it performs strategic planning and decision-making.

In-house research and development is conducted at Biovail Technologies Ltd. in Chantilly, Virginia

Biovail operates a full-scale, state-of-the-art pharmaceutical manufacturing facility in Steinbach, Manitoba, Canada. The Company also has a facility in Carolina, Puerto Rico.

Biovail Corporation is incorporated in Ontario, Canada under the Canada Business Corporations Act. To view the Company's by-laws, please click here.