• Financials
• Stock Watch
• Earnings Estimate
• Fundamentals
• Trading Statistics *
• Ratios *
• Balance Sheet Highlights *
• Cash Flow Highlights *
• Income Statement Highlights *
• Shareholder Reports
• Webcasts
• Regulatory Filings
• Product Pipeline
• About Biovail
• The Company
• Business Strategy
• Affiliated Companies
• Corporate Governance
• Press Room
• Contact Us
• Investor Contact
• Analysts
• Request Investor Information
• Corporate Fact Sheet

TORONTO--(BUSINESS WIRE)--Aug. 6, 2009-- Biovail Corporation (NYSE:BVF) (TSX:BVF) today announced that the Company’s Board of Directors has declared a quarterly cash dividend of US$0.09 per share payable on October 5, 2009, to shareholders of record at the close of business September 1, 2009. The ex-dividend date is August 28, 2009.

Important Income-Tax Information for Canadian Resident Shareholders

Biovail Corporation designates the entire amount of this taxable dividend to be an “eligible dividend” for purposes of the Income Tax Act (Canada), as amended from time to time. This notice meets the requirements of the Income Tax Act (Canada). Please contact your tax advisor if you have any questions with regard to the designation of the eligible dividend.

About Biovail Corporation

Biovail Corporation is a specialty pharmaceutical company engaged in the formulation, clinical testing, registration, manufacture, and commercialization of pharmaceutical products. The Company is focused on the development and commercialization of medicines that address unmet medical needs in niche specialty central nervous system (CNS) markets. For more information about Biovail, visit the Company’s Web site at www.biovail.com.

For further information, please contact Nelson F. Isabel at 905-286-3000 or send inquiries to ir@biovail.com.

Source: Biovail Corporation

Biovail Corporation
Nelson F. Isabel, (905) 286-3000
Vice-President, Investor Relations & Corporate Communications