Biovail declares quarterly cash dividend of US$0.09 per share

Nov 5 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 January 4, 2010 to shareholders of record at the close of business December 2, 2009. The ex-dividend date is November 30, 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.

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Biovail Corporation

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