Biovail declares quarterly dividend of US$0.095

Aug 5 2010

Biovail Corporation (NYSE, TSX: BVF) today announced that the Company's Board of Directors has declared a quarterly cash dividend of US$0.095 per share payable on October 4, 2010 to shareholders of record at the close of business September 1, 2010. The ex-dividend date is August 30, 2010.

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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