Vote Your BLUE Proxy Now
TORONTO--(BUSINESS WIRE)--June 18, 2008--Biovail Corporation (NYSE: BVF) (TSX: BVF) today issued the following statement in order to assist its shareholders who may be confused or misled by the incomplete information issued earlier today by the Dissidents:
Biovail shareholders should be aware that Glass Lewis in fact
recommended "withholding votes from the entire slate of
Dissident nominees" * citing concerns including their
affiliation to Eugene Melnyk.
*Permission to use quotations from the Glass Lewis report was
neither sought nor obtained.
Biovail reminds shareholders that two leading independent proxy
voting and corporate governance advisory firms, RiskMetrics Group
(formerly Institutional Shareholder Services or "ISS") and PROXY
Governance, Inc. have both recommended that Biovail shareholders vote
FOR all the Company's director nominees and against the Dissident
slate.
Biovail advises its shareholders to review the Company's documents
and website to obtain facts that will allow them to make an informed
decision in their choice of a Board of Directors at the Company's June
25, 2008, Annual Meeting of Shareholders. Shareholders are advised to
ignore the Melnyk materials or to view them with skepticism.
Biovail Shareholders: The Proxy to Vote is Blue
Your vote is important, regardless of how many shares you own. Submit
your BLUE proxy today in favour of the election of the slate of
director nominees set out in the Management Proxy Circular and BLUE
proxy.
Voting is a quick and simple process. To be sure your vote is counted
completed BLUE proxies must be received by 10:00 a.m. on June 23,
2008. Due to the limited time available, we recommend voting by
internet, telephone or fax today or no later than 24 hours before the
deadline.
Shareholders with questions or needing assistance in voting their BLUE
proxy are encouraged to call Biovail's Proxy Solicitation Agent,
Georgeson at:
North American Toll-Free: 1-866-676-3028
Bank and Broker and collect calls accepted: 1 -212-440- 9800
Even if you have already voted using the dissident proxy, you have
every right to change your vote simply by executing the BLUE form of
proxy: It is the later-dated proxy that will be counted.
Please discard any proxy or related materials you may have received
from the Dissidents and vote using only the control number on the
BLUE form of proxy.
About Biovail Corporation
Biovail Corporation is a specialty pharmaceutical company, engaged
in the formulation, clinical testing, registration, manufacture, and
commercialization of pharmaceutical products utilizing advanced
drug-delivery technologies. For more information about Biovail, visit
the Company's Web site at www.biovail.com.
Biovail Corporation is a specialty pharmaceutical company, engaged
in the formulation, clinical testing, registration, manufacture, and
commercialization of pharmaceutical products utilizing advanced
drug-delivery technologies. For more information about Biovail, visit
the Company's Web site at www.biovail.com.
CONTACT: Biovail Corporation
Nelson F. Isabel, 905-286-3000
Vice-President, Investor Relations
& Corporate Communications
SOURCE: Biovail Corporation
