Biovail Files Amended 2006 Annual Report on Form 20-F with United States Securities and Exchange Commission



    TORONTO, June 1 /CNW/ - Biovail Corporation (NYSE, TSX: BVF) announced
today that the Company has filed an amended 2006 Annual Report on Form 20-F
with the United States Securities and Exchange Commission to reflect amended
and restated financial information, as previously announced.

    A copy of Biovail's amended 2006 Annual Report on Form 20-F is available
on the Company's Web site at www.biovail.com.

    Shareholders who wish to receive a hard copy of Biovail's completed
audited financial statements free of charge should contact the Company at
(905) 286-3000 and ask for Investor Relations. Alternatively, shareholders can
forward their request by EMAIL, including their mailing co-ordinates, to
ir@biovail.com.

    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.

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




For further information:

For further information: Biovail Corporation Nelson F. Isabel,
905-286-3000 Vice-President, Investor Relations and Corporate Communications

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BIOVAIL CORPORATION

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