-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, D7tYHR1GbPTNOIn+SDUUV6JuW3cVxuvirp1YzwdAViHK/41m+PGvc4BDa+xhSnN3 7MmHXCkq6zuR+J2a8ArcNQ== 0000889812-97-000766.txt : 19970326 0000889812-97-000766.hdr.sgml : 19970326 ACCESSION NUMBER: 0000889812-97-000766 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 3 FILED AS OF DATE: 19970325 SROS: AMEX GROUP MEMBERS: A CAP, INC. GROUP MEMBERS: ASSOCIATED CAPITAL LP GROUP MEMBERS: ASSOCIATED CAPITAL OFFSHORE, L.P. GROUP MEMBERS: JAY H. ZISES GROUP MEMBERS: NANCY FRANKEL-ZISES GROUP MEMBERS: SELIG A. ZISES SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: BIOVAIL CORPORATION INTERNATIONAL CENTRAL INDEX KEY: 0000885590 STANDARD INDUSTRIAL CLASSIFICATION: PHARMACEUTICAL PREPARATIONS [2834] IRS NUMBER: 000000000 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-45947 FILM NUMBER: 97562699 BUSINESS ADDRESS: STREET 1: 2488 DUNWIN DR STREET 2: MISSISSIAUGA CITY: ONTARIO STATE: A6 BUSINESS PHONE: 4162856000 MAIL ADDRESS: STREET 1: 2488 DUNWIN DR STREET 2: MISSISSAUGA CITY: ONTARIO STATE: A6 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: ASSOCIATED CAPITAL LP CENTRAL INDEX KEY: 0000864939 STANDARD INDUSTRIAL CLASSIFICATION: [] STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A BUSINESS ADDRESS: STREET 1: 521 5TH AVE 12TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10175 BUSINESS PHONE: 2128729662 MAIL ADDRESS: STREET 1: 521 5TH AVE 12TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10175 SC 13D/A 1 AMENDMENT NO. 2 TO STATEMENT OF BENEFICIAL OWNERSHIP UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13D Under the Securities Exchange Act of 1934 (Amendment No. 2)* Biovail Corporation International - -------------------------------------------------------------------------------- (Name of Issuer) Common Stock, no par value - -------------------------------------------------------------------------------- (Title of Class of Securities) 09067k106 - -------------------------------------------------------------------------------- (CUSIP Number) Associated Capital, L.P. Associated Capital Offshore, L.P. Margery K. Neale, Esq. A Cap, Inc. Shereff, Friedman, Hoffman & Goodman, LLP Jay H. Zises 919 Third Avenue Selig A. Zises New York, New York 10022 Nancy J. Frankel-Zises (212) 758-9500 - -------------------------------------------------------------------------------- (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) March 20, 1997 ------------------------------------------------------- (Date of Event which Requires Filing of this Statement) If the filing person has previously filed a statement on Schedule 13G to report the acquisition which is the subject of this Schedule 13D, and is filing this schedule because of Rule 13d-1(b)(3) or (4), check the following box |_|. Check the following box if a fee is being paid with the statement |_|. (A fee is not required only if the reporting person: (1) has a previous statement on file reporting beneficial ownership of more than five percent of the class of securities described in Item 1; and (2) has filed no amendment subsequent thereto reporting beneficial ownership of five percent or less of such class.) (See Rule 13d-7.) Note: Six copies of this statement, including all exhibits, should be filed with the Commission. See Rule 13d-1(a) for other parties to whom copies are to be sent. *The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page. The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes). SCHEDULE 13D - -------------------------------------------------------------------------------- CUSIP No. 09067k106 Page 2 of 16 Pages - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON ASSOCIATED CAPITAL, L.P. - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |X| (b) |_| - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS WC - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) |_| - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION DELAWARE - -------------------------------------------------------------------------------- 7 SOLE VOTING POWER 562,500 NUMBER OF ---------------------------------------------------------------- SHARES 8 SHARED VOTING POWER BENEFICIALLY ---------------------------------------------------------------- OWNED BY 9 SOLE DISPOSITIVE POWER EACH 562,500 REPORTING ---------------------------------------------------------------- PERSON 10 SHARED DISPOSITIVE POWER WITH - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 562,500 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* |_| - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 2.2% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* PN - -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7 (INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION. - -------------------------------------------------------------------------------- SCHEDULE 13D CUSIP No. 09067k106 Page 3 of 16 Pages - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON ASSOCIATED CAPITAL OFFSHORE, L.P. - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |X| (b) |_| - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS WC - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) |_| - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION CAYMAN ISLANDS - -------------------------------------------------------------------------------- 7 SOLE VOTING POWER 18,000 NUMBER OF ---------------------------------------------------------------- SHARES 8 SHARED VOTING POWER BENEFICIALLY ---------------------------------------------------------------- OWNED BY 9 SOLE DISPOSITIVE POWER EACH 18,000 REPORTING ---------------------------------------------------------------- PERSON 10 SHARED DISPOSITIVE POWER WITH - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 18,000 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* |_| - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 0.0% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* PN - -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7 (INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION. - -------------------------------------------------------------------------------- SCHEDULE 13D CUSIP No. 09067k106 Page 4 of 16 Pages - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON A CAP, INC. - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |X| (b) |_| - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS WC - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) |_| - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION NEW YORK - -------------------------------------------------------------------------------- 7 SOLE VOTING POWER 580,500 NUMBER OF --------------------------------------------------------------- SHARES 8 SHARED VOTING POWER BENEFICIALLY --------------------------------------------------------------- OWNED BY 9 SOLE DISPOSITIVE POWER EACH 580,500 REPORTING --------------------------------------------------------------- PERSON 10 SHARED DISPOSITIVE POWER WITH - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 580,500 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* |_| - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 2.3% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* CO - -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7 (INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION. - -------------------------------------------------------------------------------- SCHEDULE 13D CUSIP No. 09067k106 Page 5 of 16 Pages - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON JAY H. ZISES - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |X| (b) |_| - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS WC, PF, 00 - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) |_| - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION UNITED STATES - -------------------------------------------------------------------------------- 7 SOLE VOTING POWER 940,343 NUMBER OF ---------------------------------------------------------------- SHARES 8 SHARED VOTING POWER 106,949 BENEFICIALLY ---------------------------------------------------------------- OWNED BY 9 SOLE DISPOSITIVE POWER 940,343 EACH ---------------------------------------------------------------- REPORTING 10 SHARED DISPOSITIVE POWER PERSON 106,949 WITH - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,047,292 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* |_| - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 4.1% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* IN - -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7 (INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION. - -------------------------------------------------------------------------------- SCHEDULE 13D CUSIP No. 09067k106 Page 6 of 16 Pages - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON SELIG A. ZISES - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |X| (b) |_| - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS PF, OO - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) |_| - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION UNITED STATES - -------------------------------------------------------------------------------- 7 SOLE VOTING POWER 416,936 NUMBER OF ---------------------------------------------------------------- SHARES 8 SHARED VOTING POWER 193,929 BENEFICIALLY ---------------------------------------------------------------- OWNED BY 9 SOLE DISPOSITIVE POWER 416,936 EACH ---------------------------------------------------------------- REPORTING 10 SHARED DISPOSITIVE POWER PERSON 193,929 WITH - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 610,865 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* |_| - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 2.4% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* IN - -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7 (INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION. SCHEDULE 13D - Amendment No. 2 This Amendment No. 2 amends and supplements the Statement on Schedule 13D filed with the Securities and Exchange Commission on September 28, 1995 (the "Statement") with respect to the common stock, no par value per share, of Biovail Corporation International (the "Common Stock"). Only those items of the Statement that are amended and supplemented hereby are included herein. Unless otherwise defined herein, all capitalized terms shall have the respective meanings ascribed to them in the Statement. Item 2. Identity and Background (a), (b), (c) and (f) Associated Capital Offshore, L.P., a Cayman Islands limited partnership ("Associated Offshore"), is being added to the Reporting Persons originally specified in the Statement. The business address of Associated Offshore is c/o Goldman Sachs (Cayman) Trust, Limited, P.O. Box 896, George Town, Grand Cayman, Cayman Islands, British West Indies. The principal business of Associated Offshore is investments. Item 3. Source and Amount of Funds The information contained in Item 3 to the Schedule is hereby amended and supplemented as follows: Associated Capital purchased an aggregate of 45,500 shares at an aggregate cost of $1,381,437.50, using its own funds. Associated Offshore purchased an aggregate of 48,000 shares at an aggregate cost of $1,299,305.50. Jay H. Zises purchased an aggregate of 33,000 shares of Common Stock for his personal and retirement accounts at an aggregate cost of $967,625.00, using his own funds. Selig A. Zises purchased an aggregate of 218,700 shares of Common Stock, and options to purchase 192,500 shares of Common Stock, for his personal and retirement accounts at an aggregate cost of $5,350,681 and $348,520.75, respectively, using his own funds. The 52,000 shares of Common Stock, and options to purchase 181,000 shares of Common Stock, acquired by Lynn Zises were acquired at an aggregate cost of $1,350,937.50 and $408,689.25, respectively, using her own funds. All of the amounts reported herein are net of commissions. Item 5. Interest in Securities of the Issuer The information contained in Item 5 to the Schedule is hereby amended and supplemented as follows: (a) and (b) Associated is the beneficial and record owner of 562,500 shares of 7 Common Stock, or 2.2% of the outstanding shares of Common Stock. Associated Offshore is the beneficial and record owner of 18,000 shares of Common Stock, or less than 0.1% of the outstanding shares of Common Stock. As the general partner of Associated, A Cap has the sole power to vote and to direct the voting of and the sole power to dispose and direct the disposition of the 562,500 shares of Common Stock owned by Associated. As the investment manager or Associated Offshore, A Cap has the sole power to vote and to direct the voting of and the sole power to dispose and direct the disposition of the 18,000 shares of Common Stock owned by Associated Offshore.1 Accordingly, A Cap may be deemed to be the beneficial owner of such 580,500 shares of Common Stock or 2.3% of the outstanding shares of Common Stock. Jay Zises, as President of A Cap, has the sole power to vote and to direct the voting of, and to dispose and to direct the disposition of, the shares of Common Stock deemed to be beneficially owned by A Cap. Accordingly, Mr. Zises may be deemed to be the beneficial owner of such 580,500 shares of Common Stock or 2.3% of the outstanding shares of Common Stock. Jay Zises is the beneficial and record owner of an aggregate of 350,486 shares of Common Stock or 1.4% of the outstanding in his personal account, individual retirement account ("IRA") and Keogh account. As hereinafter described, Mr. Zises also may be deemed to own beneficially an additional 116,306 shares of Common Stock or 0.5% of the outstanding. Such shares are owned of record as follows: (i) 18,391 shares of Common Stock (0.1%) in the account of his son, Justin Zises, (ii) 9,357 shares of Common Stock (less than 0.1%) held in an UGMA account for the benefit of his daughter, Meryl Zises, (iii) 18,391 shares of Common Stock (0.1%) in the account of his daughter, Lara Zises, (iv) 18,391 shares of Common Stock (0.1%) in the account of his daughter, Samantha Zises, (v) 23,388 shares of Common Stock (0.1%) in the account of his ex-wife, Susan Zises, and (vi) 28,388 shares of Common Stock (0.1%) in the account of his mother-in-law, Inge Frankel. In addition to the 562,500 shares of Common Stock owned by Associated and the 18,000 shares of Common Stock owned by Associated Offshore, Jay Zises has sole power to vote or direct the vote of, and to dispose and to direct the disposition of, 359,843 shares of Common Stock, consisting of (A) the 350,486 shares held in Mr. Zises's personal, IRA and Keogh accounts, and (B) the 9,357 shares held in the UGMA account for Meryl Zises. Jay Zises has shared power to vote or direct the voting of, and shared power to dispose or direct the disposition of 106,949 shares of Common Stock, consisting of (A) the 18,391 shares held in Lara Zises's account, (B) the 18,391 shares held in Samantha Zises's account, (C) the 18,391 shares held in Justin Zises's account, (D) the 23,388 shares held in Susan Zises's account, and (E) the 28,388 - ---------- 1 A Cap. Ltd., a Cayman Islands company, is the sole general partner of Associated Offshore. A Cap Ltd. has delegated all of its discretionary authority over the investments of Associated Offshore to A Cap as investment manager. 8 shares held in Inge Frankel's account. Selig A. Zises is the beneficial and record owner of an aggregate of 315,436 shares of Common Stock and options to purchase 101,500 shares of Common Stock, totalling 1.6% of the outstanding, in Mr. Zises's personal account and IRA. In addition, as described below, Mr. Zises also may be deemed to own beneficially an additional 147,929 shares of Common Stock and options to purchse 46,000 shares of Common Stock, totalling 0.8% of the outstanding, held in the account of his daughter, Lynn Zises. Selig A. Zises has sole power to vote or direct the voting of, and sole power to dispose or direct the disposition of 416,936 shares of Common Stock, consisting of all of the shares and options held in Mr. Zises's personal and IRA accounts. Selig A. Zises has shared power to vote or direct the voting of, and shared power to dispose or direct the disposition of 193,929 shares of Common Stock, consisting of the shares and options held in Lynn Zises's account. The number of shares beneficially owned by each of the Reporting Persons and the percentage of outstanding shares represented thereby, have been computed in accordance with Rule 13d-3 under the Securities Exchange Act of 1934, as amended (the "Securities Exchange Act"). Item 6. Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer Selig A. Zises has an arrangement with a registered broker-dealer whereby he is obligated to deliver 162,500 shares of Common Stock to such broker-dealer. Lynn Zises has an arrangement with a registered broker-dealer whereby she is obligated to deliver 130,500 shares of Common Stock to such broker-dealer. Item 7. Material to be Filed as Exhibits Exhibit A. Agreement of Joint Filing. Exhibit B. Purchases of Common Stock and options to purchase Common Stock of Issuer. 9 Signature After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. ASSOCIATED CAPITAL, L.P. By: A CAP, INC., as General Partner By: /s/ Jay H. Zises, President ---------------------------------------- Jay H. Zises, President ASSOCIATED CAPITAL OFFSHORE, L.P. By: A CAP, LTD., as General Partner By: /s/ J.D. Hunter ---------------------------------------- J.D. Hunter, Managing Director A CAP, INC. By: /s/ Jay H. Zises, President --------------------------------------- Jay H. Zises, President /s/ Jay H. Zises -------------------------------------------- JAY H. ZISES /s/ Selig A. Zises -------------------------------------------- SELIG A. ZISES /s/ Nancy Frankel-Zises -------------------------------------------- NANCY FRANKEL-ZISES Dated: March 21, 1997 EX-99.A 2 AGREEMENT OF JOINT FILING EXHIBIT A AGREEMENT OF JOINT FILING In accordance with Rule 13d-1(f) under the Securities Exchange Act of 1934, as amended, the undersigned hereby agree to the joint filing with all other Reporting Persons (as such term is defined in the Schedule 13D referred to below) of a statement on Schedule 13D or any amendments thereto, with respect to the Common Stock, no par value, of Biovail Corporation International and that this Agreement be included as an Exhibit to such filing. This Agreement may be executed in any number of counterparts each of which shall be deemed to be an original and all of which together shall be deemed to constitute one and the same Agreement. IN WITNESS WHEREOF, the undersigned hereby execute this Agreement on the 21st day of March, 1997. ASSOCIATED CAPITAL, L.P. By: A CAP, INC., as General Partner By: /s/ Jay H. Zises, President --------------------------- Jay H. Zises, President ASSOCIATED CAPITAL OFFSHORE, L.P. By: A CAP, LTD., as General Partner By: /s/ J.D. Hunter --------------------------- J.D. Hunter, Managing Director A CAP, INC. By: /s/ Jay H. Zises, President --------------------------- Jay H. Zises, President /s/ Jay H. Zises, ------------------------------ Jay H. Zises /s/ Selig A. Zises, ------------------------------ Selig A. Zises /s/ Nancy Frankel-Zises, ------------------------------ Nancy Frankel-Zises EX-99.B 3 TRANSACTION SUMMARY EXHIBIT B TRANSACTION SUMMARY Biovail Corporation International From 6/11/96 to 3/20/97 Trade Date # of Shares Price Net $ ---------- ----------- ----- ----- Associated Capital, 06/11/96 10,000 $36.750 $367,500.00 - ------------------ 06/19/96 5,000 $34.375 $171,875.00 L.P. 06/24/96 5,000 $31.000 $155,000.00 - ---- 12/27/96 17,500 $27.375 $479,062.50 12/31/96 8,000 $26.000 $208,000.00 SUBTOTAL 562,500 $5.224 $2,938,566.64 ======== ======= ====== ============= Associated Capital 09/06/96 5,000 $135,300.00 - ------------------ 09/09/96 -5,000 ($158,444.70) Offshore, L.P. 09/09/96 5,000 $154,050.00 - -------------- 09/13/96 2,500 $78,275.00 09/24/96 -5,000 ($171,569.27) 09/25/96 -2,500 ($90,784.46) 09/27/96 5,000 $171,862.50 11/15/96 5,000 $149,050.00 12/12/96 5,000 $134,675.00 12/17/96 1,000 $26,247.50 12/19/96 1,500 $40,777.50 12/27/96 -5,000 ($135,945.46) 12/27/96 -5,000 ($135,945.46) 12/27/96 -5,000 ($135,945.46) 12/27/96 -1,000 ($27,189.09) 12/27/96 -1,500 ($40,783.63) 03/05/97 15,000 $345,138.00 03/11/97 3,000 $63,930.00 SUBTOTAL 18,000 ======== ====== Justin Zises 01/09/97 -1,000 $27.125 ($27,125.00) - ------------ 01/09/97 -1,000 $27.000 ($27,000.00) 01/10/97 -1,000 $27.500 ($27,500.00) 01/13/97 -1,000 $27.500 ($27,500.00) 01/14/97 -1,000 $28.125 ($28,125.00) SUBTOTAL $18,391 $3.322 $61,099.00 ======== ======= ====== ========== Lara Zises 1/07/97 -1,000 $26.875 ($26,875.00) - ---------- 01/07/97 -1,000 $26.750 ($26,750.00) 01/07/97 -1,000 $27.000 ($27,000.00) 01/08/97 -1,000 $27.125 ($27,125.00) 01/08/97 -1,000 $27.000 ($27,000.00) SUBTOTAL 18,391 $3.458 $30,700.50 ======== ====== ====== ========== Page 12 Samantha Zises - --------------- 01/09/97 -1,000 $27.125 ($27,125.00) 01/09/97 -1,000 $27.000 ($27,000.00) 01/10/97 -1,000 $27.500 ($27,500.00) 01/13/97 -1,000 $27.500 ($27,500.00) 01/14/97 -1,000 $28.125 ($28,125.00) SUBTOTAL 18,391 $3.322 $61,099.00 ======== ====== ====== ========== Selig Zises - ----------- 07/16/96 97,000 $22.760 $2,207,720.00 07/16/96 5,000 $22.485 $112,425.00 07/16/96 5,000 $26.000 $130,000.00 07/16/96 5,000 $26.500 $132,500.00 07/19/96 4,100 $29.625 $121,462.50 07/19/96 900 $29.500 $26,550.00 07/19/96 2,500 $22.760 $56,900.00 07/19/96 11,000 $26.375 $290,125.00 08/14/96 1,000 $25.375 $25,375.00 08/14/96 1,000 $25.500 $25,500.00 08/14/96 500 $25.750 $12,875.00 08/19/96 1,000 $25.625 $25,625.00 08/19/96 9,000 $25.500 $229,500.00 10/09/96 10,000 $36.826 $368,261.00 10/09/96 -300 $34.750 ($10,425.00) 10/09/96 -400 $34.875 ($13,950.00) 10/09/96 -2,300 $35.000 ($80,500.00) 10/09/96 -2,000 $34.875 ($69,750.00) 10/10/96 -5,000 $35.918 ($179,587.50) 10/10/96 -1,000 $35.000 ($35,000.00) 10/10/96 -500 $34.875 ($17,437.50) 10/10/96 -1,500 $35.000 ($52,500.00) 10/10/96 -1,000 $34.750 ($34,750.00) 10/10/96 -1,000 $34.875 ($34,875.00) 10/11/96 -5,000 $35.000 ($175,000.00) 10/11/96 -3,100 $34.375 ($106,562.50) 10/11/96 -1,100 $34.500 ($37,950.00) 10/11/96 -3,900 $34.625 ($135,037.50) 10/11/96 -1,900 $34.750 ($66,025.00) 10/11/96 -500 $35.375 ($17,687.50) 10/11/96 -1,500 $35.250 ($52,875.00) 10/11/96 -2,000 $35.000 (70,000.00) 10/11/96 -1,000 $35.125 ($35,125.00) 10/11/96 -1,500 $35.625 ($53,437.50) 10/11/96 -3,500 $35.500 ($124,250.00) 10/14/96 -1,900 $35.750 ($67,925.00) 10/14/96 -1,300 $35.500 ($46,150.00) 10/14/96 -4,800 $35.625 ($171,000.00) 10/14/96 -2,000 $35.875 ($71,750.00) 10/17/96 -800 $35.500 ($28,000.00) 10/17/96 -1,700 $35.500 ($60,350.00) 10/23/96 -500 $35.625 ($17,812.50) Page 13 10/23/96 -3,900 $35.750 ($139,425.00) 10/23/96 -600 $35.875 ($21,525.00) 10/25/96 -2,000 $34.625 ($69,250.00) 10/25/96 -500 $34.750 ($17,375.00) 10/25/96 -2,500 $35.500 ($88,750.00) 10/25/96 -1,800 $34.875 ($62,775.00) 10/25/96 -1,000 $35.000 ($35,000.00) 10/25/96 -700 $34.875 ($24,412.50) 10/28/96 -1,000 $32.625 ($32,625.00) 10/28/96 -1,000 $32.125 ($32,125.00) 10/28/96 -1,000 $32.875 ($32,875.00) 10/29/96 -500 $33.250 ($16,625.00) 10/29/96 -500 $33.000 ($16,500.00) 10/29/96 -1,000 $33.500 ($33,500.00) 10/29/96 -1,000 $34.875 ($34,875.00) 10/29/96 -1,000 $34.750 ($34,750.00) 10/30/96 -2,000 $35.000 ($70,000.00) 10/30/96 -2,500 $34.875 ($87,187.50) 10/30/96 -2,000 $34.625 ($69,250.00) 10/30/96 -500 $34.750 ($17,375.00) 10/30/96 -2,500 $35.000 ($87,500.00) 10/30/96 -2,000 $35.000 ($70,000.00) 10/30/96 -2,500 $35.250 ($88,125.00) 10/31/96 -500 $35.125 ($17,562.50) 10/31/96 -2,500 $35.250 ($88,125.00) 11/15/96 1,000 $31.250 $31,250.00 11/22/96 3,500 $30.500 $106,750.00 11/22/96 1,500 $30.375 $45,562.50 11/25/96 5,000 $30.000 $150,000.00 12/12/96 5,000 $27.750 $138,750.00 01/23/97 -5,000 $28.875 ($144,375.00) 01/23/97 -5,000 $26.750 ($133,750.00) 03/05/97 4,200 $22.750 $95,550.00 03/05/97 5,000 $22.625 $113,125.00 03/17/97 4,000 $22.125 $88,500.00 03/17/97 1,000 $22.000 $22,000.00 03/18/97 4,500 $22.250 $100,125.00 03/20/97 20,000 $22.250 $445,000.00 03/20/97 5,000 $22.250 $111,250.00 03/20/97 6,000 $23.000 $138,000.00 SUBTOTAL 315,436 $6.815 $2,149,651.25 ======== ======= ====== ============= 500 BVF CALLS 06/27/96 50,000 $11.2500 $5,625.00 50 BVF CALLS 07/02/96 -5,000 $13.9250 $696.25 25 BVF CALLS 07/03/96 -2,500 $12.5000 $312.50 25 BVF CALLS 07/09/96 -2,500 $12.1250 $303.13 150 BVF CALLS 07/11/96 -15,000 $9.9373 $1,490.60 250 BVF CALLS 07/12/96 -25,000 $9.0625 $2,275.00 100 BVF CALLS 07/15/96 -10,000 $7.2500 $725.00 600 BVF CALLS 07/16/96 -60,000 $6.5000 $3,900.00 50 BVF CALLS 08/29/96 5,000 $7.8750 $393.75 Page 14 50 BVF CALLS 09/30/96 -5,000 $13.8750 $693.75 100 BVF CALLS 10/31/96 10,000 $6.0000 $600.00 100 BVF CALLS 10/31/96 10,000 $11.4875 $1,148.75 50 BVF CALLS 11/05/96 -5,000 $5.3750 $268.75 50 BVF CALLS 11/06/96 -5,000 $9.0000 $450.00 50 BVF CALLS 11/06/96 -5,000 $4.8750 $243.75 50 BVF CALLS 11/05/96 -5,000 $10.1250 $506.25 40 BVF CALLS 12/02/96 4,000 $8.5000 $340.00 10 BVF CALLS 12/03/96 1,000 $8.3750 $83.75 40 BVF CALLS 12/03/96 5,000 $8.5000 $340.00 10 BVF CALLS 12/03/96 1,000 $8.5000 $85.00 10 BVF CALLS 12/04/96 1,000 $7.1250 $71.25 50 BVF CALLS 12/04/96 5,000 $7.0000 $350.00 90 BVF CALLS 12/04/96 9,000 $7.2500 $652.50 10 BVF CALLS 12/09/96 1,000 $8.5000 $85.00 90 BVF CALLS 12/09/96 9,000 $8.6250 $776.25 100 BVF CALLS 12/12/96 10,000 $6.7500 $675.00 40 BVF CALLS 01/07/97 -4,000 $7.0000 $280.00 10 BVF CALLS 01/07/97 -1,000 $7.1250 $71.25 50 BVF CALLS 01/08/97 -5,000 $6.8750 $343.75 50 BVF CALLS 01/08/97 -5,000 $6.3750 $318.75 50 BVF CALLS 01/14/97 -5,000 $7.8750 $38,969.68 100 BVF CALLS 01/16/97 10,000 $8.0000 $80,804.00 25 BVF CALLS 01/21/97 2,500 $6.3750 $16,141.50 50 BVF CALLS 01/21/97 5,000 $5.1250 $26,029.00 150 BVF CALLS 02/19/97 15,000 $5.6250 $85,575.00 150 BVF CALLS 02/19/97 -15,000 $3.8750 $56,923.00 50 BVF CALLS 03/05/97 5,000 $4.1250 $21,025.00 10 BVF CALLS 03/11/97 1,000 $4.2500 $4,330.00 30 BVF CALLS 03/11/97 3,000 $4.3750 $13,365.00 100 BVF CALLS 03/11/97 10,000 $5.1250 $52,050.00 60 BVF CALLS 03/17/97 6,000 $4.5000 $27,480.00 20 BVF CALLS 03/17/97 2,000 $4.8750 $9,910.00 100BVF CALLS 03/18/97 10,000 $4.8750 $487.50 20 BVF CALLS 03/18/97 2,000 $4.8750 $97.50 SUBTOTAL 101,500 ======= ======= Lynn Zises - ---------- 07/01/96 -50,000 $29.250 ($1,462,500.00) 07/18/96 2,500 $29.750 $74,375.00 07/18/96 1,300 $29.875 $38,837.50 07/18/96 1,200 $29.625 $35,550.00 07/19/96 2,500 $29.375 $73,437.50 07/25/96 5,000 $26.875 $134,375.00 07/24/96 4,000 $30.000 $120,000.00 07/25/96 4,100 $29.750 $121,975.00 07/25/96 1,900 $29.875 $56,762.50 07/30/96 2,500 $27.750 $69,375.00 08/19/96 5,000 $25.250 $126,250.00 Page 15 08/21/96 2,000 $25.750 $51,500.00 03/20/97 15,000 $22.250 $333,750.00 03/20/97 5,000 $22.950 $114,750.00 SUBTOTAL 147,929 $5.802 $858.251.00 ======== ======= ======= =========== 500 BVF CALLS 06/27/96 50,000 11.2500 $5,625.0 - -500 BVF CALLS 07/15/96 -50,000 6.7500 $3,375.00 - -550 BVF CALLS 07/16/96 -55,000 6.5000 $3,575.00 100 BVF CALLS 09/03/96 10,000 11.8750 $1,187.50 10 BVF CALLS 11/18/96 1,000 10.3750 $103.75 10 BVF CALLS 11/18/96 1,000 10.7500 $107.50 230 BVF CALLS 11/18/96 23,000 10.7500 $2,472.50 100 BVF CALLS 11/21/96 10,000 7.1250 $712.50 50 BVF CALLS 11/25/96 5,000 10.8750 $543.75 10 BVF CALLS 11/26/96 1,000 11.3750 $113.75 90 BVF CALLS 11/26/96 9,000 11.5000 $1,035.00 100 BVF CALLS 11/22/96 10,000 7.1250 $712.50 - -100 BVF CALLS 11/29/96 -10,000 9.1250 $90,446.95 - -10 BVF CALLS 11/29/96 -1,000 8.5000 $8,419.71 - -90 BVF CALLS 11/29/96 -9,000 8.8750 $79,152.33 - -100 BVF CALLS 11/29/96 -10,000 9.0000 $89,197.00 - -10 BVF CALLS 01/14/97 -1,000 7.8750 $7,794.73 - -40 BVF CALLS 01/14/97 -4,000 7.7500 $30,674.96 100 BVF CALLS 01/14/97 10,000 7.7500 $78,304.00 10 BVF CALLS 01/17/97 1,000 5.8700 $5,959.00 250 BVF CALLS 01/17/97 25,000 6.6875 $169,187.50 - -250 BVF CALLS 01/17/97 -25,000 8.2500 $204,243.12 250 BVF CALLS 02/19/97 25,000 5.6250 $142,625.00 - -250 BVF CALLS 02/19/97 -25,000 3.8750 $94,871.77 SUBTOTAL 46,000 ======= ====== Jay Zises - --------- 06/24/96 6,000 $20.375 $182,250.00 06/24/96 7,000 $30.875 $216,125.00 06/25/96 2,000 $29.875 $59,750.00 06/25/96 3,000 $30.250 $90,750.00 06/25/96 12,000 $29.500 $354,000.00 03/11/97 1,000 $21.750 $21,750.00 03/11/97 2,000 $21.500 $43,000.00 SUBTOTAL 350,486 $9.214 $3,229,278.00 ======= ======= ====== ============= Current Total: 1,732,536 ========= % Ownership 6.84% ===== Page 16 -----END PRIVACY-ENHANCED MESSAGE-----