0000912057-01-532581.txt : 20011008
0000912057-01-532581.hdr.sgml : 20011008
ACCESSION NUMBER: 0000912057-01-532581
CONFORMED SUBMISSION TYPE: 6-K
PUBLIC DOCUMENT COUNT: 2
CONFORMED PERIOD OF REPORT: 20010918
FILED AS OF DATE: 20010918
FILER:
COMPANY DATA:
COMPANY CONFORMED NAME: BIOVAIL CORPORATION INTERNATIONAL
CENTRAL INDEX KEY: 0000885590
STANDARD INDUSTRIAL CLASSIFICATION: PHARMACEUTICAL PREPARATIONS [2834]
FISCAL YEAR END: 1231
FILING VALUES:
FORM TYPE: 6-K
SEC ACT: 1934 Act
SEC FILE NUMBER: 001-14956
FILM NUMBER: 1739698
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
6-K
1
a2059462z6-k.txt
FORM 6-K
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 6-K
REPORT OF FOREIGN ISSUER PURSUANT TO RULE 13a - 16 AND 15d - 16 OF
THE SECURITIES EXCHANGE ACT OF 1934
SEPTEMBER 18, 2001 COMMISSION FILE NUMBER 001-11145
BIOVAIL CORPORATION
(TRANSLATION OF REGISTRANT'S NAME INTO ENGLISH)
2488 DUNWIN DRIVE, MISSISSAUGA, ONTARIO L5L 1J9, CANADA
(ADDRESS OF PRINCIPAL EXECUTIVE OFFICES AND ZIP CODE)
REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE: (416) 285-6000
INDICATE BY CHECK MARK WHETHER THE REGISTRANT FILES OR WILL
FILE ANNUAL REPORTS UNDER COVER OF FORM 20-F OR FORM 40-F
FORM 20-F X FORM 40-F
----- -----
INDICATE BY CHECK MARK WHETHER FOR REGISTRANT BY FURNISHING THE INFORMATION
CONTAINED IN THIS FORM IS ALSO THEREBY FURNISHING THE INFORMATION TO THE
COMMISSION PURSUANT TO RULE 12g 3-2 (b) UNDER THE SECURITIES EXCHANGE ACT OF
1934.
YES NO X
----- -----
1
BIOVAIL CORPORATION INTERNATIONAL
QUARTERLY REPORT
THIS REPORT OF FOREIGN ISSUER ON FORM 6-K IS INCORPORATED BY REFERENCES INTO THE
REGISTRATION STATEMENT ON FORM S-8 OF BIOVAIL CORPORATION (REGISTRATION NO.
333-92229).
PART II - OTHER INFORMATION
99.A ON SEPTEMBER 17, 2001, THE COMPANY ANNOUNCED THE APPROVAL BY THE BOARD
OF DIRECTORS;
o TO REPURCHASE UP TO $120 MILLION OF THE COMPANY'S OUTSTANDING
COMMON SHARES
o CHANGES IN COMPANY MANAGEMENT
THE PRESS RELEASE ISSUED BY THE COMPANY AND FILED WITH THE CANADIAN SECURITY
ADMINISTRATORS AND STOCK EXCHANGES (NYSE / TSE) ATTACHED AS REFERENCE.
2
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
Biovail Corporation
September 18, 2001 By /s/ JOHN R. MISZUK
-------------------------
John R. Miszuk
Vice President, Controller
3
EX-99.A
3
a2059462zex-99_a.txt
EXHIBIT 99.A
[GRAPHIC OMITTED]
CONTACT: Ken Howling
Vice President Finance
(416) 285-6000
FOR IMMEDIATE RELEASE:
* BIOVAIL BOARD APPROVES STOCK-REPURCHASE PROGRAM *
o Board of Directors approves repurchase of up to $120 million of
Biovail's outstanding common shares.
o Board of Directors appoints Eugene Melnyk as Co-Chief Executive
Officer.
o Bruce Brydon appointed Executive Director of Biovail Ventures and
continues as Co-Chief Executive Officer.
TORONTO, Canada, September 17, 2001 - Biovail Corporation (NYSE, TSE:BVF) today
announced that its Board of Directors has authorized the Company to implement a
Stock-Repurchase Program pursuant to which the Company may repurchase up to $120
million of its issued and outstanding common stock, depending on market
conditions and other factors. The common stock will be purchased through open
market transactions on the New York Stock Exchange in accordance with applicable
rules and regulations. Biovail has approximately 141.6 million common shares
outstanding.
Separately, the Board of Directors has formally appointed Chairman of the Board,
Eugene Melnyk, as Co-Chief Executive Officer along with Bruce Brydon. In
addition to acting as Co-Chief Executive Officer, Mr. Brydon has been appointed
Executive Director of Biovail Ventures. Biovail Ventures was established in
January 2000 with a mandate to broaden the Company's commercial relationships
including the licensing of product rights and complementary technologies as well
as research relationships with emerging pharmaceutical, healthcare and life
sciences companies.
Bruce Brydon commented, "We are seeing numerous product licensing and investment
opportunities in therapeutic categories which are of strategic interest to
Biovail. This includes
cardiovascular, pain management, diabetes and oncology products. Several of
these opportunities are in late stage discussions and, subject to successful
negotiations, will provide strategic benefits to Biovail over the coming years."
Eugene Melnyk commented, "Biovail is currently expanding its base business
including the significant expansion of its North American sales force in support
of the pending launch of Cardizem XL and other pharmaceutical brands. The
combination of Biovail's maturing branded product pipeline portfolio and the
numerous strategic investment opportunities with resulting residual product
rights will allow the Company to better leverage it's sales force and fully
maximize its business potential."
Biovail Corporation is an international full-service pharmaceutical company,
engaged in the formulation, clinical testing, registration, manufacture, sale
and promotion of pharmaceutical products utilizing advanced drug delivery
technologies.
"SAFE HARBOR" STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT
OF 1995.
TO THE EXTENT ANY STATEMENTS MADE IN THIS RELEASE CONTAIN INFORMATION THAT
IS NOT HISTORICAL, THESE STATEMENTS ARE ESSENTIALLY FORWARD LOOKING AND ARE
SUBJECT TO RISKS AND UNCERTAINTIES, INCLUDING THE DIFFICULTY OF PREDICTING FDA
APPROVALS, ACCEPTANCE AND DEMAND FOR NEW PHARMACEUTICAL PRODUCTS, THE IMPACT OF
COMPETITIVE PRODUCTS AND PRICING, NEW PRODUCT DEVELOPMENT AND LAUNCH, RELIANCE
ON KEY STRATEGIC ALLIANCES, AVAILABILITY OF RAW MATERIALS, THE REGULATORY
ENVIRONMENT, FLUCTUATIONS IN OPERATING RESULTS AND OTHER RISKS DETAILED FROM
TIME TO TIME IN THE COMPANY'S FILINGS WITH THE SECURITIES AND EXCHANGE
COMMISSION.