BIOVAIL ACQUIRES MONOCOR MARKETING RIGHTS FOR CANADA.

Biovail Corporation (NYSE:BVF) (TSE:BVF), Toronto, Canada, has acquired under license the exclusive marketing and distribution rights in Canada for Monocor (bisoprolol fumarate), a cardio-selective beta-blocker indicated for the treatment of mild to moderate hypertension. Biovail's Canadian marketing division, Crystaal, will market Monocor.

The beta-blocker market in Canada is valued at U.S. $100 million and is growing annually at a rate of 7%. Monocor(R) has been marketed in Europe since 1986 where its market share has grown steadily. In France and Spain, Monocor(R) has captured an 18% share of the Beta-Blocker market. Monocor(R) is also marketed in several other countries, including Japan, where it has attained a market share of 15%.

Eugene Melnyk, chairman of the board, commented: "Monocor will be launched in the second quarter of this year. Crystaal plans to seek approval for additional indications for Monocor(R) including Congestive Heart Failure (CHF). Monocor(R) has recently been approved for CHF in the United Kingdom, which is the third European country to approve Monocor(R) for this indication."

Eugene Melnyk also pointed out: "Monocor(R) will further strengthen our cardiovascular franchise in Canada. Our Primary Care and Hospital Sales Forces currently promote Tiazac(R), Retavase(TM) and Cardiac STATus(TM) in Canada."

Crystaal, a division of Biovail, is engaged in the registration, marketing and distribution of branded pharmaceutical products developed by Biovail or acquired from third parties worldwide. Crystaal also promotes Brexidol(R), Tiazac(R), Retavase(R), Cardiac STATus(TM) and co-promotes Celexa(R) in Canada.

Biovail Corporation is an international full-service pharmaceutical company, engaged in the formulation, clinical testing, registration and manufacture of drug products utilizing advanced drug delivery technologies.

For more information, call 416/285-6000.