Biovail Comments on Wellbutrin XL Global Marketing Status.

Business Editors

TORONTO--(BUSINESS WIRE)--Dec. 9, 2003

Biovail Corporation (NYSE:BVF)(TSX:BVF) confirmed today that GlaxoSmithKline (GSK) has exercised its option pursuant to the agreement between Biovail and GSK with respect to Wellbutrin XL (a once daily version of bupropion HCl). Biovail licensed worldwide (excluding Canada) sales and distribution rights to the product to GSK in October 2001. GSK intends to develop and register the product in the European Union (EU) and in certain other key Western, Central and East European markets, as well as in Asia, Latin America, the Middle East, Africa and certain other emerging world markets. Pursuant to the terms of the agreement, Biovail will manufacture the product to meet GSK's global supply requirements.

"This is a clear indication of GSK's confidence in the product's global potential," commented Eugene Melnyk, Biovail's Chairman and CEO. "This commitment to world-wide commercialization of Wellbutrin XL includes on-going clinical research programs."

Upon successful completion of clinical studies, GSK intends to submit Marketing Authorization Applications for the product from 2006 onwards to secure as wide an approval as possible in EU and in certain other key Western, Central and East European markets.

GSK is currently reviewing its strategies with respect to registration and commercialization of the product in Latin America, Africa, Asia and other emerging markets. As the regulatory regimes in each of the geographic areas differ markedly, GSK is reviewing each jurisdiction in order to determine the optimum filing strategy in order to maximize the commercial value of the product.

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.

For further information, please contact Ken Howling at 905-286-3000 or send inquiries to [e-mail].

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To the extent any statements made in this release contain information that is not historical, these statements are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. We have based these forward-looking statements on our current expectations and projections about future events. Our actual results could differ materially from those discussed in, or implied by, these forward-looking statements. Forward-looking statements are identified by words such as "believe", "anticipate", "expect", "intend", "plan", "will", "may" and other similar expressions. In addition, any statements that refer to expectations, projections or other characterizations of future events or circumstances are forward-looking statements. Forward-looking statements include, but are not necessarily limited 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 and finished products, third parties, 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.