Biovail Enters Into a Co-Promotion Arrangement With Reliant Pharmaceuticals.

Business Editors/Health & Medical Writers

TORONTO--(BUSINESS WIRE)--Oct. 29, 2002

Biovail Corporation (NYSE, TSX: BVF) announced today that it has entered into an agreement with privately held New Jersey-based Reliant Pharmaceuticals, LLP to co-promote a number of Biovail products including Teveten(R), Cedax and Rondec. Through this co-promote arrangement Reliant will provide through December 31, 2002 over 650 cardiovascular experienced sales professionals across the United States who have strong established relationships with physicians. This group will be working in tandem with Biovail's existing sales force detailing this group of products.

"This is an excellent opportunity for Biovail to increase the sales momentum we have recently achieved with Teveten(R)," said Eugene Melnyk, CEO and Chairman of Biovail Corporation. "With the support of Reliant's sales force, we anticipate an expansion in the frequency and number of physicians calls that can be achieved which should translate into greater and more rapid market penetration for these products.

"Reliant will be compensated by way of a royalty on the bundle of Biovail products included in this agreement. Therefore, Reliant's financial compensation is tied to the success of the products and has a clear incentive to maximize sales. In addition, Biovail has agreed to participate with Reliant's current lenders in the funding of a revolving term credit facility."

As previously disclosed, Biovail is preparing for the upcoming launch of a new once-daily Cardizem(R) product. In anticipation of this upcoming product launch, Biovail has been aggressively expanding its internal sales organization while also entering into various co-promotion and sales force contracting discussions to further support the launch initiative and expand the frequency and targeting of high prescribing physicians. Biovail has a number of advanced strategies in this regard and will disclose the nature of any future arrangements in this regard at the appropriate time.

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.

Reliant is a privately held company founded in 1999 to market branded, patent protected, ethical pharmaceutical products to primary care and targeted specialty physicians. Reliant currently markets three branded product lines: Lescol(R) (fluvastatin) and Lescol XL, extended release tablets developed by Novartis for cholesterol management; DynaCirc(R) (isradipine) and DynaCirc CR(R), an extended release formulation, also developed by Novartis for the treatment of hypertension; Axid(R) (nizatidine) developed by Eli Lilly for the treatment of GERD and peptic ulcers. Reliant also develops and implements sophisticated life cycle management strategies to extend marketing exclusivity or provide additional patent protection for its products. In addition to investments from the Company's management and Board of Managers, Reliant investors include prominent private investment firms.

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

"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.