Biovail Receives Final Approval for Voltaren XR Generic -- Marketing Partner Teva Launching Immediately --.

Business Editors &Health/Medical Writers

TORONTO--(BW HealthWire)--Feb. 17, 2000

Biovail Corporation International (NYSE:BVF)(TSE:BVF) today announced it has received final approval in the U.S. from the Food and Drug Administration (FDA) for its generic version of Voltaren XR. Voltaren XR is indicated for the treatment of osteoarthritis and rheumatoid arthritis. Branded sales of Voltaren XR in the United States for the twelve months ended December 31st, 1999 were $98 million.

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

&uot;Safe Harbor&uot; 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.