Biovail Reports Positive CardizemLA Launch Results.

Business Editors/Health/Medical Writers

TORONTO--(BUSINESS WIRE)--April 29, 2003

-- CardizemLA Prescriptions Exceed 20,000

-- Retail Pharmacy Stocking Reaches 80%

-- Managed Care Negotiations Cover 90% of U.S. Lives

Biovail Corporation (NYSE:BVF)(TSX:BVF) reported today on the progress of Cardizem(R)LA (diltiazem HCl), the recently launched once-daily controlled release medication for the treatment of hypertension. Cardizem(R)LA provides true 24-hour blood pressure coverage and delivers optimal levels of medication in the early morning when patients may be at greater risk of an adverse cardiac event. Launched April 2, 2003, over 20,000 prescriptions have been written for Cardizem(R)LA, more than 45,000 pharmacies -- over 80% of the chain and independent pharmacies in the U.S. -- now have Cardizem(R)LA in stock and Biovail is in active negotiations with 16 of the largest managed care organizations that collectively represent more than 90% of total lives covered in the U.S.

Biovail is currently executing its planned multi-phased approach to the launch of Cardizem(R)LA. A clinical experience program entitled P.L.A.C.E. (Proving LA through Clinical Experience) is being conducted as a means of introducing the unique attributes of Cardizem(R)LA to patients through targeted physicians. To ensure these prescriptions are filled prior to the completion of the retail stocking program, the prescriptions written during Phase I were filled through select mail order pharmacies. These mail order organizations do not report to IMS or NDC data tracking systems. As a result, there are 20,000 prescriptions filled over and above the total that appears in the IMS or NDC prescription summary data.

Phase II of the Cardizem(R)LA launch plan began today and a high level retail stocking campaign has been initiated. Product supply has been shipped to over 45,000 pharmacies. Phase II also involves sales force detailing of an expanded target group of doctors. In this phase, all prescriptions will be filled through the usual retail and mail order channels that report to IMS and NDC.

Early progress with managed care organizations such as PBMs, HMOs and state Medicaid programs has been exceptional. Currently, Biovail is in active negotiations with 16 of the largest managed care organizations that collectively represent more than 90% of total lives covered in the U.S. Specifically, the company is in mid-to-late stage negotiations with several large customers and expects to enter into agreements that will provide favorable formulary coverage for Cardizem(R)LA. The unique clinical profile of this product, combined with the compelling economic proposition, continues to resonate with the target customer base.

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 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.