Biovail Corporation Waives Proxy Voting Cut-Off

TORONTO--(BUSINESS WIRE)--Biovail Corporation (NYSE, TSX: BVF) announced today that its Board of Directors has extended the proxy deposit deadline for the Corporation’s Reconvened Annual Meeting to be held on Friday, August 8, 2008. Proxies may now be deposited with CIBC Mellon Trust Company up to 10:00 a.m. (Toronto time) on August 8, 2008 (the date of the Reconvened Meeting). The proxy deposit extension will allow all shareholders who have not yet had an opportunity to vote to complete and submit their proxy for the Reconvened Meeting.