Valeant Pharmaceuticals International and Biovail Corporation Announce Results of Special Meetings of Shareholders

ALISO VIEJO, Calif. & TORONTO--(BUSINESS WIRE)--Valeant Pharmaceuticals International (NYSE: VRX) and Biovail Corporation (NYSE/TSX: BVF) announced that at today’s Special Meetings, each of which had a quorum of shareholders, shareholders of both companies have voted overwhelmingly in favour of the merger-related resolutions. Of the votes cast by Biovail’s shareholders, over 99% were voted in favour of the resolution authorizing the issuance of Biovail common shares necessary to effect the merger with Valeant in accordance with the merger agreement and the name change to “Valeant Pharmaceuticals International, Inc.” Of the votes cast by Valeant’s shareholders, over 99% were voted in favour of the adoption of the merger agreement.