Biovail Corporation Reports Second-Quarter 2006 Financial Results; Company Records Total Revenues of $253 Million; U.S. GAAP EPS of $0.50; Cash Balances in Excess of $570 Million; Cash Flows from Operations of $111 Million

TORONTO--(BUSINESS WIRE)--Aug. 10, 2006--Biovail Corporation (NYSE:BVF)(TSX:BVF) today announced financial results for the three-month and six-month periods ending June 30, 2006. To the extent that this news release contains forward-looking statements, investors are cautioned that these are based on the Company’s current views, and actual outcomes are not certain. For more information, see the note on forward-looking information following the conference call details in this news release.