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Biovail Corporation

Pharmaceutical company amends 2004 stock option plan proposal

Published in Pharma Investments, Ventures and Law Weekly, July 11th, 2004

Biovail Corporation (BVF, BVF) announced that the company's board of directors has amended its proposal to adopt a new stock option plan as described in the company's 2004 Proxy Statement, subject to regulatory approval.

The amended plan will be subject to shareholder approval at Biovail's annual and special meeting on June 25, 2004.

Under the terms of the amended plan, the maximum number of common shares issuable pursuant to the exercise of options will be reduced from 10 million to 5 million. Further, the maximum number of common shares issuable pursuant to options to non-employee directors, together with the number of common shares issuable to...

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