Biovail Appoints Kristine Peterson Senior Vice President, Commercial Operations

Biovail Appoints Kristine Peterson Senior Vice President, Commercial Operations

Business Editors/Health/Medical Writers

TORONTO–(BUSINESS WIRE)–May 6, 2003

Biovail Corporation (NYSE:BVF) (TSX:BVF) announced today that Kristine Peterson has been appointed Senior Vice President, Commercial Operations effective immediately. Ms. Peterson will be responsible for the strategic leadership of Biovail’s United States and Canadian commercial operations as well as identifying internal and external growth opportunities. Ms. Peterson will report directly to Eugene Melnyk, Chairman and Chief Executive Officer, Biovail Corporation.

Ms. Peterson comes to Biovail Pharmaceuticals from Bristol-Myers Squibb (BMS) where she spent twenty years in increasingly senior roles culminating in her most recent role as Senior Vice President of Global Marketing, Drug Discovery & Exploratory Development. In that role, she was responsible for designing the organization to better integrate science and marketing earlier into the Research and Development process and building launch plans for several pipeline brands. Prior to that role, Ms. Peterson was Senior Vice President of Marketing for Bristol-Myers Squibb’s $5+ billion Cardiovascular and Metabolics business in the U.S. During her career at Bristol-Myers Squibb, Ms. Peterson launched several key brands and indications, led large sales organizations, and headed BMS’s generic business. She also played an integral part in building BMS’s Marketing Excellence initiative to enhance the marketing capabilities of its worldwide marketing organizations.

Ms. Peterson co-led efforts to strengthen BMS’s pipeline by refocusing Discovery efforts and played a pivotal commercial role in assessing internal and external opportunities. She also served on the internal Board for the Bristol-Myers Squibb Foundation’s Women Health Philanthropy since 2001. Ms. Peterson holds a Master of Business Administration as well as a B.S. in Marketing, both from the University of Illinois.

“Kris’ extensive experience in customer centric end-to-end product development and commercialization will significantly contribute to the success of Biovail’s strategy of creating enhanced products based on market need and bringing them to market via the most efficient process,” stated Eugene Melnyk, Chairman and Chief Executive Officer, Biovail Corporation. “Kris is a proven leader with the experience and skills to help execute our current growth strategies and also to shape our future growth plans.”

Separately, Biovail announced that Mr. William Poole, President of Biovail Pharmaceuticals, will be leaving the company to pursue other career opportunities. “Bill has been instrumental in furthering Biovail’s U.S. sales and marketing expansion plans as well as the program to increase the capacity of our manufacturing facilities in both Manitoba and Puerto Rico. We wish him well in his future endeavors,” said Eugene Melnyk.

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 ir@biovail.com.

“Safe Harbor” statement under the Private Securities Litigation Reform Act of 1995.

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.

COPYRIGHT 2003 Business Wire

COPYRIGHT 2003 Gale Group