UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported): May 18, 2010

 

BIOVAIL CORPORATION

(Exact name of registrant as specified in its charter)

 

 

 

Registrant’s telephone number, including area code: (905) 286-3000

 

 

(Former name or former address, if changed since last report.)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

o    Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

o    Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

o    Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

o    Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

 

ITEM 5.07             Submission of Matters to a Vote of Security Holders.

 

The following proposals were submitted to the shareholders at the 2010 annual meeting of shareholders of Biovail Corporation (the “Company”) held on May 18, 2010:

 

1.             The election of 12 directors to serve until the close of the 2011 annual meeting of shareholders or until their successors are duly elected and qualified.

 

2.             The re-appointment of Ernst & Young LLP as the Company’s independent auditors for the fiscal year ending December 31, 2010, and the authorization of the Board of Directors to fix the auditors’ remuneration.

 

For more information about the foregoing proposals, please see the Company’s proxy circular and proxy statement filed with the Securities and Exchange Commission on April 21, 2010, the relevant portions of which are incorporated herein by reference.  The results of each matter voted upon are as follows:

 

Board of Director Election Results

 

DIRECTOR NOMINEES		NUMBER OF VOTES IN FAVOR		NUMBER OF VOTES WITHHELD		PERCENTAGE OF VOTES IN FAVOR		PERCENTAGE OF VOTES WITHHELD
Dr. Douglas J.P. Squires		105,205,580		1,863,701		98.26	%	1.74	%
Mr. J. Spencer Lanthier		105,260,487		1,808,794		98.31	%	1.69	%
Mr. Serge Gouin		106,229,592		839,689		99.22	%	0.78	%
Mr. David H. Laidley		100,487,737		6,581,544		93.85	%	6.15	%
Mr. Mark Parrish		106,259,998		809,283		99.24	%	0.76	%
Dr. Laurence E. Paul		106,312,466		756,815		99.29	%	0.71	%
Mr. Robert N. Power		106,550,851		518,430		99.52	%	0.48	%
Mr. Frank Potter		105,833,655		1,235,626		98.85	%	1.15	%
Mr. Lloyd M. Segal		106,417,147		652,134		99.39	%	0.61	%
Sir Louis R. Tull		106,394,367		674,914		99.37	%	0.63	%
Mr. Michael R. Van Every		106,418,916		650,365		99.39	%	0.61	%
Mr. William Wells		106,430,714		638,567		99.40	%	0.60	%

 

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Re-appointment of Ernst & Young LLP as the Company’s independent auditors

 

The Chairman declared, upon a vote by a show of hands, that the shareholders approved the re-appointment of Ernst & Young LLP to serve as independent auditors for the 2010 fiscal year, and authorized the Board of Directors of the Company to fix the remuneration of the independent auditors for that period.  The Company received proxies representing 114,629,418 shares (99.76%) indicating that such shares should be voted in favor of the proposal and proxies representing 278,434 shares (0.24%) indicating that such shares should be withheld.

 

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SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

	BIOVAIL CORPORATION,
	By:	/s/ Jennifer Tindale
		Name:	Jennifer Tindale
		Title:	Vice President, Associate General Counsel and Corporate Secretary

 

Date: May 19, 2010

 

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