Biovail shareholder group sponsors web site, seeks proxy votes from employees

By Lisa Kerner

Charlotte, N.C., June 6 - The Concerned Shareholders of Biovail Corp. urged company employees to visit www.abetterbiovail.com for instructions on how to prevent management from learning how they voted their Biovail shares, according to a statement released on Friday.

The web site is sponsored by the dissident slate of directors, including Bruce Brydon, mounting a proxy contest to unseat the incumbent management and board of directors of Biovail, the statement said.

Employees who hold their shares through a broker, bank or other intermediary are non-registered or beneficial shareholders. Therefore, their identities are shielded, the shareholder group said.

As previously reported, Biovail is locked in a proxy battle with former chairman and chief executive officer Eugene Melnyk.

The Toronto pharmaceutical company will hold its annual meeting June 25.

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