Biovail rated at outperform by RBC

RBC Capital markets analyst Douglas Miehm rated Biovail Corp. at outperform, above average risk, on news of the upcoming Anchen and Biovail (partial) summary judgment proceedings that could cause some stock volatility. The court decision will impact the market potential for Wellbutrin XL, according to the analyst. RBC believes that relative to its 2007 earnings-per-share forecast of $2.03, a $0.38 downside is possible if Anchen prevails and launched by September. If Biovail is successful, $0.94 of upside is possible. Shares of the Mississauga, Ont.-based specialty pharmaceutical company were down 16 cents, 0.73%, at $21.72 on volume of 712,700 shares versus the three-month running average of 708,728 shares. (NYSE: BVF)

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