Biovail Corporation

Table of Contents

1.0 Abstract
Biovail Corporation, a large pharmaceutical company and had applied advanced drug-delivery technologies to improve the clinical effectiveness of medicines. It is recently had its stock downgraded by a well-known pharmaceutical analyst and a number of other analysts were also scrutinizing the company. The outcome was not favorable, as Biovail 's acquisition methods were labeled as unethical and their accounting practices were questioned. An investor with the company must decide if she will continue to invest in a company that has been identified with low ethical standards.

2.0 Introduction
Biovail Corporation was one of Canada’s largest publicly traded pharmaceutical companies. Its products commercialized both directly in Canada and through strategic partners (internationally). The company was very expert in the development and large scale of manufacturing of pharmaceutical products. Besides that, Biovail’s stock had listed on both the Toronto and New York
Treatment of analyst can see through case of Jerry Treppel, Jerry Treppel had reported that Biovail’s revenue and earnings performance had not been high quality. He also highlighted that sales of Cardizem® CD represented 40% of product sales at Biovail and its reported sales has increased at least 10 million more than previous quarter. Jerry Treppel also issue a report that contained a sell recommendations, this come immediately with Biovail response, releasing a number of public statements regarding Treppel’s report coverage, caused Jerry Treppel lastly resigned his position. From this, could see that company had act tough in dealing this ‘sell’ recommendation report, taking no compromise, attack the report issuer, try many ways to invalidate the report. This increase suspicion that Biovail presented misleading information and try to cover it from