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Posted AT 8:43 PM EDT on 15/11/05

Biovail pitches dividend plan

LEONARD ZEHR

From Wednesday's Globe and Mail

Drug developer Biovail Corp. surprised investors yesterday by unveiling a dividend policy together with plans to spin off its legacy line of non-core products to existing shareholders. The spinoff is part of a broader restructuring initiated by the company's new chief executive officer Doug Squires. Earlier this year, the company abandoned the bulk of its U.S.

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