Biovail Says SEC Probe Is Now Formal

Biovail has reported that the Securities and Exchange Commission has launched a formal investigation into the Toronto-based drug maker's accounting practices. The formal investigation continues an informal probe the SEC launched in November 2003. The formal probe follows up on Biovail's financial disclosure practices for all of 2002 and up to November 2003, and expands the scope of the investigation back to June 2001.

Forbes (http://www.forbes.com/associatedpress/feeds/ap/2005/03/04/ap1863259.html)