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Accounting at Biovail - Revised
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Reference: IVEY-9B09B004-E
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Year: 2003
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Number of pages: 19
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Geographic Setting: Canada
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Publication Date: Jan 7, 2009
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Fecha de edición: Jun 4, 2009
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Source: Ivey Business School (Canada)
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Type of Document: Case
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Industry Setting: Manufacturing;
Description
Biovail was a large international pharmaceutical company with reported revenues of $788 million. Banc of America has issued a research report which indicates that Biovail Corporation's financial statements raised a number of issues that warrant caution for investors, and as a result, Biovail's stock was given a sell rating by Banc of America. A member of Biovail's audit committee is preparing for an upcoming audit meeting and considers the implications of this report for the company and for the audit committee.