Biovail

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Biovail Fined; Melnyk Charges Remain

Biovail Fined; Melnyk Charges Remain

Canadian drug maker Biovail Corp., which was formerly headed by prominent Thoroughbred owner-breeder Eugene Melnyk, agreed March 24 to pay a $10-million fine to resolve federal regulators' charges of civil accounting fraud and deceiving investors and analysts.

Melnyk Company Under SEC Investigation

The U.S. Securities and Exchange Commission has opened an informal inquiry into the accounting and financial-reporting practices of Eugene Melnyk's pharmaceutical company Biovail Corp.

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