Biovail Corporation is a fully integrated pharmaceutical company specializing in the development of drugs utilizing advanced controlled-release, rapid dissolve, enhanced absorption and taste masking technologies. The Company generates its revenues from developing and licensing oral controlled-release products using its proprietary drug delivery technologies; manufacturing such products for sale to licensees and wholesalers; direct marketing of proprietary and in-licensed products in Canada, and providing pharmaceutical contract research services to Intelligent Polymers Limited and other third parties.

February 12, 2001

Biovail Corporation develops and manufactures drugs utilizing advanced oral controlled-release, rapid dissolve, enhanced absorption and taste masking technologies. The Company currently has developed 15 products that are sold under license in over 55 countries. BVF ran into some profit taking in November after hitting an all-time high of $45.38 on November 8th. The stock then put in a triple-bottom over the course of two months. Now the stock has regained its momentum and on Monday, the stock broke out to an all-time high of $46.15 on volume of 956,000 shares. This was the move we were looking for so we are adding them to our current plays list. Going forward, support is the 10-dma at $43.76 with additional support at $42.90, Monday’s intra-day low. Resistance could show up in the $47-$48 range with heavier resistance at $50. Traders may consider staring new plays on a bounce off of $43.76 or a break out above $47 on volume greater than 800,000 shares by noon. We plan to set stops at $41.50 as downside protection.

Picked on February 12th @ $46.15
Change since picked +0.00
Stop Loss @ $41.50

February 15, 2001

Controlled-release drug developer Biovail has been selling off on news that the United States Court of Appeals for the Federal Circuit affirmed the district court's earlier determination that the generic form of Tiazac prescribed by Andrx Corporation (ADRX) does not infringe the patent claims of Biovail. On Thursday, shares of BVF traded down to an intra-day low of $43.87 on volume of 554,000 shares. The stock closed below its 10-dma, and it may need to test support at the 20-dma. In the meantime, support is Monday’s intra-day low of $42.90 with stronger support at $42.35, the 20-dma. Resistance has moved down to Wednesday’s intra-day high of $45.30 and then the all-time high of $47.35. Traders may consider starting new plays on a bounce off of $42.90 or a move above $45.30 on volume greater than 450,000 by noon. Our stops remain at $41.50 to cap potential losses.

Picked on February 12th @ $46.15
Change since picked –2.25
Stop Loss @ $41.50

February 13, 2001

Biovail, a developer and manufacturer of controlled-release drugs, traded to an all-time high of $47.35 before the markets turned sour during Tuesday’s session. Shares of BVF ended the day at $45.15 on volume of 927,000 shares. The pullback appears to be a normal test of support following a major breakout. The stock still has strong momentum and the upward trend remains healthy. For now, support has moved up to the 5-dma at $44.52 with additional support at $43.84, the 10-dma. Resistance has formed at Monday’s intra-day high of $45.15 and then the all-time high of $47.35. A bounce off of $44.52 or a move above $46.15 on midday volume of at least 800,000 shares may be possible entry points. Our stops are holding steady at $41.50 to limit potential losses.

Picked on February 12th @ $46.15
Change since picked –1.01
Stop Loss @ $41.50