Melnyk Goes To Court To Fight Biovail Vote

Law360, New York (June 26, 2008, 12:00 AM EDT) -- The battle over who should sit on Biovail Corp.'s board of directors continues to rage, with former CEO and founder Eugene Melnyk taking to court and threatening to set up a new pharmaceutical company if he does not get his way.

Melnyk indicated at a news conference Wednesday that he intends to set up a new private pharmaceutical company, Trimel Pharmaceuticals, if his quest to overturn the vote rejecting his proposed board proves unsuccessful.

"Either shareholders will support my plan at a properly called AGM, or...
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