11:44 AM EST - Biovail Corp. : and Valeant Pharmaceuticals International noted that both companies' boards have unanimously approved a definitive merger agreement under which the companies would combine to generate enhanced value for stockholders. The combined company would be called Valeant Pharmaceuticals International, Inc. or "the new Valeant". Biovail Corp.
shares T.BVF are trading up $1.53 at $16.40.
