SEC FORM 3

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person^*

Godin Gilbert

(Last)

(First)

(Middle)

C/O BIOVAIL CORPORATION,

7150 MISSISSAUGA ROAD

(Street)

MISSISSAUGA

L5N 8M5

(City)

(State)

(Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
01/01/2010

3. Issuer Name and Ticker or Trading Symbol
BIOVAIL CORP INTERNATIONAL [ BVF ]

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	Executive Vice-President & COO

5. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock, no par value	9,000	D

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
1. Title of Derivative Security (Instr. 4)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
Stock Options (right to purchase)	⁽¹⁾	05/23/2011	Common Stock, no par value	100,000	$25.78	D
Stock Options (right to purchase)	⁽²⁾	03/22/2012	Common Stock, no par value	100,000	$22.05	D
Restricted Share Units	03/12/2011	03/12/2011	Common Stock, no par value	7,491⁽³⁾	⁽⁴⁾	D
Stock Options (right to purchase)	⁽⁵⁾	04/01/2013	Common Stock, no par value	75,000	$10.83	D
Restricted Share Units	02/25/2012	02/25/2012	Common Stock, no par value	7,867⁽⁶⁾	⁽⁴⁾	D
Stock Options (right to purchase)	⁽⁷⁾	03/09/2014	Common Stock, no par value	90,000	$10.86	D
Restricted Share Units	08/05/2014	08/05/2014	Common Stock, no par value	75,459⁽⁸⁾	⁽⁴⁾	D

Explanation of Responses:

1. On May 23, 2006, the Reporting Person was granted 100,000 Stock Options. 25,000 Stock Options vested and became exercisable on each of May 23, 2007, 2008 and 2009. The remaining 25,000 Stock Options will vest and become exercisable on May 23, 2010.

2. On March 22, 2007, the Reporting Person was granted 100,000 Stock Options. 25,000 Stock Options were exercisable as of the grant date and 25,000 Stock Options vested and became exercisable on each of March 1, 2008 and 2009. The remaining 25,000 Stock Options will vest and become exercisable on March 1, 2010.

3. Includes an initial grant of 6,250 Restricted Share Units (granted on March 12, 2008) and additional Restricted Share Units that were allocated to the Reporting Person as dividend equivalents on the payment date(s) of dividends on Common Stock, no par value, of Biovail Corporation (the "Common Stock").

4. Each Restricted Share Unit represents a contigent right to receive one share of Common Stock.

5. On April 1, 2008, the Reporting Person was granted 75,000 Stock Options. 25,000 Stock Options vested and became exercisable on April 1, 2009 and 25,000 Stock Options will vest and become exercisable on each of April 1, 2010 and 2011.

6. Includes an initial grant of 7,500 Restricted Share Units (granted on February 25, 2009) and additional Restricted Share Units that were allocated to the Reporting Person as dividend equivalents on the payment date(s) of dividends on Common Stock.

7. On March 9, 2009, the Reporting Person was granted 90,000 Stock Options which will vest and become exercisable in three equal annual installments commencing on the first anniversary of the grant date.

8. Includes an initial grant of 75,000 performance based Restricted Share Units (granted on August 5, 2009) and additional Restricted Share Units that were allocated to the Reporting Person as dividend equivalents on the payment date(s) of dividends on Common Stock.

Remarks:

See Exhibit 24.1 - Power of Attorney

	/s/ Angie Palmer, by Power of Attorney	01/04/2010
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.