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06/21/2010 04:21:00 PM EST

Biovail, Valeant Pharma agree to combine

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Corporate and Securities Law Community Staff

NEW YORK-(AP) Canadian drugmaker Biovail Corp. and Valeant Pharmaceuticals International said Monday they are forming a new company under the Valeant name, capping Biovail's recovery from falling sales and financial scandals.

Combined, the companies had $1.65 billion in revenue in 2009. They say their size, financial strength and product lines will allow…

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