biovail

Valeant Pharmaceuticals International and Canadian drugmaker Biovail announced Monday they have agreed to merge. Upon the completion of the merger this year, Biovail stockholders will own 50.5% of the combined company and Valeant stockholders will own 49.5%.

Two weeks ago, Novavax (NVAX) shares soared some 10 percent after the small clinical-stage biotechnology company announced positive preclinical results for its new vaccine against H1N1 influenza. Shares jumped again today -- this time about 15 percent by late-afternoon trading -- after the vaccine...