Valeant Plans Cash Payout, Following Biovail Merger

Aliso Viejo-based Valeant Pharmaceuticals, the specialty pharmaceuticals firm that is in the midst of a merger with Biovail, said today that it is planning a one time, special cash dividend of $16.77 per share, in conjunction with the merger. Valeant and Biovail announced their merger in June. The firms did not say why they decided to propose the special dividend in conjunction with the merger.