Biovail Corporation Earnings Release Income Statement (US$ million

2001
Revenue
Product sales
Research and development
Co-promotion, royalty and licensing

2002

$
$
$
$

521.20
14.60
47.50
583.30

$
$
$
$

646.00
28.40
113.60
788.00

126.00
51.00
110.10
44.50
80.50
412.10
171.20
2.70
(36.20)
(34.90)
102.80
15.30
87.50

$
$
$
$
$
$

Operating Income (loss)

Interest income
interest expense
Other income
Debt conversion premiums
Income(loss) before provision for income taxes
Provision for income taxes
Net income (loss)

$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$

164.70
52.20
165.70
71.50
31.90
167.70
###
653.70
134.30
3.60
(32.00)
3.40
109.30
21.50
87.80

Diluted earning per share

0.58 $

0.55

Net income (loss)

Add (deduct) certain items
Write-down of assets
Acquired research and development
Other income
Debt conversion premiums
Net income excluding certain items

87.50 $

87.80

Diluted earnings per share excluding certain items

Expenses
Cost of good sold
Research and development
Selling, general and administrative
Amortization
Write-down of assets
Acquired research and development
Settlements

$
$
$
$
$

80.50
34.90
202.90

$
$
$
$
$
$
$
$
$

$
$
$
$
$

1.35 $

31.90
167.70
(3.40)
284.00
1.77

nt (US$ millions)
2003 2Q cum
$
$
$
$

284.60
6.30
117.80
408.70

$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$

48.70
39.80
103.10
86.40
84.20
(34.10)
328.10
80.60
4.70
(19.50)
6.70
72.50
10.40
62.10

0.39

62.10

$
$
$
$
$

84.20
146.30

0.91

Abbott Labolatories Income Statement (US$ millions)

Net sales
Cost of products sold
Research & development
Acquired in process R&D
Selling, general & administrative
Total operating cost and expenses
Operating earnings
Net interest expense
Net foreign espense
(Income) from TAP Pharm, Products Inc. Joint venture
Other (income)/expense, net
Earning before taxes
Taxes in earnings
Net earnings
Net earnings excluding acquired in-process R&D and other one-time charges

(Note 1)
Diluted earnings per common share (US GAAP)
Diluted earnings per common share excluding acquired in-process R&D and other one-time charges

Average no of common shares outstanding plus dilutive common stock options

Note 1 : Year 2002 excludes a non-cash charge of $0,05 for acquired in-process research and devel
related to the acquisition of Biocompatibles stent business and Medtronic alliance, $0,06 for one-tim
related to the consent decree with FDA, a $0,09 non-cash charge related to the decline in value of
equity investments, and $0,08 related to previously announced restructuring expenses. Year 2001
non-cash charge of $0,56 for acquired in-process research and development, $0,17 for a one-time
to income TAP joint venture, and $0,16 for other one-time charges related to the acquisition of pha
business of BASF.

ent (US$ millions)

$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$

2001
16,285.20
7,748.40
1,577.50
1,330.40
3,734.90
14,391.20
1,894.00
234.80
31.40
(333.80)
78.50
1,883.10
332.80
1,550.30
2,942.80

$
$
$
$
$
$
$
$
$
$
$
$
$
$

0.99 $
1.88 $
1,566.00 $

2002
17,684.70
8,506.30
1,561.80
107.70
3,978.80
14,154.60
3,530.10
205.20
74.60
(666.80)
243.70
3,673.40
879.70
2,793.70

1.78
2.06
1,573.30

n-process research and development

onic alliance, $0,06 for one-time charges
ted to the decline in value of certain
ucturing expenses. Year 2001 excludes a
opment, $0,17 for a one-time adjustment
ated to the acquisition of pharmaceutical

Cephalon Inc. Income Statement (US$ millions)

Revenues
Product sales
Other revenue
Cost and Expenses
Cost of product sales
Research and developent
Selling, general and administrative
Merger and integration costs
Acquired in-process research and development
EBITDA (a)
Depretiation and amortization
Debt exchange expense
Gain (charge) on early extinguishment of debt
Other income (expense),net
Income (loss) before income taxes
Income tax benefit (expense), net
Income before cumulative effect of changing inventory costing method
Cumulative effect of changing inventory costing method from FIFO to LIFO

Net income (loss)

Dividend on convertible exchangeable preferred stock
Income (loss) applicable to common shares
Basic income (loss) per common share
Income (loss) per common share excluding cumulative effect of changing inventory method

Cumulative effect of changing inventory costing method

Diluted income (loss) per common share
Income (loss) per common share excluding the effect of changing inventory method

Cumulative effect of changing inventory costing method

Weighted average number of common shares outstanding
Weighted average number of common shares outstanding - assuming dilution
Reconciliation of Income (loss) applicable to common shares to adjusted net income :

Income (loss) applicable to common shares

Certain charges :
Deferred tax valuation adjustment
CNS joint venture (b)
Short-term bridge financing and other merger related expenses
Acquired in-process research and development
Debt exchange expense
(Gain) charge on early extinguishment of debt
Cumulative effect of changing inventory costing method
Adjusted net income
Basic adjusted net income per common share

Diluted adjusted net income per common share

Notes :

(a) Earning (loss) before net interest, depreciation, amortization, debt exchange expense, foreign c
exchange, dividends on convertible exchangeable preferred stock and cumulative effect of changin
costing method

(b) Includes $3.508.000 from selling, general and administrative expense and $2.973.000 from oth
expense

S$ millions)
2001

2002

$
$
$

226.10 $
35.90 $
262.00 $

465.90
41.00
506.90

$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$

44.90
83.00
96.20
0.10
20.00
244.20
17.80
(14.40)
(52.40)
3.00
(9.40)
(55.40)
(55.40)
(55.40)
(5.70)
(61.10)

$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$

74.20
128.30
172.80
375.30
131.60
(35.50)
(7.10)
(26.60)
62.40
112.60
175.00
(3.50)
171.50
171.50

$
$
$

(1.27) $
$
(1.27) $

3.17
(0.06)
3.11

$
$
$
$
$

(1.27)
(1.27)
48.30
48.30

3.07
(0.06)
3.01
55.10
57.00

$
$
$
$
$
$
$
$
$
$

$
$
$
$
$

(61.10) $
1.60
20.00
52.40
(3.00)
9.90
0.20

$
$
$
$
$
$
$
$
$

171.50
(116.70)
6.50
7.10
3.50
71.90
1.31

0.19 $

1.26

hange expense, foreign currency

mulative effect of changing inventory

and $2.973.000 from other