Valeant and Biovail have agreed on a merger. The new company will be known as Valeant, but will be based in Biovail’s headquarters of Mississauga, Ontario, and retain Biovail’s business structure. The $2.8 billion deal has a complex, tax-free model involving Valeant dividends and Biovail share swaps for Valeant shareholders. J. Michael Pearson, currently chairman and chief executive officer of Valeant, will serve as the new Valeant’s CEO, residing in Barbados, and Bill Wells, curr...