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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 or 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of report (Date of earliest event reported): October 1, 1999
Fuisz Technologies Ltd.
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(Exact Name of Registrant as Specified in Charter)
Delaware 0-27082 52-1579474
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(State or Other Jurisdiction (Commission (IRS Employer
of Incorporation) File Number) Identification No.)
14555 Avion Parkway, Chantilly, VA 20151
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(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code: (703) 995-2400
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N/A
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(Former Name or Former Address, if Changed Since Last Report)
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ITEM 5. OTHER EVENTS
On October 1, 1999, Fuisz Technologies Ltd. ("FTL") announced
that, in light of consummation of the tender offer for its stock by
Biovail International Corporation and the proposed acquisition of Fuisz
by Biovail Corporation International ("Biovail"), Dr. Richard C. Fuisz
resigned his position as acting chief executive officer of FTL. Dr.
Fuisz remains as chairman of the Board of Directors of FTL. Marc
Canton, a vice president of Biovail, has been named as acting chief
executive officer of FTL until the earlier of the merger with FTL and
Biovail, or December 31, 1999 and will report to the Board of Directors
of FTL.
Pursuant to the terms of the merger agreement between the companies
which provides that Biovail may designate a certain number of persons
to the Board of Directors of FTL, Eugene N. Melnyk, Bruce D. Brydon,
Robert A. Podruzny, Kenneth C. Cancellara and Kenneth G. Howling have
been elected to the Board of Directors of FTL, in accordance with the
Certificate of Incorporation and the bylaws of FTL, so that the Board
of Directors of FTL now consists of 11 directors.
The record date for holders of shares of FTL entitled to vote on the
merger of FTL and Biovail has been set as October 8, 1999.
ITEM 7. FINANCIAL INFORMATION, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS
(a) Not applicable
(b) Not applicable
(c) Not applicable
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has caused this current report to be signed on its behalf by the
undersigned hereunto duly authorized.
FUISZ TECHNOLOGIES LTD.
Date: October 1, 1999 By: /s/ Stephen H. Willard
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Name: Stephen H. Willard
Title: Executive Vice President and
General Counsel
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