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Updated from 11:28 a.m. EDT

Biovail

(BVF)

shares dropped Friday after the company said preliminary results indicate its revenue could be below previous forecasts for the third quarter.

The pharmaceutical company said revenue should be in the range of $215 million to $235 million, and that and earnings per share should be 35 cents to 45 cents a share for the three months ended Sept. 30.

The company cited the loss of a significant shipment of Wellbutrin XL as the result of a traffic accident. Biovail said the product may still be sellable in the future, but that it must first be returned for inspection to Biovail's manufacturing facility.

Revenue associated with the shipment is in the range of $10 million to $20 million, the company said, adding that the manufacturing cost of the shipment was insured.

The stock was halted on the

New York Stock Exchange

until just after noon. By midafternoon, shares had dropped 15.1%, or $5.71, to $32.06.