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Indevus Announces Management Changes
Date:6/12/2008

Company Begins Process to Restore Shareholder Value Following NEBIDO(R)

Delay

LEXINGTON, Mass., June 12 /PRNewswire-FirstCall/ -- Indevus Pharmaceuticals, Inc. (Nasdaq: IDEV) today announced that Glenn L. Cooper, MD, its chairman and chief executive officer is postponing his previously-announced retirement to lead the Company through the challenges it faces as a result of the recent delay in the approval of NEBIDO(R).

Dr. Cooper stated, "While it was my intention to retire in September following the FDA approval of NEBIDO, it now appears the Company will have to readjust to the recent news. I feel a profound responsibility to all our stakeholders to improve the prospects of the Company as rapidly as possible and it is not an optimal time to bring a new CEO on board. I will be working closely with the Board of Directors and management as we move quickly toward a revised operating plan. Fortunately, our key products, SANCTURA XR(TM), VANTAS(R) and SUPPRELIN(R) LA are performing extremely well in the marketplace and we are awaiting FDA approval for VALSTAR(TM), another important urology product which our field force is preparing to launch. We intend to further increase our focus on growing these brands."

The Indevus Board believes that Dr. Cooper is best positioned to deal with the current situation and is grateful that Dr. Cooper has agreed to lead this effort. His retirement agreement has been amended to provide for a new retirement date to be determined by mutual agreement between Dr. Cooper and the Board. The search for a new CEO has been placed on hold and will be reactivated at the appropriate time.

Given the delay of NEBIDO, the Company has begun a thorough review of its o
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SOURCE Indevus Pharmaceuticals, Inc.
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