Navigation Links
Indevus Announces Private Placement of $105 Million of Non-Recourse Notes
Date:8/26/2008

Notes Secured by Royalties on U.S. Sales of SANCTURA(R) and SANCTURA XR(TM)

LEXINGTON, Mass., Aug. 26 /PRNewswire-FirstCall/ -- Indevus Pharmaceuticals, Inc. (Nasdaq: IDEV) announced today that it has closed a private placement to institutional investors of $105.0 million of non-recourse notes (the "Notes"). The Notes are secured by royalties to be paid from sales in the United States of SANCTURA(R) and SANCTURA XR(TM) (trospium chloride). SANCTURA and SANCTURA XR are marketed in the U.S. by Allergan, Inc. for the treatment of overactive bladder (OAB).

"This transaction reflects the successful execution of our plan to improve our balance sheet with non-dilutive financing," said Michael W. Rogers, chief financial officer of Indevus. "With the proceeds from this transaction, we expect to have sufficient cash to retire our outstanding convertible notes, due in July of 2009, and to fund the Company's operations into calendar 2010. In addition, once the Notes are repaid, all royalties will revert to Indevus, thereby providing Indevus with a significant participation in the future royalty stream of the product. Importantly, this transaction does not cover royalties on SANCTURA XR that we expect to receive on sales in Europe and other territories around the world."

The Notes will bear interest at 16% per annum payable quarterly beginning November 5, 2008. All excess royalties, after paying interest, administrative fees, and applicable tax distributions, will be applied to the principal of the Notes until the Notes have been paid in full. From the proceeds of the transaction, Indevus will establish a $10.0 million interest reserve account to cover any potential shortfall in interest payments. After two years, any remaining funds
'/>"/>

SOURCE Indevus Pharmaceuticals, Inc.
Copyright©2008 PR Newswire.
All rights reserved

Page: 1 2 3 4

Related biology technology :

1. Indevus Receives Approvable Letter From FDA for VALSTAR(R) for Bladder Cancer Therapy
2. Indevus Announces Allergan as New Partner for SANCTURA Brand
3. Indevus Pharmaceuticals Announces Retirement of David B. Sharrock From Its Board of Directors
4. Indevus Receives Non-Approvable Letter From FDA for VALSTAR(TM)
5. Indevus Comments on Bayer Healthcare Discontinuation of Viadur(R)
6. Indevus Pharmaceuticals to Present at Cowen and Company 28th Annual Health Care Conference
7. 125 Indevus Sales Representatives to Provide Community Service in New Orleans for Jericho Road Episcopal Housing Initiative
8. Indevus Pharmaceuticals Scheduled to Present at Upcoming Investor Conferences
9. Indevus Announces Management Changes
10. Indevus Receives Approvable Letter from FDA for NEBIDO(R)
11. Indevus Pharmaceuticals to Announce Third Quarter Fiscal 2008 Financial Results on August 5, 2008
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:7/25/2014)... Pittsburgh, PA (PRWEB) July 25, 2014 ... annual Call for Topics for Conferee Networking. These two-hour ... similar interests to meet and resolve problems, discuss new ... , The deadline to submit a topic for consideration ... at pittcon.org . The Conferee Networking committee will ...
(Date:7/25/2014)... , July 25, 2014  Galmed Pharmaceuticals Ltd. ... company focused on the development and commercialization of a ... and cholesterol gallstones, today announced financial results for the ... 2014 Financial Summary: , Reported cash and cash ... with $137,000 at December 31, 2013.  , Reported ...
(Date:7/25/2014)... IN (PRWEB) July 25, 2014 At ... (FAA) has granted a 60-day extension for the public ... the Special Rule for Model Aircraft established by Congress ... of 2012. The 60-day extension establishes the new deadline ... United States Department of Transportation/FAA notice published in the ...
(Date:7/24/2014)... New York, NY - July 24, 2014 -- Keryx ... results from the long-term, randomized, active control Phase 3 ... ferric iron-based phosphate binder, for the treatment of hyperphosphatemia ... The PERFECTED study (PhosphatE binding and iRon delivery with ... the Journal of the American Society of Nephrology ...
Breaking Biology Technology:Pittcon 2015 Announces Call for Topics for Conferee Networking Sessions 2Galmed Pharmaceuticals Reports First Half 2014 Financial Results 2Galmed Pharmaceuticals Reports First Half 2014 Financial Results 3Galmed Pharmaceuticals Reports First Half 2014 Financial Results 4Galmed Pharmaceuticals Reports First Half 2014 Financial Results 5Galmed Pharmaceuticals Reports First Half 2014 Financial Results 6FAA Grants Comment Extension at the Request of AMA 2Zerenex (ferric citrate) long-term Phase 3 study results published in JASN 2Zerenex (ferric citrate) long-term Phase 3 study results published in JASN 3Zerenex (ferric citrate) long-term Phase 3 study results published in JASN 4
...  Rhythm announced today that Lex Van der Ploeg, PhD, ... Van der Ploeg brings to Rhythm more than 25 ... and other therapeutic areas. "Lex has considerable ... pathways we are targeting with our ghrelin and melanocortin ...
... for Nanotechnology (LCN) have discovered electronic stripes, called ,charge ... that make up a graphitic superconductor. This is the ... and the finding is likely to have profound implications ... scientists believe will play a key role in the ...
... /PRNewswire-iReach/ --  Quantum Leap Innovations announced today the ... Directors.  Michael Cusumano is the Sloan Management Review Distinguished ... Sloan School of Management, with a joint appointment in ... STAYING POWER , covers six enduring principles for ...
Cached Biology Technology:Rhythm Names Lex Van der Ploeg Chief Scientific Officer 2Graphene earns its stripes 2Michael Cusumano, MIT's Sloan Distinguished Professor of Management, Joins Quantum Leap Innovations Board of Directors 2Michael Cusumano, MIT's Sloan Distinguished Professor of Management, Joins Quantum Leap Innovations Board of Directors 3Michael Cusumano, MIT's Sloan Distinguished Professor of Management, Joins Quantum Leap Innovations Board of Directors 4
(Date:7/25/2014)... false-color image from the Terra satellite show the different areas ... in Eastern Russia. The burn scars show up as ... wildfires have broken across the remote parts of Eastern Russia ... from the MODIS instrument, it is still possible to ... recent image features noted below show the devastating number of ...
(Date:7/25/2014)... study published online in the International Journal of ... to preventing cervical cancer based on findings showing successful ... of a discrete population of cells in the cervix. ... looked at squamocolumnar junction cells, or SCJ cells. These ... implicated as the origins of cervical cancer. A research ...
(Date:7/25/2014)... consume the healthcare community and remain priority ... To address the worldwide crisis of obesity ... global leaders in diabetes, epidemiology and public ... and development of diverse intervention programs in ... This book on "Global Health Perspectives in ...
Breaking Biology News(10 mins):Clearing cells to prevent cervical cancer 2What constitutes an effective response to the global 'diabesity' tsunami? 2
... , RENO, Nev. A team of scientists from ... and University of California, Davis has returned from a ... they are working to find solutions to the algae ... water source for local residents. The lake,s water ...
... linear collider in Menlo Park, California has already made a ... most prolific particle accelerator facilities dedicated to high energy particle ... source of x-rays a billion times brighter than any other ... molecules respond to intense radiation from the facility,s Linac Coherent ...
... of Alabama at Birmingham (UAB) departments of Pathology, Microbiology and ... Heart, Lung, and Blood Institute (NHLBI) to study so-called red ... changes in red blood cells that have been stored for ... focus on the mechanisms by which red blood cell storage ...
Cached Biology News:American team of scientists help protect Guatemala's Lake Atitlan 2American team of scientists help protect Guatemala's Lake Atitlan 3NHLBI grants $1.47 million to study red blood cell transfusion storage times and bioactivity 2
... but comes with a shutter (controlled via a ... The DH-2000 Deuterium Tungsten Halogen ... and tungsten halogen light sources in a single ... powerful, stable output from 215-200 nm. In addition, ...
... The MSD Security ... integrated GC/MS software application ... processing, quantification, library searching ... the aspects of data ...
... Microarrays designed for genome-wide microRNA expression ... and powerful Paraflo microfluidic on-chip synthesis ... part of our comprehensive microRNA Expression ... The Soil Nematode microRNA Microarray ...
... Proteolytic degradation is critical to the ... and regulatory proteins as important and ... metabolism, heat shock and stress response, ... receptors and ion channels, cell cycle ...
Biology Products: