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Indevus Pharmaceuticals Announces Fiscal 2008 Year End and Fourth Quarter Results
Date:11/25/2008

LEXINGTON, Mass., Nov. 25 /PRNewswire-FirstCall/ -- Indevus Pharmaceuticals, Inc. (Nasdaq: IDEV) today announced its consolidated results of operations for the fiscal year and the three-month period ended September 30, 2008. The Company will host a conference call and webcast today beginning at 9:00 am eastern time (details follow below).

The Company reported fiscal 2008 consolidated revenues of $77.8 million, an increase of 18% from fiscal 2007 revenues of $66.1 million. For the three- month period ended September 30, 2008, the Company reported consolidated revenues of $23.3 million, a decrease of 21% from the $29.5 million reported for the three-month period ended September 30, 2007. The three-month period ended September 30, 2007 included a one-time, up-front recognition of $13.0 million related to the approval milestone for SANCTURA XR(TM) from Allergan.

For fiscal 2008, the Company reported a consolidated net loss of $65.6 million, or $0.86 per share, compared to a consolidated net loss of $103.8 million or $1.61 per share for fiscal 2007. Fiscal 2008 results include one- time restructuring charges of approximately $3.0 million. For the three-month period ended September 30, 2008, the Company reported a consolidated net loss of $14.0 million or $0.18 per share, compared to a consolidated net loss of $8.8 million or $0.12 per share for the three-month period ended September 30, 2007.

At September 30, 2008, the Company had consolidated cash, cash equivalents and marketable securities totaling approximately $131.3 million.

"Fiscal 2008 was extremely active for the Company," said Glenn L. Cooper, M.D., chairman and chief executive officer of Indevus. "The year ended on a very strong note and the Company is in excellent shape to have a successful coming year. In particular, we now have a
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SOURCE Indevus Pharmaceuticals, Inc.
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