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

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"Fiscal 2008 was also an active and successful year for our Business Development group. In addition to the significant partnership completed with Teva, we also licensed rights outside of the United States for two of our core products. In April, we announced the licensing of European rights for VANTAS to Orion. VANTAS is pending final approval in Europe and it is expected to be launched by Orion in the first half of 2009. In May, we completed the license of Canadian rights for SANCTURA XR(TM) to Allergan.

"In addition, we successfully completed a $105 million non-recourse financing by monetizing a portion of the SANCTURA(R) franchise royalties. This non-recourse financing provides the Company sufficient capital to retire its outstanding Convertible Notes and to fund the Company into 2010. The Company now has the capital to get through several important milestones, including the expected FDA action date on NEBIDO, the results of our Phase III trial for octreotide, and the results of two Phase III trials for PRO 2000. In addition, we are optimistic that our ongoing discussions on the partnering front will contribute additional non-dilutive capital to the Company during the course of the coming year," concluded Dr. Cooper.

Recent Highlights

During the past year, the Company achieved a number of important milestones, including:

    Clinical Development
    -- Results From NEBIDO Phase III Trial Shows 94 Percent of Men Maintained
       Normal Testosterone Levels Throughout Treatment
    -- Results From Two-Year Study Confirming SUPPRELIN LA Implant Maintains
       Profound Suppression of Hormones in Children with Premature Onset
       Puberty
    -- Completion of Enrollment in Phase III Trial of PRO 2000
    -- Phase III Clinical Trial of Octreotide Implant for Acromegaly Initiated


    Business Development
    -- Licensing of European Rights for VANTAS to Orion C
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SOURCE Indevus Pharmaceuticals, Inc.
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