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Endo Pharmaceuticals Announces Extension of its Tender Offer for Shares of Indevus Pharmaceuticals
Date:3/2/2009

CHADDS FORD, Pa., March 2 /PRNewswire-FirstCall/ -- Endo Pharmaceuticals (Nasdaq: ENDP) announced today that it has extended the subsequent offering period of the tender offer by its wholly owned subsidiary, BTB Purchaser Inc., for all of the outstanding shares of common stock of Indevus Pharmaceuticals, Inc. (Nasdaq: IDEV). The subsequent offering period will now expire at 5:00 p.m. New York City time on Friday, March 13, 2009. American Stock Transfer & Trust Company, the depositary for the tender offer, has advised Endo that, as of 5:00 p.m., New York City time, on February 27, 2009, approximately 64,318,145 shares were validly tendered in the tender offer, representing approximately 80.928% of Indevus' issued and outstanding shares.

During the extended subsequent offering period, BTB will accept for payment and promptly pay for Indevus shares as they are tendered each day. Stockholders who tender shares during such period will receive the same $4.50 per Indevus share in cash and the non-transferable contractual right to receive up to an additional $3.00 per Indevus share in cash payable upon achievement of certain regulatory and sales milestones as was paid to Indevus stockholders pursuant to the tender offer.

Procedures for tendering shares during this extension of the subsequent offering period shall be the same as during the subsequent offering period with one addition: during the extended subsequent offering period shares may now be delivered by the same guaranteed delivery procedure that was applicable during the initial offering period. Pursuant to Rule 14d-7(a)(2) under the Securities Exchange Act of 1934, as amended, shares tendered during the subsequent offer period may not be withdrawn.

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SOURCE Endo Pharmaceuticals
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