Navigation Links
Endo Pharmaceuticals Announces Successful Completion of Tender Offer for Indevus Pharmaceuticals
Date:3/19/2009

CHADDS FORD, Pa., March 19 /PRNewswire-FirstCall/ -- Endo Pharmaceuticals (Nasdaq: ENDP) today announced the successful completion 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). American Stock Transfer & Trust Company, the depositary for the tender offer, has advised Endo that, as of 5 p.m., New York City time, on March 18, 2009, the expiration of the subsequent offering period, approximately 70,856,245 shares were validly tendered in the tender offer, representing approximately 89.155% of Indevus' issued and outstanding shares. Endo has accepted for payment and promptly paid for all shares validly tendered during the subsequent offering period.

Endo also announced that, to complete the acquisition of 100% of the common stock of Indevus, Endo will effect, without prior notice to, or any action by, any other Indevus stockholder, a short-form merger in which BTB will merge with and into Indevus, with Indevus surviving the merger and continuing as a wholly owned subsidiary of Endo. To that end, BTB has notified Indevus of its intent to exercise its option under the merger agreement to purchase newly issued Indevus shares in order to ensure ownership of at least 90% of the outstanding Indevus shares to complete the short-form merger. Pursuant to the top-up option, Indevus will issue to BTB 11,306,421 new shares of its common stock. In the merger, each of the remaining untendered shares of Indevus common stock (other than shares as to which appraisal rights are properly demanded and perfected under Delaware law, if any) will be converted into the right to 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 in the future upon achievement of certain regulatory and sales milestones as was paid to Indevus stockholders pursuant to the tender offer. The merger is expected to occur within the next several days and a subsequent press release will be issued at that time. Following the merger, Indevus' common stock will cease to be traded on the NASDAQ Stock Market.

About Endo

Endo Pharmaceuticals is a specialty pharmaceutical company engaged in the research, development, sale and marketing of branded and generic prescription pharmaceuticals used primarily to treat and manage pain. Its products include LIDODERM(R), a topical patch to relieve the pain of postherpetic neuralgia; PERCOCET(R) and PERCODAN(R) tablets for the relief of moderate-to-moderately severe pain; FROVA(R) tablets for the acute treatment of migraine attacks with or without aura in adults; OPANA(R) tablets for the relief of moderate-to-severe acute pain where the use of an opioid is appropriate; OPANA(R) ER tablets for the relief of moderate-to-severe pain in patients requiring continuous, around-the-clock opioid treatment for an extended period of time; and VOLTAREN(R) gel, a nonsteroidal anti-inflammatory drug indicated for the relief of the pain of osteoarthritis of joints amenable to topical treatment. The company markets its branded pharmaceutical products to physicians in pain management, neurology, surgery, oncology, and primary care. More information, including this and past press releases of Endo Pharmaceuticals, is available at www.endo.com.


'/>"/>
SOURCE Endo Pharmaceuticals
Copyright©2009 PR Newswire.
All rights reserved

Related medicine news :

1. Valeant Pharmaceuticals Appoints President of Valeant Pharmaceuticals International
2. Poniard Pharmaceuticals to Present at Needham & Companys Cancer Therapeutics: Today & Tomorrow Conference
3. Statement by Teva Pharmaceuticals on Eshoo-Barton Bill
4. Poniard Pharmaceuticals Receives Going Concern Qualification
5. China Yongxin Pharmaceuticals Inc. Launches Electronic Diagnosis System in its Changchun Drugstores
6. Transcept Pharmaceuticals to Report Fourth Quarter 2008 Results
7. Meditor Pharmaceuticals (North American) Ltd. announces the closing of a merger agreement with American Medical Technologies, Inc.
8. Gamma Pharmaceuticals Accepts PO From Leading St. Louis Missouri Distributor. Order Valued up to $850,000 Retail Market Value
9. MAP Pharmaceuticals to Present at the Cowen and Company 29th Annual Health Care Conference
10. Valeant Pharmaceuticals to Present at Cowen and Company 29th Annual Health Care Conference
11. ISTA Pharmaceuticals to Present at the Cowen and Company 29th Annual Health Care Conference
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:5/6/2016)... ... May 06, 2016 , ... Featured cast and ... unique keynote address at the 2016 Learning Summit , June 12-15, in ... college students. Their stories—of complicated family issues, financial difficulties, and other personal obstacles—are ...
(Date:5/6/2016)... ... May 06, 2016 , ... ... reduce fat areas around the body, is the most popular among body sculpting ... released make perfect sense to cosmetic surgeon Dr. Richard Buckley, medical director of ...
(Date:5/6/2016)... ... May 06, 2016 , ... Canadian author Mark Black is a speaker, author, and ... Heart" around the world … with the help of his publisher Strategic Book Group and ... lay in a hospital bed waiting for a miracle: He needed a heart and double-lung ...
(Date:5/6/2016)... ... May 06, 2016 , ... Few ... which made headlines mostly for its cost despite its potential to wipe out ... surrounding the drug—part of a class called direct-acting antivirals (DAAs)—have created fallout in ...
(Date:5/6/2016)... ... 2016 , ... RowdMap, Inc. co-founder, Joshua Rosenthal, PhD, joins ... Deputy Administrator at Centers for Medicare and Medicaid Services (CMS); Ali Khan, MD, ... Officer at Health Care Service Corporation (Blue Cross and Blue Shield of Illinois, ...
Breaking Medicine News(10 mins):
(Date:5/4/2016)... ALBANY, New York , May 4, 2016 /PRNewswire/ ... published by Transparency Market Research entitled "Brain Computer Interface Market ... Forecast 2016 - 2024," the  global brain computer interface (BCI) ... bn by 2024. The market is estimated to expand ... period from 2016 to 2024. A BCI ...
(Date:5/4/2016)... -- Yissum Research Development Company of ... it had signed an exclusive world-wide licensing and research ... protein degradation and immunomodulatory drugs for cancer and immune ... representing first-in-class therapy for hematologic and solid malignancies. Financial ... The novel technology was developed by Yinon Ben-Neriah ...
(Date:5/4/2016)... , May 4, 2016 ... of the  "Global Acute Ischemic Stroke Market ... to their offering.       (Logo: ... Global Acute Ischemic Stroke Market and Competitive ... Acute Ischemic Stroke pipeline products, Acute Ischemic ...
Breaking Medicine Technology: