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Endo Pharmaceuticals to Acquire Indevus Pharmaceuticals
Date:1/5/2009

Acquisition Adds Marketed Products and Specialty Sales Force in Urology and Endocrinology, Novel Drug-Delivery Technology

Combined Pipeline to Include Nine FDA-Approved Therapeutics

Conference Call Scheduled for Today at 5:30 pm EST

CHADDS FORD, Pa. and LEXINGTON, Mass., Jan. 5 /PRNewswire-FirstCall/ -- Endo Pharmaceuticals (Nasdaq: ENDP) and Indevus Pharmaceuticals, Inc. (Nasdaq: IDEV) announced today that they have entered into a merger agreement under which Endo will commence a tender offer to acquire 100 percent of the outstanding shares of Indevus for approximately $370 million, or $4.50 per Indevus share, in cash, and up to an additional approximately $267 million, or $3.00 per Indevus share, in cash payable in the future upon achievement of certain regulatory and sales milestones. The transaction has been approved by the boards of directors of both companies.

David Holveck, president and chief executive officer of Endo, stated, "This merger reflects our desire to expand our business beyond pain management into complementary medical areas where we can be innovative and competitive. We believe this expansion of our product line has significant growth potential because of the therapeutic value of the Indevus product portfolio, the unique expertise of both companies, and the demographic, health care and reimbursement trends that favor the consideration of new products to address unmet needs in urology and endocrinology.

"These trends demand that pharmaceutical companies become better health care partners with physicians and managed care organizations by offering a range of new products and technologies in related medical specialties that achieve better outcomes for patients. Thi
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SOURCE Endo Pharmaceuticals
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