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Indevus Pharmaceuticals Announces First Quarter Fiscal 2009 Financial Results
Date:2/4/2009

LEXINGTON, Mass., Feb. 4 /PRNewswire-FirstCall/ -- Indevus Pharmaceuticals, Inc. (Nasdaq: IDEV) (the "Company") today announced its consolidated results of operations for the first quarter of fiscal 2009, ended December 31, 2008.

The Company reported revenues of $26.4 million and a consolidated net loss of $7.6 million or $0.10 per share for the quarter ended December 31, 2008. This compares to revenues of $16.4 million and a consolidated net loss of $14.7 million or $0.19 per share for the quarter ended December 31, 2007.

At December 31, 2008, the Company had consolidated cash and cash equivalents totaling approximately $125.6 million.

Financial Results

Total consolidated revenues for the quarter ended December 31, 2008 were $26.4 million, an increase of 61% from the $16.4 million reported for the quarter ended December 31, 2007. The primary components of revenue for the quarter ended December 31, 2008 were $13.0 million from the recognition of revenue associated with the SANCTURA(R) brand, $6.8 million from sales of VANTAS(R), and $5.9 million from sales of SUPPRELIN(R) LA.

Cost of product revenue for the quarter ended December 31, 2008 was $6.5 million, an increase of 12% from the $5.9 million reported for the quarter ended December 31, 2007. Cost of product revenue in the current quarter relates primarily to costs associated with the SANCTURA brand, including royalties on sales of SANCTURA and SANCTURA XR(TM) that are reimbursed by Allergan, and costs associated with VANTAS and SUPPRELIN LA.

Research and development expenses for the quarter ended December 31, 2008 were $5.2 million, a decrease of 19% from the $6.4 million reported for the quarter ended December 31, 2007. Marketing, general and administrative expenses for the quarter ended December
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SOURCE Indevus Pharmaceuticals, Inc.
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