Healthcare Industry News: Indevus Pharmaceuticals
News Release - January 9, 2006
Indevus Announces Closing of Delatestryl(R) TransactionLEXINGTON, Mass.--(HSMN NewsFeed)--Jan. 9, 2006--Indevus Pharmaceuticals, Inc. (NASDAQ: IDEV ) today announced the closing of the previously announced acquisition of the U.S. rights to Delatestryl from Savient Pharmaceuticals, Inc. Delatestryl, (testosterone enanthate) is a marketed injectable testosterone replacement therapy for the treatment of male hypogonadism.
Commercial preparations are well underway and the Indevus specialty sales force will begin promoting Delatestryl on January 16th. The Company's detailing efforts will be directed towards urologists, endocrinologists and other high prescribing physicians.
Hypogonadism is characterized by a deficiency in endogenous testosterone production resulting in abnormally low levels of circulating testosterone. Testosterone deficiency is accompanied by symptoms of different severity which include sexual dysfunction, reduced muscle mass and strength, depressed mood and osteoporosis. Testosterone replacement therapy is not indicated for age-related decline in serum testosterone ("andropause") because there is insufficient information to support safe or effective use in this geriatric population. Delatestryl is contraindicated in men with carcinomas of the breast or with known or suspected carcinomas of the prostate.
Indevus Pharmaceuticals is a biopharmaceutical company engaged in the acquisition, development and commercialization of products targeting certain medical specialty areas, including urology, gynecology and men's health. The Company currently markets SANCTURA® for overactive bladder and Delatestryl® for the treatment of male hypogonadism. The Company has multiple compounds in clinical development, including SANCTURA XR(TM), the once-daily formulation of SANCTURA, NEBIDO® for the treatment of male hypogonadism, PRO 2000 for the prevention of infection by HIV and other sexually transmitted pathogens, IP 751 for interstitial cystitis, pagoclone for stuttering, and aminocandin for systemic fungal infections.
Except for the descriptions of historical facts contained herein, this press release contains forward-looking statements that involve risks and uncertainties that could cause the Company's actual results and financial condition to differ materially from those anticipated by the forward-looking statements. These risks and uncertainties are set forth in the Company's filings under the Securities Act of 1933 and the Securities Exchange Act of 1934 under "Risk Factors" and elsewhere, and include, but are not limited to: dependence on the success of SANCTURA® and SANCTURA XR(TM); the early stage of products under development; uncertainties relating to clinical trials, regulatory approval and commercialization of our products, particularly SANCTURA and SANCTURA XR; risks associated with contractual agreements, particularly for the manufacture and co-promotion of SANCTURA and SANCTURA XR; dependence on third parties for manufacturing and marketing; competition; need for additional funds and corporate partners, including for the development of our products; failure to acquire and develop additional product candidates; history of operating losses and expectation of future losses; product liability and insurance uncertainties; risks relating to the Redux-related litigation; limited patent and proprietary rights; dependence on market exclusivity; valuation of our Common Stock; risks related to repayment of debts; risks related to increased leverage; and other risks.
Source: Indevus Pharmaceuticals
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