Healthcare Industry News: Indevus Pharmaceuticals
News Release - March 19, 2009
Endo Pharmaceuticals Announces Successful Completion of Tender Offer for Indevus PharmaceuticalsCHADDS FORD, Pa., March 19 (Healthcare Sales & Marketing Network) -- 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 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®, a topical patch to relieve the pain of postherpetic neuralgia; PERCOCET® and PERCODAN® tablets for the relief of moderate-to-moderately severe pain; FROVA® tablets for the acute treatment of migraine attacks with or without aura in adults; OPANA® tablets for the relief of moderate-to-severe acute pain where the use of an opioid is appropriate; OPANA® 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® 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
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