LEXINGTON, Mass., Oct. 22 IndevusPharmaceuticals, Inc. (Nasdaq: IDEV) today announced that David B. Sharrockhas elected to retire from its board of directors.
"I want to thank David for the many contributions he has made to Indevusduring his more than 12 years of service to the Company," said Glenn L.Cooper, M.D., chairman and chief executive officer of Indevus. "David hasprovided invaluable guidance to the Company as we have moved from adevelopment-stage company toward a specialty pharmaceutical company withseveral marketed products. All of us at Indevus are grateful to David and wewish him the best."
Indevus Pharmaceuticals, Inc. is a specialty pharmaceutical companyengaged in the acquisition, development and commercialization of products totreat conditions in urology and endocrinology. The Company's approvedproducts include SANCTURA(R) XR and SANCTURA(R) for overactive bladder,VANTAS(R) for advanced prostate cancer, SUPPRELIN(R) LA, for centralprecocious puberty, and DELATESTRYL(R) to treat male hypogonadism. TheIndevus development pipeline contains multiple compounds within the Company'score therapeutic areas in addition to several partnered or partnerableprograms. The most advanced compounds in development include, VALSTAR(R) forbladder cancer, NEBIDO(R) for male hypogonadism, PRO 2000 for the preventionof infection by HIV and other sexually-transmitted pathogens, and pagoclonefor stuttering.
Forward Looking Statements
Except for the descriptions of historical facts contained herein, thispress release contains forward-looking statements that involve risks anduncertainties that could cause the Company's actual results and financialcondition to differ materially from those anticipated by the forward-lookingstatements. These risks and uncertainties are set forth in the Company'sfilings under the Securities Act of 1933 and the Securities Exchange Act of1934 under "Risk Factors" and elsewhere, and include, but are not limited to:dependence on the success of SANCTURA(R), SANCTURA(R) XR, NEBIDO(R) ,VANTAS(R) and SUPPRELIN(R) LA; the early state of products under development;uncertainties relating to clinical trials, regulatory approval andcommercialization of our products, particularly SANCTURA XR, NEBIDO, andVALSTAR(R); risks associated with contractual agreements, particularly forthe manufacture and co-promotion of SANCTURA and SANCTURA XR and themanufacture of NEBIDO, VANTAS, SUPPRELIN LA and VALSTAR; dependence on thirdparties for supplies, particularly for histrelin, manufacturing, marketing,and clinical trials; competition; need for additional funds and corporatepartners, including for the development of our products; failure to acquireand develop additional product candidates; changes in reimbursement policiesand/or rates for SANCTURA, VANTAS, SUPPRELIN LA, DELATESTRYL(R) and any futureproducts; history of operating losses and expectation of future losses;product liability and insurance uncertainties; risks relating to the Redux-related litigation; the risk that the businesses of Indevus and ValeraPharmaceuticals, Inc. will not be integrated successfully during the periodfollowing the related merger; the risk that the cost savings and any othersynergies from the merger may not be fully realized or may take longer torealize than expected; market acceptance for the merger and approvedproducts; risks of regulatory review and clinical trials; disruption fromthe transaction making it more difficult to maintain relationships withcustomers, employees or suppliers; competition and its effect on pricing,spending, third-party relationships and revenues; reliance on intellectualproperty and having limited patents and proprietary rights; dependence onmarket exclusivity, valuation of our Common Stock; risks related to repaymentof debts; risks related to increased leverage; general worldwide economic