As a result of the amended and restated license, commercialization and supply agreement, Indevus has determined that the amended contract will be accounted for as one unit of accounting. Accordingly, all revenue generated by the Company under the agreement, including related previously deferred revenue, will be recognized using the contingency adjusted performance method of accounting over the Company's five year performance period.
The transaction with Allergan does not change the Company's previously announced licensing agreement with Madaus GmbH to sell SANCTURA XR in certain territories outside the United States. Under the terms of that agreement, Madaus has the rights to sell SANCTURA XR outside the U.S. except in Canada, Japan, Korea and China, where Indevus and Madaus will share equally in the economics.
Conference call and webcast
The Company will hold a conference call and webcast to discuss these results at 12:30 p.m. eastern time on September 19, 2007. The live call may be accessed by dialing 888-396-2369 from the U.S. and Canada, and 617-847-8710 from international locations. The participant passcode is 77965317. A replay of the call will be available beginning at 3:30 p.m. on September 19, 2007 and lasting until 3:30 p.m. on October 19, 2007. To access the replay, please dial 888-286-8010 from the U.S. and Canada, and 617-801-6888 from international locations, using the passcode 65968280.
The press release and the live webcast will be accessible by visiting the Investors section of the Company's website, http://www.indevus.com. An archived version of the call will be accessible at the same web address for 30 days following the live call.
|SOURCE Indevus Pharmaceuticals, Inc.|
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