Indevus Pharmaceuticals Announces Second Quarter Fiscal 2005 Results; Investor Conference Call Planned for May 10 2005 9:00 A.M. Eastern Time

"We are continuing to devote
much of our effort to the sales and marketing of SANCTURA(R ), our
product for overactive bladder, and to the development of our
once-daily version, SANCTURA XR(TM). "We believe
that SANCTURA has a strong profile, differentiated favorably from its
competition , and we are optimistic that SANCTURA will perform well as
prescription growth picks up in the coming months. and Africa. We expect to begin toxicology studies this quarter. The participant passcode is
27496849.

ohsu urologists

, co-chair of the NKF work group that developed the guideline. We believe it will improve patient outcomes and
encourage sorely needed research. "We expect to have results from this study late this year
or early next year, at which time we will discuss study design for
subsequent trials with the FDA. We are in the process of
planning the restart of the study later this year.
Marketing , general, and administrative costs for the three month
period increased to $8,187,000 from $5,782 ,000 for the corresponding
period last year, primarily due to costs related to our 85-person
specialty sales force, as well as other increases in headcount
necessary to support the Company's increased business activity,
partially offset by a reduction in advertising and promotion costs.

Conference call and web cast

The Company will hold a conference call and web cast to discuss
these results at 9:00 a. A replay of the call will be available beginning at 11:00 AM
on May 10, 2005 and lasting until 12:00 AM on May 30, 2005.8
percent for placebo) and constipation (9.

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.

INDEVUS PHARMACEUTICALS, INC.66)$ (0.

urologists urological

"We are
proud to partner with the National Kidney Foundation to sponsor the
development of this guideline.
To obtain more information about the guideline, call the National Kidney
Foundation at (800) 622-9010 or (212) 889-2210, or visit http://www.S.
"For aminocandin, we have identified the formulation issues that
caused, we believe, the local vein irritation that led to the
interruption of our multi-dose Phase I trial.

1 percent for SANCTURA vs.

niddk prostate

"Our program for SANCTURA XR is moving ahead as planned.
"We recently announced promising results from a study in which IP
751 was administered in an animal model of interstitial cystitis,"
said Dr. For the six-month
period ended March 31, 2005, consolidated costs and expenses were
$43,412,000, compared to $23,018,000 for the six-month period ended
March 31, 2004. 5.

urinary urologic

24 per share, basic, for the
three-month period ended March 31, 2004. "The
3,200 participant, NIH -sponsored trial was initiated in February with
sites in the U. "IP 751 suppressed the overactivity in a dose
dependent manner and at the highest dose completely reversed the
excessive bladder contractility to normal function. The live call
may be accessed by dialing 800-591-6944 from the U.S.

genitourinary gynecologic

"

Guideline Work Group
The NKF- K/DOQI Clinical Practice Guidelines for Cardiovascular Disease in
Dialysis Patients are the culmination of two years' work reviewing evidence
published in peer -reviewed medical journals by 18 volunteer experts in
nephrology, cardiology, epidemiology, social work, nutrition, pediatrics,
pharmacology, nursing and internal medicine.org.

About K /DOQI
The National Kidney Foundation's Kidney Disease Outcomes Quality
Initiative (K/DOQI) provides evidence-based clinical practice guidelines
developed by volunteer physicians and health care providers for all phases of
kidney disease and related complications, from diagnosis to monitoring and
management.
The Company reported a net loss of $9,720,000 or $0. that are due in connection
with the development of the once-a-day program.

urologists prostate

More than 300,000
Americans receive dialysis to treat kidney failure. To access
the replay, please dial 888-286-8010 from the U.

prolapse genitourinary

The guidelines, Cardiovascular Disease in Dialysis Patients, warn
that CVD is also prevalent in the pediatric dialysis population, dialysis
patients are more prone to side-effects of treatment and that more research is
needed to help better manage CVD in dialysis patients.49 per share, basic, for the six-month period ended March 31, 2004. We continue to be on
track for an NDA filing in the second half of 2006. Cooper . Cooper."

Financial Results

Consolidated revenues were $9,277,000 for the three-month period
ended March 31, 2005, compared to $876,000 for the three-month period
ended March 31, 2004 .S.S.

urgency nighttime

We
continue to make progress for each of our development programs and we
believe the pipeline is positioned to be a significant value-driver
for the Company over the next twelve months. Cooper .24) $ (0.

niddk voiding

m. For the six-month period
ended March 31, 2005, the Company reported a net loss of $30 ,869,000
or $0. This trial will consist of approximately 12,000
participants in four countries in Africa.
"Other pipeline development plans include a Phase II trial for
pagoclone in stuttering which is scheduled to begin by mid-year," said
Dr.
"Finally, we continue to be quite active on the business
development front.indevus.

nighttime bladder

At March 31, 2005, the Company had cash, cash equivalents and
marketable securities totaling approximately $117,465,000.
SANCTURA(R) is indicated for the treatment of overactive bladder
with symptoms of urge urinary incontinence, urgency and urinary
frequency .

urinary prolapse

"This guideline highlights those aspects of CVD care that are different in
dialysis patients when compared to the general population," said Alfred K. Additionally, IP
751 appeared to have no effect on the normal voiding mechanism of the
bladder. An archived version of the call will be
accessible at the same web address for 20 days following the live
call.6 percent for placebo).

tract urologists

, co-chair of the guideline work group, developed
through the NKF's Kidney Disease Outcomes Quality Initiative (K/DOQI),
highlighted key findings:

* Pediatric chronic dialysis patients are 1,000 times more likely to die
from CVD than the general pediatric population
* All dialysis units should have on-site capability for external cardiac
defibrillation, such as automatic external defibrillators
* Predialysis and postdialysis blood pressure goals should be less than
140/90 mm Hg and less than 130/80 mm Hg, respectively
* Dialysis patients often have CVD -related risk factors, including
anemia, hyperparathyroidism, hypoalbuminemia and chronic inflammation ,
among others. Sponsors are not involved in any
aspect of the actual guideline development process.D. In April, we announced funding of the
Medical Research Council-sponsored trial, scheduled to begin within
the next few months. As we have stated previously, one of our most
important near -term goals is to leverage our sales and marketing
infrastructure and capabilities, through the co -promotion, licensing,
or acquisition of late-stage or marketed urology products. Research and
development costs for the three month period ended March 31, 2005
increased 17% versus the corresponding period in fiscal 2004 to
$6,011,000, due to increased pipeline development activities.m.

urological niddk

For more
information , please visit http://www.kidney.

Business Editors/Health Editors

LEXINGTON, Mass. (NASDAQ: IDEV) today announced its consolidated
results of operations for the three and six-month periods ended March
31, 2005.21) $ (0.

urethra urologists

K/DOQI expands the Dialysis Outcomes Quality Initiative or DOQI , a
project begun by the National Kidney Foundation in 1995 and recognized
throughout the world for improving the care of dialysis patients.org.

The Company will host a conference call today, May 10, 2005,
at 9 a.66 per share, basic, compared with a net loss of $23,394,000, or
$0., chairman, president
and chief executive officer of Indevus.
The Company's consolidated costs and expenses for the three-month
period ended March 31, 2005 were $17,573,000 compared to $11,133 ,000
for the three-month period ended March 31, 2004. 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(R) 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.49)
======== ========= ======== ========

Weighted average common shares:
Basic and diluted 46,967 47,397 46,946 47,304
======== ========= ======== ========

INDEVUS PHARMACEUTICALS, INC.

gynecologic pituitary

Guideline Sponsors
Satellite Healthcare is Primary Development Sponsor of the guideline. In addition, findings from a
study of PRO 2000 performed at Mount Sinai were presented at the 12th
Conference on Retroviruses and Opportunistic Infections in February.com .

infections laparoscopy

d. eastern time on May 10, 2005. and Canada, and
617-614-4910 from international locations.
Indevus Pharmaceuticals is a biopharmaceutical company engaged in
the acquisition, development and commercialization of products
targeting certain medical specialty areas, including urology and
infectious diseases .
clinical trials were dry mouth (20.

bladder fibroids

kdoqi.----Indevus
Pharmaceuticals, Inc.21 per share,
basic , for the three-month period ended March 31, 2005, compared to a
net loss of $11,370,000, or $0. In addition, we are very
optimistic about the prospects for our clinical stage pipeline. While several
competitive products have lost market share during the past quarter,
we have been able to maintain our share," said Dr. To
this end, we are making progress on several opportunities which we
believe will add significant value for the Company and its
shareholders. Product revenue of $4,238,000
in the three-month period ended March 31, 2005 included $3,015,000
from sales of SANCTURA to PLIVA, $799,000 in royalties from PLIVA on
sales of SANCTURA, and $422,000 of royalties from Eli Lilly and
Company for sales of Sarafem. Contract and license fee revenue of
$5,039,000 during the quarter relates almost entirely to the PLIVA
Agreement. Patients who have urinary retention, gastric
retention , uncontrolled narrow-angle glaucoma or hypersensitivity to
SANCTURA should not use SANCTURA.

urologists gynecologic

The net loss for the quarter ended March 31, 2005 represents an
$11,429,000 decrease from the net loss of $21,149,000 for the
three-month period ended December 31, 2004.
"For SANCTURA, I am very pleased that we have been able to
maintain our market share, despite the introduction of two new
products into the overactive bladder marketplace.
"We are very pleased to have the Phase III program underway for
PRO 2000, our compound for the prevention of the sexual transmission
of HIV and other sexually transmitted diseases," said Dr.
This important study marked the first time the anti-viral activity of
a microbicide has been demonstrated following human application. For the six-month period ended March 31, 2005,
consolidated revenues were $15,040,000 compared to $1,803,000 for the
six-month period ended March 31, 2004. Included is $3,125,000 from the amortization of deferred
revenue and $1,920,000 for three months of sales force subsidy from
PLIVA.6 percent for SANCTURA vs.

nighttime voiding

Cheung , M."
William Henrich, M. For more information, please visit http://www. Cooper, M. We are
scheduled to enter Phase III this summer, triggering the first of
three milestone payments from PLIVA d. We have now completed a second study confirming these
results. The most commonly reported side effects in Phase III U.
4.

genitourinary urology

About the National Kidney Foundation
The National Kidney Foundation is dedicated to preventing kidney and
urinary tract diseases, improving the health and well being of individuals and
families affected by these diseases, influencing public policy in support of
the kidney community and increasing the availability of all organs for
transplantation.
"The past quarter has been very active for the Company, as we
continue to make steady progress toward the achievement of our
objectives for 2005," said Glenn L. Cooper.
The press release and the live web cast will be accessible by
visiting the Investors section of the Company's website,
http://www.

gynecologic infections

New National Kidney Foundation Guidelines Warn Cardiovascular Disease is the Leading Cause of Death Among Dialysis Patients

D.D.
Additional guideline sponsors include: Amgen and Genzyme Corporation. Amgen is
Founding and Principal Sponsor of NKF-K/DOQI.
CONDENSED CONSOLIDATED BALANCE SHEETS
(Amounts in thousands)
(Unaudited)

March 31, September 30,
2005 2004
------------------ ---------
Cash, cash equivalents and marketable
securities $117,465 $157,008
Other assets 13,970 16,830
---------------------------
Total assets $131,435 $173,838
===========================

Convertible notes 72,000 72,000
Deferred revenue 137,500 143,750
Other liabilities 15,127 21,126

Capital 306,581 305,865
Accumulated deficit (399,773) (368,903)
---------------------------
Total stockholders' deficit (93,192) (63,038)
---------------------------
Total liabilities and stockholders'
deficit $131,435 $173,838
===========================

fibroids ohsu

NEW YORK, Cardiovascular disease (CVD) is the
leading cause of death among dialysis patients, but the treatment for dialysis
patients with CVD is not as effective as it is in the general population,
according to new guidelines published by the National Kidney Foundation (NKF)
in a supplement to the April 2005 issue of the American Journal of Kidney
Diseases., eastern time (details follow below). Distribution of
samples has been quite heavy and consequently, growth in prescriptions
and new patient starts has slowed considerably.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
For the three and six months ended March 31, 2005 and 2004
(Amounts in thousands except per share data)
(Unaudited)

For the three months For the six months
ended March 31, ended March 31,
-------------------- -----------------
2005 2004 2005 2004
-------- --------- -------- --------

Total revenues $ 9,277 $ 876 $ 15,040 $ 1,803

Costs and expenses:
Cost of revenues 3,375 209 5,855 524
Research and development 6,011 5,142 11,889 12,696
Marketing , general and
administrative 8,187 5,782 25,668 9,798
-------- --------- -------- --------
Total costs and expenses 17,573 11,133 43,412 23,018
-------- --------- -------- ---- ----

Loss from operations (8,296) (10,257) (28,372) (21,215)

Investment income 739 180 1,413 406
Interest expense (1,293 ) (1,293) (2,585) (2,585)
Impairment of equity securities (175) - (175) -
-------- --------- -------- --------
Loss before income taxes (9,025) (11,370) (29,719) (23,394)
Provision for income taxes (695) - (1,150) -
-------- --------- -------- --------
Net loss $ (9,720) $ (11,370) $(30,869)$(23,394)
======== ========= ======== ========

Net loss per common share:
Basic and diluted $ (0.

niddk penis

"Because of these differences, practitioners cannot solely rely on existing
CVD guidelines for the general population to treat CVD in dialysis patients.

"CVD presents unique challenges to dialysis patients that significantly
impact longevity and quality of life," said Norman S. Coplon, chairman and
founder of Satellite Healthcare, primary sponsor of the guideline.kdoqi. and Canada, and
617-801-6888 from international locations, using the passcode
84508753. The Company currently markets SANCTURA(R) for
overactive bladder and has multiple compounds in clinical development ,
including PRO 2000 for the prevention of infection by HIV and other
sexually transmitted pathogens , pagoclone for stuttering, aminocandin
for systemic fungal infections, and IP 751 for interstitial cystitis.

Disorders of the genital and urinary organs or their functions.

voiding urologic

org. We believe
we are well -positioned to capitalize on unique product opportunities
in our core areas of urology, gynecology , and infectious diseases. Costs of product revenue relate primarily to sales of
SANCTURA to PLIVA and royalties to Madaus for SANCTURA.