SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                  SCHEDULE 13G

                    Under the Securities Exchange Act of 1934
                          (Amendment No.___________)*


                            Indevus Pharmaceuticals, Inc.
              -----------------------------------------------------
                                (Name of Issuer)

                        Common Stock, $.001 par value
          -------------------------------------------------------------
                         (Title of Class of Securities)

                                454072109
              -----------------------------------------------------
                                 (CUSIP Number)



Check the appropriate box to designate the rule pursuant to which this Schedule
is filed:

[  ] Rule 13d-1(b)

[XX] Rule 13d-1(c)

[  ] Rule 13d-1(d)


*The  remainder of this cover page shall be filled out for a reporting  person's
initial filing on this form with respect to the subject class of securities, and
for any  subsequent  amendment  containing  information  which  would  alter the
disclosures provided in a prior cover page.

The information required in the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the  Securities  Exchange  Act of
1934 ("Act") or otherwise  subject to the liabilities of that section of the Act
but  shall be  subject  to all other  provisions  of the Act  (however,  see the
Notes).



                              Page 1 of  6  pages





CUSIP No. 454072109                13G                    Page 2 of  6 Pages



--------------------------------------------------------------------------------
   1   NAME OF REPORTING PERSON
       S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON

       J. Morton Davis


--------------------------------------------------------------------------------
   2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                                                             (a)  [  ]
                                                             (b)  [  ]


--------------------------------------------------------------------------------
   3   SEC USE ONLY




--------------------------------------------------------------------------------
   4   CITIZENSHIP OR PLACE OF ORGANIZATION


         New York

--------------------------------------------------------------------------------
   NUMBER OF      5    SOLE VOTING POWER
     SHARES            3,359,393
  BENEFICIALLY    --------------------------------------------------------------
    OWNED BY      6    SHARED VOTING POWER
      EACH             0
  REPORTING       --------------------------------------------------------------
     PERSON       7    SOLE DISPOSITIVE POWER
      WITH             3,359,393
                  --------------------------------------------------------------
                  8    SHARED DISPOSITIVE POWER
                       0

--------------------------------------------------------------------------------
   9   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON


                       3,359,393
--------------------------------------------------------------------------------
  10   CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*



--------------------------------------------------------------------------------
  11   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)


                       7.2%
--------------------------------------------------------------------------------
  12   TYPE OF REPORTING PERSON*


                      PN
--------------------------------------------------------------------------------
                     *SEE INSTRUCTIONS BEFORE FILLING OUT


CUSIP No. 454072109                   13G                    Page 3 of 6 Pages



--------------------------------------------------------------------------------
   1   NAME OF REPORTING PERSON
       S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON

       D.H. Blair Investment Banking Corp.


--------------------------------------------------------------------------------
   2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                                                             (a)  [  ]
                                                             (b)  [  ]


--------------------------------------------------------------------------------
   3   SEC USE ONLY




--------------------------------------------------------------------------------
   4   CITIZENSHIP OR PLACE OF ORGANIZATION


       Delaware

--------------------------------------------------------------------------------
   NUMBER OF      5    SOLE VOTING POWER
     SHARES            3,250,637
  BENEFICIALLY    --------------------------------------------------------------
    OWNED BY      6    SHARED VOTING POWER
      EACH             0
   REPORTING      --------------------------------------------------------------
     PERSON       7    SOLE DISPOSITIVE POWER
      WITH             3,250,637
                  --------------------------------------------------------------
                  8    SHARED DISPOSITIVE POWER

                       0
--------------------------------------------------------------------------------
   9   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

                       3,250,637

--------------------------------------------------------------------------------
  10   CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*



--------------------------------------------------------------------------------
  11   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)


                       7%
--------------------------------------------------------------------------------
  12   TYPE OF REPORTING PERSON*

                  CO.
--------------------------------------------------------------------------------
                     *SEE INSTRUCTIONS BEFORE FILLING OUT



                                                        Page 4 of 6 Pages
Item 1.
         (a)   Name of Issuer:
               Indevus Pharmaceuticals, Inc.

         (b)   Address of Issuer's Principal Executive Offices:
               One Ledgemont Center
               99 Hayden Avenue
               Lexington, MA  02421


Item 2.
         (a)   Name of Person Filing:

               J. Morton Davis and D.H. Blair Investment Banking Corp.
               ("Blair Investment") (together, the "Reporting Parties").

         (b)   Address of Principal Business Office or, if None, Residence:

               The  Reporting  Parties'  business  address is 44 Wall Street,
               New York, NY  10005.

         (c)   Citizen:

               Mr. Davis is a United States citizen.  Blair Investment is
               incorporated in the State of Delaware.

         (d)   Title of Class of Securities:
               Common Stock, $.001 par value ("shares").

         (e)   CUSIP#:
               454072109


Item 3.     If this statement  is filed  pursuant to Rules  13d-1(b), or
            13d-2(b), check whether the person filing is a:

            (a)   [X]   Broker or Dealer  registered under Section  15 of  the
                        Act

            (b)   [ ]   Bank as defined in section 3(a)(6) of the Act

            (c)   [ ]   Insurance Company  as defined  in section  3(a)(19) of
                        the Act

            (d)   [ ]   Investment Company registered under  section 8 of  the
                        Investment Company Act of 1940

            (e)   [ ]   An investment adviser in accordance with 240.13d-1
                        (b)(1)(ii)(E)

            (f)   [ ]   An employee benefit Plan or endowment fund in
                        accordance with 240.13d-1(b)(1)(ii)(F)

            (g)   [ ]   A parent holding Company or control person in
                        accordance  with  240.13d-1(b)(1)(ii)(G)

            (h)   [ ]   A savings associations as defined in Section 3(b) of
                        the Federal Deposit Insurance Act

            (i)   [ ]   A church plan that is excluded from definition of an
                        investment company under section 3(c)(14) of the
                        Investment Company Act of 1940.



 
                                                        Page 5 of 6 Pages
Item 4.   Ownership:


        (a)(b) As of August 7, 2002,  Mr. Davis may be deemed to  beneficially
               own  3,359,393  shares or 7.2% of the Issuer's  shares issued and
               outstanding  as follows:  (i) 50,156 shares owned directly by Mr.
               Davis,  (ii) 3,250,637 shares owned directly by Blair Investment,
               and (iii)  58,600  shares owned  directly by Rosalind  Davidowitz
               (1).


               As of August 7, 2002, Blair Investment may be deemed to
               beneficially own 3,250,637 shares or 7% of the Issuer's shares
               issued and outstanding as indicated in (ii) above.

           (c) Mr. Davis has sole power to vote or to direct the vote, to
               dispose or to direct the disposition of those shares owned by
               Blair Investment.  Rosalind Davidowitz has sole voting and
               dispositive power over those shares owned directly by her.


Item 5.   Ownership of Five Percent or Less of a Class:

               Not applicable.


Item 6.   Ownership of More than Five Percent on Behalf of Another Person:

               Not applicable.


Item 7.   Identification and Classification of the Subsidiary Which
          Acquired the Security Being Reported on By the Parent Holding
          Company:

               Not  applicable



Item 8.    Identification and Classification of Members of the Group:

              Not applicable.


Item 9.     Notice of Dissolution of Group:

              Not applicable.


_______________________________________________________________________________

     (1) Rosalind  Davidowitz is Mr. Davis' wife. Filing of this statement shall
not be deemed an  admission  by J. Morton  Davis that he  beneficially  owns the
securities  attributed to Rosalind  Davidowitz for any purpose.  J. Morton Davis
expressly  disclaims  beneficial  ownership of all  securities  held by Rosalind
Davidowitz for any purpose.




                                                       Page 6 of 6 Pages

Item 10. Certification: By signing below we certify that to the best of our
         knowledge  and belief,  the  securities  referred to above were
         acquired in the ordinary  course  of  business  and were not  acquired
         and are not held for the purpose of and do not have the effect of
         changing or influencing  the control of the issuer of such  securities
         and were not acquired and are not held in  connection  with or as
         participant in any transaction having such purpose of effect.


                                   SIGNATURES

         After  reasonable  inquiry and to the best  knowledge and belief of the
Reporting Persons, each such person or entity certifies that the information set
forth in this statement is true, complete and correct.








                                                 /s/ J. Morton Davis
Dated:   August 8, 2002                  By:________________________________
         New York, New York                       J. Morton Davis







                                        D.H. Blair Investment Banking Corp.



                                                 /s/ J. Morton Davis
Dated:   August 8, 2002                  By:________________________________
         New York, New York                       J. Morton Davis
                                                  Chairman