DANBURY, Conn., May 2, 2008 (PRIME NEWSWIRE) -- Penwest Pharmaceuticals Co. (Nasdaq:PPCO) announced today that its 2007 Annual Report to Shareholders, including audited financial statements for the company's fiscal year ended December 31, 2007, is now available online at its website, www.penwest.com. The 2007 Annual Report can be accessed by selecting "Annual Reports" on the Investor Relations web page. Shareholders of the company may obtain a hard copy of the 2007 Annual Report, free of charge, by sending a request to:
Corporate Secretary Penwest Pharmaceuticals Co. 39 Old Ridgebury Road, Suite 11 Danbury, CT 06810
The 2007 Annual Report includes the company's annual report on Form 10-K, which the company filed with the SEC on March 17, 2007.
About Penwest Pharmaceuticals
Penwest is a drug development company dedicated to bringing to the marketplace innovative products that help improve the lives of patients. The Company's goal is to identify, develop and commercialize prescription products that address unmet medical needs, primarily for diseases of the nervous system. Penwest is currently applying its drug delivery and drug development expertise to a pipeline of potential products that are in various stages of development and that it intends to commercialize independently or through third party alliances.
Forward-Looking Statement
The matters discussed herein contain forward-looking statements that involve risks and uncertainties, which may cause the actual results in future periods to be materially different from any future performance suggested herein. For this purpose, any statements contained herein that are not statements of historical fact may be deemed to be forward-looking statements. Without limiting the foregoing, the words "believes," "anticipates," "plans," "expects," "intends," "potential" and similar expressions are intended to identify forward-looking statements. Important factors that could cause results to differ materially include: risks relating to the commercial success of Opana ER, including our reliance on Endo for the commercial success of Opana ER and risks of generic competition, the need for capital, regulatory risks relating to drugs in development, including the timing and outcome of regulatory submissions and regulatory actions; uncertainty of success of collaborations; the timing of clinical trials whether the results of clinical trials will warrant further clinical trials, warrant submission of an application for regulatory approval of, or warrant the regulatory approval of, the product that is the subject of the trial; whether the patents and patent applications owned by us will protect the Company's products and technology and prevent others from infringing it; actual and potential competition; and other risks as set forth under the caption Risk Factors in Penwest's Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 17, 2008, which risk factors are incorporated herein by reference.
The forward-looking statements contained in this press release speak only as of the date of the statement made. Penwest disclaims any intention or obligation to update any forward-looking statements.
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