PATTERSON, N.Y., Jan. 25, 2010 (GLOBE NEWSWIRE) -- Penwest Pharmaceuticals Co. (Nasdaq:PPCO) today announced that it has signed its fourth research and development agreement with Otsuka Pharmaceutical Co., Ltd. of Japan for Penwest to develop a formulation of an undisclosed Otsuka compound utilizing Penwest's TIMERx® drug delivery technology. Under the terms of the agreement, Penwest will receive undisclosed fees and payments.
