DANBURY, Conn., May 7, 2009 (GLOBE NEWSWIRE) -- Penwest Pharmaceuticals Co. (Nasdaq:PPCO) announced today that it has filed its definitive proxy statement with the U.S. Securities and Exchange Commission and is mailing it, along with the letter below, to Penwest shareholders in connection with the Company’s annual meeting to be held on June 10, 2009. In the letter, Penwest urges shareholders to vote “FOR” Penwest’s director nominees on the WHITE proxy card and “AGAINST” the shareholder proposals put forth by Tang Capital Management, L.P. and Perceptive Life Sciences Master Fund Ltd.
