DANBURY, Conn., May 19, 2009 (GLOBE NEWSWIRE) -- Penwest Pharmaceuticals Co. (Nasdaq:PPCO) today sent a letter to its shareholders in connection with the Company’s annual meeting to be held on June 10, 2009. 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.
