DANBURY, Conn., June 9, 2009 (GLOBE NEWSWIRE) -- In an open letter to shareholders leading up to the Company's annual meeting to be held this Wednesday, June 10, 2009, Penwest Pharmaceuticals Co. (Nasdaq:PPCO) urges shareholders to vote "FOR" Penwest's director nominees on the WHITE proxy card and "AGAINST" the proposals put forth by Tang Capital and Perceptive Life Sciences. Shareholders who have voted the dissidents' gold proxy card can still reconsider and vote for value on the Company's WHITE card.
