PENWEST TO INITIATE DISPUTE RESOLUTION PROCEDURES UNDER AGREEMENT WITH ENDO FOR OPANA ER

Penwest Pharmaceuticals Co. said that it intends to initiate the dispute resolution procedures as provided for under its agreement with Endo Pharmaceuticals Inc., its partner in the development and commercialization of Opana ER (oxymorphone HCl) extended-release tablets CII. The dispute is regarding the responsibility of Endo for the losses that both Endo and Penwest expect to occur during the marketing period for Opana ER provided for in the agreement.
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