TAIPEI, Feb. 23, 2015 /PRNewswire/ -- TWi Pharmaceuticals, Inc. ("TWi") (4180:Taiwan) today announced that TWi and Teva Pharmaceuticals ("Teva") have reached an agreement that will transfer the United States (U.S.) sales and distribution rights of TWi's generic versions of Megace® ES (megestrol acetate oral suspension, 625 mg/ 5 ml) and Lidoderm® (lidocaine patch, 5%) from Teva to TWi. TWi will distribute both products through its wholly-owned subsidiary, TWi Pharmaceuticals USA.
TWi has assembled a sales and distribution team in the U.S. and plans to launch several products in the U.S. under TWi's label this year.
"We are excited that we are going to sell our products under the TWi label and TWi will be able to enjoy all the profits derived from the products. We are optimistic about the change, which is consistent with the company strategy," said Dr. Calvin Chen, President of TWi Pharmaceuticals, Inc.
About TWi Pharmaceuticals, Inc.
TWi Pharmaceuticals, Inc. is a leading specialty pharmaceutical company based in Taipei, Taiwan, focusing on the development of high barrier generic prescription products ranging from oral controlled release dosage form to novel drug delivery systems including the utilization of nanoparticles, transdermal, and polymeric oral delivery systems. Leveraging its internal research and development capabilities, together with operational flexibility, process development, manufacturing and regulatory expertise, TWi Pharmaceuticals concentrates on products and technologies that present significant barriers to entry or offer Paragraph IV first-to-file or first-to-market opportunities in the United States. For more information of TWi Pharmaceuticals, please visit www.twipharma.com.
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SOURCE TWi Pharmaceuticals, Inc.