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- Par Pharmaceutical Drops Appeal And Agrees To Pay TWi Pharmaceuticals The Full Amount Of Damages Awarded By The District Court
November 11, 2016. TWi Pharmaceuticals, Inc. (“TWi”) (Stock Ticker: 4180.TT) today announced that it has reached an agreement with Par Pharmaceutical Inc. to drop their respective appeals, provided that Par transmits the full US $12.7 million in damages with interest awarded to TWi by the United States District Court for the District of Maryland. Once TWi receives the full payment the parties will dismiss their appeals and TWi will file a satisfaction of judgment in the District Court, thereby fully and finally resolving the parties’ long-standing dispute.
TWi’s Abbreviated New Drug Application (“ANDA”) for its generic version of MEGACE ES® is currently the only approved generic equivalent of MEGACE ES®.
About TWi Pharmaceuticals, Inc.
TWi Pharmaceuticals, Inc. is a leading specialty pharmaceutical company based in Taipei, Taiwan, focusing on the development of high-entry-barrier generic prescription products ranging from oral controlled release dosage form to novel drug delivery systems including the utilization of nanoparticles, transdermal, and 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 unparalleled market opportunities in the United States.
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