Press Release (March 19th, 2009)

PharmaSwiss SA Signed Marketing Agreement for Once-Daily Extended Release Muscle Relaxant with Eurand for Israel

Zug / Prague / Tel Aviv, March 17, 2009

PharmaSwiss SA announced today that it has signed a commercialization, license and supply agreement with Eurand  N.V. (NASDAQ: EURX) for Eurand’s novel extended-release (ER) formulation of the muscle relaxant cyclobenzaprine HCI.

“We are pleased to announce this agreement with Eurand and that Eurand has chosen to license  Cyclobenzaprine ER  through our company”, said Stuart Swanson, PharmaSwiss President of Corporate Development.

Cyclobenzaprine HCl, developed using Eurand’s innovative Diffucaps® technology, is a centrally acting muscle relaxant indicated as an adjunct to rest for the relief of muscle spasm associated with acute, painful musculoskeletal conditions.  

About Eurand

Eurand is a specialty pharmaceutical company that develops, manufactures and commercializes enhanced pharmaceutical and biopharmaceutical products based on its proprietary drug formulation technologies.  Eurand has had four products approved by the FDA since 2001 and has a pipeline of product candidates in development for itself and its collaboration partners. Its technology platforms include bioavailability enhancement of poorly soluble drugs, custom release profiles, taste-masking orally disintegrating tablet (ODT) formulations, and drug conjugation. Eurand is a global company with facilities in the U.S. and Europe. 
For more information, visit Eurand’s website at www.eurand.com

About PharmaSwiss SA

Established in 2000 and based in Zug, Switzerland, PharmaSwiss offers full third-party representation of specified drugs or portfolios from research-based pharmaceutical and biotech companies, including drug registration, promotion, sales, compliance and pharmacovigilance. It represents several blue chip clients such as Amgen, Bristol-Myers Squibb, Wyeth Pharmaceuticals, Ipsen, Astellas Pharma, Eli Lilly and Ferring. PharmaSwisscurrently operates in Serbia, Croatia, Slovenia, Poland, Baltic countries, Czech Republic, Hungary, Romania, Bulgaria, Slovakia, Albania, Greece, Turkey and Israel. During the course of 2008, PharmaSwiss has launched operations in Hungary, Romania and Turkey and during 2009 in Poland. Development plans for the following years include also entering Russia and CIS. The company has more than 600 employees and achieved turnover of €130 million in 2008.
For more information, please visit: www.pharmaswiss.com