TAIPEI, Nov. 12, 2015 /PRNewswire/ -- TWi Pharmaceuticals Inc. (4180.TT) ("TWi") today announced that its board has appointed Mr. Rick Pallokat as the Executive Vice President of its U.S. subsidiary, TWi Pharmaceuticals USA, Inc. ("TWi US"), to be responsible for its US Operations.
"We are very pleased to announce and welcome Mr. Rick Pallokat on board," said Dr. Chih-Ming Chen, Chairman of TWi. "Rick is well connected to the industry and has a great track record of success in the generic arena. Prior to joining TWi, Rick worked for Zenith Goldline, Andrx, and most recently Dava. During his time with Dava, Rick held various positions, including Sales VP, Operations VP, and Senior VP. He led and managed market development, product sales, supply chain, product pricing, and marketing strategies. He built the sales and marketing team that launched the first generic product for Dava and accomplished significant business results. We are glad to have him run our US sales operation, and look forward to his contribution to grow our US business."
Since its inception, TWi has been developing high entry barrier specialty generics aimed at the U.S. generic market as its core business strategy. To achieve commercial success in the U.S. market, the company set up its wholly-owned subsidiary in the US in 2014 and gained direct access to customers there. After years of R&D efforts, TWi rolled out its first batch of own labelled generics in Q1 2015. As of today, the company has launched four products in the US market successfully. Mr. Pallokat brings over 20 years breadth of experience and the company's Board is confident that he will be able to help increase TWi's product competitiveness and market penetration in the US.
TWi is also announcing that it will move its office location from California to New Jersey. With the move, the company expects to further expand its business through providing more timely response to customers, leveraging the clustering effect of pharma companies, and accessing a larger talent pool.
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 generics in the United States. For more information of TWi Pharmaceuticals, please visit www.twipharma.com.
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SOURCE TWi Pharmaceuticals, Inc.