Eurand Enters Agreement With Daewoong Pharmaceutical Co. Ltd (South Korea) for Once-Daily...

Eurand Enters Agreement With Daewoong Pharmaceutical Co. Ltd (South Korea) for
Once-Daily Extended Release Muscle Relaxant

PHILADELPHIA, Pa., Aug. 1, 2008 (PRIME NEWSWIRE) -- Eurand N.V. (Nasdaq:EURX), a
specialty pharmaceutical company that develops, manufactures and commercializes
enhanced pharmaceutical and biopharmaceutical products based on its proprietary
drug formulation technologies, announced today that it has signed a license and
supply agreement with Daewoong Pharmaceuticals Co. Ltd, a leading South Korean
pharmaceutical company. Under terms of the agreement, Daewoong will
commercialize, subject to regulatory approval, Eurand's novel extended-release
(ER) formulation of the muscle relaxant Cyclobenzaprine HCl in South Korea.
Cyclobenzaprine ER has been developed using Eurand's innovative Diffucaps(r)
technology. Financial terms were not disclosed.

Andrew Thompson, Licensing Director of Eurand, commented, "We are pleased to
have signed this agreement with Daewoong, which marks an important step in our
business development in both South Korea and Southeast Asia. In this region, we
hope to emulate the success that our commercially proven technologies have
already achieved with currently marketed products in the United States, European
Union and Japan. Based on its successful track record in South Korea, we believe
Daewoong is well-positioned to maximize the market opportunity for this unique
once-daily muscle relaxant. With this agreement, we look forward to increasing
our presence in Southeast Asian markets through additional partnerships and
collaborations with leading pharmaceutical companies in the region."

Kwan-Soo Park, Business Development Director of Daewoong Pharmaceuticals Co.
Ltd, stated, "Eurand is an ideal partner for us and Cyclobenzaprine ER is an
excellent fit with our portfolio, providing us the opportunity to offer
physicians and patients the benefits of convenient dosing and low rates of
sedation. We believe there's a substantial market opportunity in South Korea for
this once-daily muscle relaxant."

Cyclobenzaprine HCl is a centrally acting muscle relaxant indicated as an
adjunct to rest for the relief of muscle spasm associated with acute, painful
musculoskeletal conditions. Cyclobenzaprine ER is marketed in the U.S. by
Cephalon under the brand name Amrix(r). Cyclobenzaprine ER is available for
licensing in certain other countries.

Eurand has a strong track record of developing enhanced biopharmaceutical and
pharmaceutical products using its innovative drug formulation technologies. The
Company has partnered with several leading global pharmaceutical companies
licensing its four primary technology platforms: Customized Drug Release,
Bioavailability Enhancement, Taste Masking and ODTs, and Drug Conjugation.
Currently, more than 40 products using these technologies are commercialized
worldwide in a variety of therapeutic indications, including:

* Gastro-Intestinal (Minitabs(r) Pancreatin formulations)
* Cardiovascular
* Osteoporosis
* Nutrition (Diffucaps(r) Vitamin C 500 mg Sustained Release capsules)
* Respiratory
* Pain Management (Diffucaps(r) Sodium Diclofenac Sustained Release
capsules)
Also, a variety of products are under further development using the AdvaTab(r)
Oral Disintegrating Tablet (ODT) technology, including:

* AdvaTab(r) formulations of over-the-counter (OTC) Paracetamol
250mg and 500mg strengths currently under registration in six
European Union countries.
* An AdvaTab(r) formulation of Diphenhydramine Citrate 25mg used
as a night-time sleep-aid and recently launched as an OTC by
Chattem, Inc. in the United States under the brand "Unisom(r)
SleepMelts."
A number of these products are available for licensing in certain countries
worldwide.

About Daewoong Pharmaceuticals Co. Ltd

Daewoong is a leading Korean pharmaceutical company with annual turnover of
nearly $500 million U.S. in 2007. In 2007, Daewoong Pharmaceutical Co. Ltd. was
ranked first in the South Korean pharmaceutical market in terms of requested
reimbursement totals, according to Health Insurance Review Agency (HIRA).
Besides being a global player, Daewoong is expanding its business to overseas
market throughout Asia first.

Daewoong engages in the research, development, manufacturing and marketing of
healthcare products. It offers products in various therapeutic fields including
cardiovascular diseases, metabolic disorders, disorder of central nerve system,
digestive disorders, oncology and vaccines.

Daewoong's R&D activity explores a broad spectrum of innovative approaches and
has developed new products in key therapeutic area such as EGF for Mucosytis and
Wounds, DWP05195 for Neuropathic Pain, and DWP06018 for Fungal Infection.

In particular, Daewoong has made numerous successful partnerships with
multinational pharmaceutical companies launching many blockbuster products on
the Korean market, and its strong growth is attributable to its dedication to
excellence in sales and marketing, which is backed by a comprehensive portfolio
of both innovative and generic prescription drugs.

For more information, visit Daewoong's website at www.daewoong.co.kr

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 partnered
products approved by the FDA since 2001 and has a pipeline of product candidates
in development for itself and its collaboration partners. Eurand completed two
phase III clinical trials for EUR-1008 (Zentase), intended for the treatment of
Exocrine Pancreatic Insufficiency and as announced on June 18, 2008, received an
approvable letter from the FDA for its NDA for this product. Eurand's technology
platforms include bioavailability enhancement of poorly soluble drugs,
customized release, taste-masking/fast-dissolving 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.

This release may include forward-looking statements. Such forward-looking
statements include those which express plan, anticipation, intent, contingency,
goals, targets or future development and/or otherwise are not statements of
historical fact. The words "potentially", "anticipates", "could", "calls for"
and similar expressions frequently identify forward-looking statements. These
statements are based upon management's current expectations and are subject to
risks and uncertainties, known and unknown, which could cause actual results and
developments to differ materially from those expressed or implied in such
statements. Factors that could affect actual results include risks associated
with the possibility that the FDA does not approve our NDA or delays approval;
the outcome of any discussions with the FDA; and unexpected delays or additional
requirements in preparation of materials for submission to the FDA as a part of
our NDA filing. Forward-looking statements contained in this press release are
made as of this date, and we undertake no obligation to publicly update any
forward-looking statement, whether as a result of new information, future events
or otherwise. Actual events could differ materially from those anticipated in
the forward-looking statements.

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CONTACT: Eurand
Bill Newbould
+1 267-759-9335
bill.newbould@eurand.com

The Ruth Group
Nick Laudico
+1 646-536-7030
nlaudico@theruthgroup.com
Sara Ephraim
+1 646-536-7002
sephraim@theruthgroup.com