Officials at TheraTech, 417 Wakara Way, a company manufacturing controlled drug-release delivery systems, said the recent trading volume of the company stock reflects the disposition of 683,000 TheraTech shares by Solvay Pharmaceuticals Inc., one of the company's early investors.
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Dinesh C. Patel, TheraTech president and chief executive officer, said the transaction completed the planned disposition by Solvay of all its TheraTech shares."Solvay made its initial investment in TheraTech in 1988 and has seen it appreciate significantly. The long-term association between our two companies has been mutually rewarding and Solvay's commitment to our product development activities remains strong," Patel said.