Executive Summary

Enters joint venture with San Diego-based Intelligent Pharmaceuticals to market its OTC phenylpropanolamine transdermal patch. Intelligent Pharmaceuticals will oversee regulatory affairs for the venture and said it expects to file an NDA for the PPA patch by the end of April. Wilshire, which currently is transferring its manufacturing from Dallas to a new Mexican manufacturing site, acts as managing partner. Wilshire said the venture has already received 2 mil. orders from its Asian distributor, Lidex, and is now negotiating with distributors in Latin America.