OWP Pharmaceuticals to develop schizophrenia drug

NAPERVILLE - OWP Pharmaceuticals Inc. said it has received approval from the U.S. Food and Drug Administration to develop the first liquid formulation of quetiapine fumarate, a drug used to treat schizophrenia and bipolar disorder.

This represents the third of several oral suspensions OWP hopes to commercialize over the next several years, the privately held company said.

"The potential advantage of this alternative dosage form is that it may be preferred for adult patients who experience swallowing difficulties or for adults and adolescents who have trouble swallowing tablets or capsules," said Scott Boyer, founder and chief executive officer of OWP.

Quetiapine fumarate is an atypical antipsychotic and the tablets, for oral use, were first approved in the U.S. in 1997. The medication is widely prescribed by health care providers in psychiatry who treat adolescent and adult patients.