NEWS RELEASE TRANSMITTED BY MARKETWIRE
FOR: Paladin labs Inc.
TSX SYMBOL: PLB
June 14, 2011
Paladin Labs Announces the Canadian Launch of Abstral(R)
MONTREAL, CANADA--(Marketwire - June 14, 2011) - Paladin labs Inc. (TSX:PLB), a
leading Canadian specialty Pharmaceutical company, announced today the launch
of Abstral(R) (fentanyl citrate sublingual tablet). Abstral(R) is a novel,
rapidly-disintegrating, sublingual (under the tongue) formulation of fentanyl,
a well-established opioid used for the management of breakthrough pain for
cancer patients already receiving, and tolerant to opioid analgesics for
chronic pain. Abstral(R) will complement Paladin's growing pain franchise
which includes Tridural(R), Metadol(R) and Pennsaid(R).
"Though officially launching today, Abstral(R) has been available to
patients and their physicians in Canada for almost 2 months under our
compassionate early use program", said Jonathan Ross Goodman, President
and CEO of Paladin Labs. "This early experience program with Abstral(R)
has seen meaningful and heart-warming quality of life improvements in many
patients taking our product. The importance of this quality of life improvement
to patients, their families and care givers should not be underestimated and
gives us confidence as we now transition into the full commercial launch phase
of this important new product."
Paladin obtained the Canadian rights from ProStrakan Group plc
("ProStrakan"), a wholly owned subsidiary of Kyowa Hakko Kirin Co.,
Ltd., (TSE:4151) in December 2008 and was granted Canadian regulatory approval
in February 2011.
Abstral(R) is a fast-acting and rapidly disintegrating tablet for sublingual
administration of fentanyl intended for the management of breakthrough pain in
cancer patients who are already receiving, and tolerant to opioid analgesics
for their underlying persistent cancer pain.
Abstral(R) is already marketed by ProStrakan across the principal European
markets. In the top four European markets, Abstral(R) achieved a 24% market
share by tablet volume of short-acting fentanyl products (Source: IMS data June
About Breakthrough Cancer Pain
Breakthrough cancer pain ("BTP") is defined as rapid onset and short
duration exacerbations of severe pain experienced by patients who have
relatively stable and adequately controlled baseline pain.(1) It is known as
BTP because it "breaks through" a regular pain medicine schedule. For
some patients, BTP occurs during certain everyday activities, such as walking
or dressing. For others, it occurs unexpectedly without any apparent cause.
Between 64% to 89% of patients with cancer experience BTP and they average 4 to
7 episodes per day. (2)
In a recent survey of patients with cancer related BTP(3):
89% stated that BTP negatively affected their quality of life
73% stated that BTP wakes them from a deep sleep at least once a month
76% stated that BTP affects their ability to perform everyday household chores
75% stated that BTP is one of the most challenging effects of having cancer
35% stated that BTP affects their relationships with their family members
82% stated that BTP negatively affects their emotional health
About Paladin Labs Inc.
Paladin Labs Inc., headquartered in Montreal, Canada, is a specialty
pharmaceutical company focused on acquiring or in-licensing innovative
pharmaceutical products for the Canadian market. With this strategy, a focused
national sales team and proven marketing expertise, Paladin has evolved into
one of Canada's leading specialty pharmaceutical companies. Paladin's
shares trade on the Toronto Stock Exchange under the symbol PLB. For more
information about Paladin, please visit the Company's web site at
This press release may contain forward-looking statements and predictions.
These forward-looking statements, by their nature, necessarily involve risks
and uncertainties that could cause actual results to differ materially from
those contemplated by the forward-looking statements. The Company considers the
assumptions on which these forward-looking statements are based to be
reasonable at the time they were prepared, but cautions that these assumptions
regarding the future events, many of which are beyond the control of the
Company and its subsidiary, may ultimately prove to be incorrect. Factors and
risks, which could cause actual results to differ materially from current
expectations, are discussed in the annual report as well as in the
Company's Annual Information Form for the year ended December 31, 2010.
The Company disclaims any intention or obligation to update or revise any
forward-looking statements whether as a result of new information or future
events and except as required by law. For additional information on risks and
uncertainties relating to these forward-looking statements, investors should
consult the Company's ongoing quarterly fillings, annual report and Annual
Information Form and other fillings found on SEDAR at www.sedar.com.
(1) Portenoy RK, Hagen NA. Pain 1990; 41: 273-281
(2) Portenoy RK et al. Pain 1999; 81(1-2):129-134
(3) The American Pain Foundation. Breakthrough Cancer Pain Survey Fact Sheet
FOR FURTHER INFORMATION PLEASE CONTACT:
Chief Financial Officer
Paladin Labs Inc.
INDUSTRY: Pharmaceuticals and Biotech - Biotech, Pharmaceuticals and Biotech -
Drugs, Pharmaceuticals and Biotech - Equipment and Supplies, Pharmaceuticals
and Biotech - Trials
-0--0- Jun/14/2011 12:00 GMT
Press spacebar to pause and continue. Press esc to stop.