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. About Abstral(R) 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 2010). 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 www.paladinlabs.com. 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 -30- FOR FURTHER INFORMATION PLEASE CONTACT: Samira Sakhia Chief Financial Officer Paladin Labs Inc. 514-669-5367 514-344-4675 email@example.com INDUSTRY: Pharmaceuticals and Biotech - Biotech, Pharmaceuticals and Biotech - Drugs, Pharmaceuticals and Biotech - Equipment and Supplies, Pharmaceuticals and Biotech - Trials SUBJECT: PDT -0--0- Jun/14/2011 12:00 GMT
Paladin Labs Announces the Canadian Launch of Abstral(R)
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