Paladin Labs Inc. (CC:PLB) And Glide Pharma Sign Exclusive Agreement for Novel Needle-Free Drug Delivery System
8/10/2007 8:30:52 AM
MONTREAL, CANADA--(MARKET WIRE)--Aug 9, 2007 -- Paladin Labs Inc. (Toronto:PLB.TO - News), a leading Canadian specialty pharmaceutical company, today announced that it has entered into an exclusive license and distribution agreement with Glide Pharmaceutical Technologies Limited (Glide Pharma(TM)) to develop and market Glide Pharma's innovative Glide SDI(TM) (Solid Dose Injector) needle-free drug delivery products in Canada. Under the terms of this agreement, Paladin will assume responsibility for local clinical trials, registration, marketing, sales and distribution of at least three of Glide Pharma's pipeline products which include: needle-free versions of sumatriptan, a leading migraine drug; octreotide, a peptide used in the treatment of acromegaly and neuroendocrine tumours; and, fentanyl, a widely-used pain medication used for breakthrough pain. According to IMS Canada, the combined markets for these three products exceeded $50 million in 2006.