MISSISSAUGA, ON, June 3 /PRNewswire-FirstCall/ - Nuvo Research Inc. , a Canadian drug development company focused on the research and development of drug products delivered to and through the skin using its topical and transdermal drug delivery technologies, and Paladin Labs Inc. , a leading Canadian specialty pharmaceutical company, today announced that Health Canada has approved a new dosing regimen for Pennsaid(R) (topical diclofenac). Paladin sells and markets Pennsaid in Canada, having acquired exclusive Canadian Pennsaid rights from Nuvo in August 2005.
The new dosing regimen of Pennsaid(R) will be 50 drops per knee, 3 times a day, as an alternative to the existing approved dosing regimen of 40 drops per knee, 4 times a day. Pennsaid(R) is now the only topical NSAID approved in Canada with this new improved dosing regimen. Pennsaid had Canadian sales of $10.6 million last year and has been sold in Canada since May 2003.
“Pennsaid(R) is a proven effective treatment for Osteoarthritis of the knee,” said Dr. Philip Baer, a Rheumatologist practicing in Ontario. “The newly approved dosing regimen of 50 drops TID (three-times-per-day) will make it easier for patients to use Pennsaid(R) to manage their pain, as compared to applying 40 drops QID (four-times-per-day). TID dosing can improve patient compliance, which is one of the most important factors in ensuring effective pain relief.”
“The new improved dosing regimen of Pennsaid(R) is a significant clinical advantage,” said Henrich Guntermann, Nuvo’s President and CEO. “We are eager to replicate Pennsaid’s Canadian success in the U.S. market and continue to work diligently on obtaining U.S. FDA approval.”
About Paladin Labs Inc.
Paladin Labs Inc., headquartered in Montreal, Canada, is a leading specialty pharmaceutical company focused on developing, 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 Paladin web site at www.paladinlabs.com.
About Nuvo Research Inc.
Nuvo is focused on the research and development of drug products delivered to and through the skin using its topical and transdermal drug delivery technologies. Nuvo’s lead product is Pennsaid(R), a topical non-steroidal anti-inflammatory (NSAID) used for the treatment of osteoarthritis. Nuvo intends to leverage its skin-penetrating technologies to create a portfolio of topical and transdermal products targeting a variety of indications.
Nuvo Research Inc. is a publicly traded, Canadian pharmaceutical company headquartered in Mississauga, Ontario, with manufacturing facilities in Varennes, Quebec and Wanzleben, Germany and a research and development Center in San Diego California. For more information, please visit www.nuvoresearch.com.
This release may contain forward-looking statements, subject to risks and uncertainties beyond management’s control. Actual results could differ materially from those expressed here. Risk factors are discussed in the Companies’ annual information forms filed with the securities commissions in each of the provinces of Canada. The Companies referred to herein undertake no obligation to revise forward-looking statements in light of future events.
CONTACT: about Paladin, please contact: Samira Sakhia, Chief Financial
Officer, Paladin Labs Inc., Tel: (514) 340-5067, email:
info@paladin-labs.com; For more information about Nuvo, please contact:
Investor Relations, Christina Bessant, Equicom Group Inc., Tel: (416)
815-0700 x269, email: cbessant@equicomgroup.com
