MONTREAL, QUEBEC--(CCNMatthews - May 2, 2005) - Paladin Labs Inc. (TSX:PLB), a leading Canadian specialty pharmaceutical company, today announced that it has entered into a Canadian marketing and supply agreement with Watson Pharma, Inc., a subsidiary of Watson Pharmaceuticals, Inc. (NYSE:WPI) to market Trelstar(R) 3.75 mg and Trelstar(R) LA 11.25 mg (triptorelin pamoate for injectable suspension). Trelstar(R) 3.75 mg, 1 month slow release, is an injectable, luteinizing hormone-releasing hormone (LHRH) agonist indicated for the palliative treatment of advanced prostate cancer and for the treatment of endometriosis. Trelstar(R) LA 11.25 mg, 3 month slow release, is an injectable, luteinizing hormone-releasing hormone (LHRH) agonist indicated for the palliative treatment of advanced prostate cancer. Trelstar(R) 3.75 mg and Trelstar(R) LA 11.25 mg are approved for sale in Canada.