MONTREAL, CANADA -- (MARKET WIRE) -- February 21, 2007 -- Paladin Labs Inc. (TSX: PLB), a leading Canadian specialty pharmaceutical company, today announced that it has received regulatory approval from the Toronto Stock Exchange (the "TSX") to carry out a normal course issuer bid. Paladin has been authorized to purchase up to 810,000 of its common shares, or approximately 10% of its public float of 8,106,091 common shares, in the twelve-month period following the bid's effective date. As at February 15, 2007, Paladin has 15,011,584 common shares issued and outstanding.
