MONTREAL, CANADA--(Marketwire - January 27, 2011) - Paladin Labs Inc. (TSX: PLB), a leading Canadian specialty pharmaceutical company, announced today that Health Canada has approved DigiFab™. DigiFab™ is indicated for the treatment of patients with life-threatening or potentially life-threatening digoxin toxicity or overdose.
Digoxin (also known as digitalis) is a drug used to treat congestive heart failure and to slow heart rate in some cardiac disturbances, with 16 million digoxin prescriptions written annually in the US. It has a narrow therapeutic window, making it easy to move from therapeutic levels to toxic levels as a result of excessive dosing, slow elimination or interaction with other drugs. Digoxin toxicity can cause potentially life-threatening heart rhythm disturbances.
“DigiFab™ provides an important opportunity to grow Paladin’s specialty and orphan franchise which includes Replagal®, Elaprase® and Antizol®,” said Jonathan Ross Goodman, President and Chief Executive Officer of Paladin Labs Inc. “Following approval, DigiFab™ will provide patients and physicians with a new option for the treatment digoxin poisoning.”
Paladin acquired the exclusive Canadian rights to market and sell DigiFab™ from Protherics Inc., a wholly owned subsidiary of BTG plc (LSE: BGC), in February 2010.
About Paladin Labs
Paladin Labs Inc., headquartered in Montreal, Canada, is a specialty pharmaceutical company focused on acquiring or in-licensing innovative pharmaceutical products. With this strategy, a focused national sales team and proven marketing expertise, Paladin has evolved into one of Canada’s leading specialty pharmaceutical companies. For more information, please visit the Company’s web site at www.paladinlabs.com
This news release contains 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 caution that these assumptions regarding the future events, many of which are beyond the control of the Company and their subsidiaries, 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 reports, as well as in the Company’s Annual Information Forms for the year ended December 31, 2009. The Company disclaims any intention or obligation to update or revise any forward-looking statements whether a result of new information, future events, or 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 filings, annual reports and Annual Information Forms and other filings found on SEDAR at www.sedar.com.
Contacts:
Paladin Labs Inc.
Samira Sakhia, Chief Financial Officer
514-669-5367
514-344-4675 (FAX)
info@paladinlabs.com
www.paladinlabs.com
