MONTREAL, QUEBEC--(CCNMatthews - May 11, 2006) - Paladin Labs Inc. (TSX:PLB), a leading Canadian specialty pharmaceutical company, today reported its 2006 first quarter financial results. First Quarter Highlights:
- Revenues reached $10.1 million, an increase of 58% versus last year
- EBITDA(1) reached $2.9 million, a 52% increase over the same period last year
- Acquired additional Canadian rights to Pennsaid® through a wholly-owned subsidiary, Squire Pharmaceuticals Inc.
- Announced a normal course issuer bid effective February 21, 2006
- Obtained Health Canada approval for VANTAS®, a treatment for advanced prostate cancer
Subsequent to First Quarter
-Chambers of Commerce
- Paladin donated $300,000 in medication to Health Partners International of Canada (HPIC)
