Paladin Labs Inc. Reports Record Revenues For Third Quarter & Increases Revenue Guidance

MONTREAL, QUEBEC -- (MARKET WIRE) -- November 02, 2006 -- Paladin Labs Inc. (TSX: PLB), a leading Canadian specialty pharmaceutical company, today reported its unaudited financial results for the three and nine-month periods ended September 30, 2006. The Company achieved record revenues for the third quarter and first nine months of 2006 and is well positioned to achieve its 11th consecutive year of record revenues in 2006.

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