Canadian drugmakers Labopharm and Paladin expand commercial relationship

Labopharm (TSX: DDS) and fellow Canada-headquartered Paladin Labs (TSX: PLB) have expanded their commercial relationship through three licensing and distribution agreements under which Paladin will distribute two of Labopharm's products in certain jurisdictions.

"Paladin has played a key role in the success of Tridural, our once-daily tramadol product in Canada, and we are pleased to expand our commercial relationship with licensing and distribution agreements for two additional products, including the first such agreement for a product based on our Intellitab technology platform for the development of misuse-deterrent and tamper-resistant formulations of existing medications," said James Howard-Tripp, president and chief executive of Labopharm.

"The commercial success of Tridural, which holds the number one market position in the extended release tramadol market in Canada, has elevated the strategic importance of pain as a therapeutic focus area for Paladin," said Jonathan Ross Goodman, president and CEO of Paladin Labs, noting that the “agreement marks the first multi-territorial license agreement since our Pharmaplan investment in South Africa. This is significant because it signals our ability to leverage Paladin's existing commercial relationships to the benefit of our South African operation."