Pharmacia and Paladin Enter Into Distribution Agreement for Certain Endocrinology and Women's Health Brands

21-Jan-2002
MONTREAL--Jan. 17, 2002--Pharmacia Canada Inc. and Paladin Labs Inc. have entered into an agreement naming Paladin as the exclusive Canadian distributor of a portfolio of endocrinology and women's health brands. Under this agreement, Paladin will assume responsibility for the sales and marketing of these brands and share revenues equally with Pharmacia, in return for a series of payments to Pharmacia. Further terms of the agreement were not disclosed. The products include the brands Dostinex(R), Estring(R), and Dalacin(R) Vaginal Cream. All products are currently being sold in Canada, with combined sales of approximately $5.0 million in 2001. 'This is a tremendous opportunity for Paladin,' said David MacNaughtan, Vice President, business development of Paladin Labs Inc. 'Dostinex (R) represents an excellent strategic fit for us, given that our national sales force is currently calling on Canadian endocrinologists to promote Androderm(R), the only testosterone patch approved for sale in Canada. In total, the addition of these products gives critical mass to our product offerings in both endocrinology and women's health.' 'By applying our specialty marketing and sales expertise, Paladin will help ensure that physician awareness and understanding of these innovative Pharmacia medicines will be broadened, thereby improving the availability of safe and effective treatment options for all Canadians,' said Jonathan Goodman, President and CEO of Paladin Labs Inc. 'The agreement also allows Pharmacia to focus on its core business and products, maximizing the success of all brands.'

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