Paladin Labs Acquires Dermatology Products from Baker Norton

Paladin Labs Inc. (Montreal) has acquired the exclusive Canadian license to a line of established dermatology products from Baker Norton Pharmaceuticals Inc. (Miami), a subsidiary of IVAX Corp. The products include X-SEB, P&S, Ultra Mide, and Acquaderm lotions and shampoos, with estimated sales in Canada of approximately $400,000. Baker Norton is betting that these products, which are currently not promoted in Canada, can sell a lot better behind Paladin's marketing clout.

Rafick Henein, senior VP at IVAX, stated "Our dermatology products have a strong pedigree within the Canadian dermatology community and will respond nicely to promotion. We anticipate that Paladin will be able to leverage their existing relationships with Canadian dermatologists to expand the market for our products."

Jonathan Goodman, president of Paladin, added, "These products will contribute nicely to our growing portfolio of specialty dermatology products. We look forward to expanding our relationships with U.S. pharmaceutical companies in order to unlock value in their non-promoted product portfolios."

Paladin Labs develops, markets, and distributes pharmaceuticals in urology, dermatology, rheumatology, and other specialty markets.

For more information: Lennie Ryer, CFO, Paladin Labs Inc., 6111 Royalmount Ave., Suite 102, Montreal, PQ, H4P 2T4, Canada. Tel: 514-340-5067. Fax: 514-344-4675.

Edited by Angelo DePalma