UPDATE 1-Labopharm, Paladin ink distribution deal

* Says 3 deals related to Intellitab product distribution

* Labopharm to receive upto C$7.2 mln in milestone payments

* Paladin to distribute one product in Canada, two in

* Paladin to advance C$10 mln to Labopharm

Oct 14 (BestGrowthStock) – Canadian drugmaker Labopharm (DDS.TO: )
(DDSS.O: ) said it has signed three licensing and distribution
agreements under which Paladin Labs (PLB.TO: ) will distribute
Labopharm products in Canada and some African countries.

The agreements relate to two products based on Labopharm’s
Intellitab platform, which provides a patient with a controlled
release medication while minimizing the risk of intentional
abuse or accidental misuse.

Under the deals, Labopharm will get a transfer price on
product supply based on a percentage of the expected selling
price, the company said in a statement.

Labopharm said it is also eligible to receive up to a
combined total of C$7.2 million among the three agreements,
related to achievement of certain milestones.

The company markets proprietary controlled-release
technologies for existing drugs. Its lead product is Tridural,
a once-daily formulation of pain-killer tramadol.

Paladin, known for its Plan B emergency contraceptive, will
advance Labopharm C$10 million against future supply of
Labopharm’s Tridural for distribution in Canada, the statement

Labopharm shares closed up 10 percent at C$1.07 Wednesday
on the Toronto Stock Exchange after the company said it got a
positive opinion in eight European countries for one of its
Intellitab-based products.
(Reporting by Gowri Jayakumar in Bangalore; Editing by
Aradhana Aravindan)

UPDATE 1-Labopharm, Paladin ink distribution deal