MONTREAL, CANADA--(Marketwired - Jan. 13, 2014) -
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Paladin Labs Inc. (TSX:PLB) ("Paladin") today announced that it has acquired Triton Pharma Inc. ("Triton") with effect from January 1st, 2014. Triton is a privately-held, Canadian specialty pharmaceutical company focused on acquiring and in-licensing specialty innovative products. Paladin expects Triton to contribute sales of approximately $4 million in 2014 from a portfolio of products that span dermatology, women's health and urology. Further details and financial terms of the deal were not disclosed.
"The acquisition of Triton demonstrates our commitment to continue to grow our product portfolio in the Canadian market," said Mark Beaudet, Interim President and Chief Executive Officer of Paladin Labs Inc. "We believe we can be a more efficient operator of the Triton assets and leverage their portfolio of products to greater strategic advantage via our business development activities. In particular, the addition of Triton's dermatology products will give us critical mass in this interesting niche therapeutic category."
About Paladin Labs Inc.
Paladin Labs Inc., headquartered in Montreal, Canada, is a specialty pharmaceutical company focused on acquiring or in-licensing innovative pharmaceutical products for the Canadian and world markets. With this strategy, a focused national sales team and proven marketing expertise, Paladin has evolved into one of Canada's leading specialty pharmaceutical companies. Paladin's shares trade on the Toronto Stock Exchange under the symbol PLB. For more information about Paladin, please visit the Company's web site at www.paladinlabs.com.
Forward Looking Statements Related to Paladin
This press release may contain forward-looking statements and predictions. These forward-looking statements, by their nature, necessarily involve risks and uncertainties that could cause actual results to differ materially from those contemplated by the forward-looking statements. The Company considers the assumptions on which these forward-looking statements are based to be reasonable at the time they were prepared, but cautions that these assumptions regarding the future events, many of which are beyond the control of the Company and its subsidiaries, may ultimately prove to be incorrect. Factors and risks, which could cause actual results to differ materially from current expectations, are discussed in the annual report as well as in the Company's Annual Information Form for the year ended December 31, 2012. The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information or future events and except as required by law. For additional information on risks and uncertainties relating to these forward-looking statements, investors should consult the Company's ongoing quarterly fillings, annual report and Annual Information Form and other fillings found on SEDAR at www.sedar.com.