Paladin Labs Inc.

Paladin Labs Inc.

September 06, 2011 08:00 ET

Paladin Labs Inc. Issues Update Regarding Jonathan Ross Goodman

MONTREAL, CANADA--(Marketwire - Sept. 6, 2011) - Paladin Labs Inc. ("Paladin" or the "Company") (TSX:PLB), a leading Canadian specialty pharmaceutical company, today provided an update on Mr. Jonathan Ross Goodman, its President and CEO. Mr. Goodman continues to be hospitalized as a result of a serious head injury which occurred following a cycling accident. As a result, Mr. Goodman will remain absent from the Company for an indeterminate period of time. The Company will provide further updates on Mr. Goodman's condition only when a change in circumstance warrants same.

"The expressions of support and encouragement that we've received for Jonathan are greatly appreciated by his family and everyone at Paladin," said Mr. Mark Beaudet, interim President and CEO of Paladin. "Our organization remains focused on continuing to deliver sales and profit growth from our core businesses while pursuing the range of exciting development opportunities currently on our agenda".

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

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, 2010. 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

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