Paladin Labs Inc.
TSX : PLB

Paladin Labs Inc.

May 15, 2008 14:02 ET

Paladin Labs Inc.: Plan B® Emergency Contraceptive Now Over the Counter in Canada

MONTREAL, QUEBEC--(Marketwire - May 15, 2008) - Paladin Labs Inc. (TSX:PLB), a leading Canadian specialty pharmaceutical company, today announced that the National Association of Pharmacy Regulatory Authorities (NAPRA) has granted Plan B® full Over-the-Counter status (OTC) (schedule III). Previously, Plan B® had behind the counter status (schedule II).

This means that Canadian women will no longer need to request Plan B® from the pharmacist and will be able to purchase Plan B® just like any other OTC product.

"We are thrilled with NAPRA's decision," says Madeleine Boscoe, nurse with the Women's Health Clinic in Winnipeg. "Due to the nature of emergency contraception, it needs to be taken as soon as possible within a maximum of 72 hours after unprotected intercourse or a contraceptive failure. Better access and use of emergency contraception may significantly reduce the incidence of unintended pregnancy in Canada."

Plan B® is a safe, effective and easy-to-use emergency contraceptive pill that is 95 per cent effective in preventing unintended pregnancy when taken within 24 hours of unprotected sex, but does not have any impact on an already established pregnancy.

"Plan B® meets all the relevant criteria for sale as an OTC product," says Dr. Colleen Metge, Associate Professor of Pharmacy, University of Manitoba, and a former chairperson of the National Drug Scheduling Advisory Committee. "The drug is safe, easy to use, does not require personal instruction or any examination by a doctor, and the active ingredient, levonorgestrel, has a long history of safe and effective use both as an oral contraceptive and emergency contraceptive. It is great news that Plan B® will now be available Over-the-Counter in pharmacies."

Studies have demonstrated that the labelled directions on Plan B® were followed accurately by women without counselling or evaluation by a health professional. And moving Plan B® to Schedule III status will still allow women the option of speaking to a pharmacist if desired.

"This decision is a step forward for women," says Madeline Boscoe. Over-the-counter availability is the best way to guarantee women timely access to emergency contraception."

Many leading Canadian health organizations, including the Society of Obstetricians and Gynecologists of Canada, the Canadian Federation of Medical Women and the Canadian Association for Adolescent Health, are supportive of NAPRA's decision to make Plan B® available over-the-counter in pharmacies as it is a safe and effective emergency method to prevent unintended pregnancy.

About Paladin Labs

Paladin Labs Inc., headquartered in Montreal, Canada, is a specialty pharmaceutical company focused on acquiring or in-licensing innovative pharmaceutical products for the Canadian market. 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.

Plan B® is a registered trademark of Duramed Pharmaceuticals, Inc.

This news 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 subsidiary 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, 2007. The Company disclaims any intention or obligation to update or revise any forward-looking statements whether a result of new information, future events, or 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.

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