Labopharm to be acquired by Paladin Labs

Labopharm (NASDAQ:DDSS; TSX:DDS) has accepted a takeover bid from Paladin Labs (TSX:PLB), which will make an offer for all of the common shares of Labopharm at a price of 28.57 cents a share in cash. The purchase price represents a premium of 57.4% over the volume-weighted average price of Labopharm’s shares of 18.15 cents for the 30 trading [...]

D’Souza named CEO of Labopharm

Mark D’Souza has been appointed president, CEO and a director of Labopharm (NASDAQ:DDSS; TSX:DDS), replacing James Howard-Tripp. “We are delighted to have Mark’s knowledge and experience to lead the corporation forward,” chairman Santo Costa said in a statement.  Mr. D’Souza is currently CFO of Labopharm. Labopharm also said that the board in conjunction with management [...]

Health Canada clears Labopharm’s Oleptro

Labopharm (NASDAQ:DDSS; TSX:DDS) has received approval from Health Canada’s Therapeutic Products Directorate for Oleptro, a once-daily formulation of the antidepressant trazodone, for the symptomatic relief of major depressive disorder in adults. “Our plan is to commercialize Oleptro in Canada with a marketing partner and we are advancing discussions towards this end, while at the same [...]

Labopharm monetizes Ryzolt royalty stream

Montreal-based Labopharm (TSX:DDS; NASDAQ:DDSS) has monetized the expected future royalty payment stream for its once-daily tramadol pain drug Ryzolt. Under the accord with U.S. partner Purdue Pharma, Labopharm will receive $5.3 million (U.S.) from Purdue in exchange for discontinuing future royalty payments on U.S. sales of Ryzolt. In addition, Labopharm will be released from future [...]

Labopharm, Paladin expand licensing pacts

Labopharm (TSX:DDS; NASDAQ:DDSS) and Paladin Labs (TSX:PLB) have expanded their commercial relationship through three licensing and distribution agreements for two of Labopharm’s products in certain jurisdictions. In the first accord, Labopharm has granted Paladin the exclusive right, subject to Labopharm’s co-promote right for Canada, to market and sell its Intellitab twice-daily formulation of oxycodone-acetaminophen in [...]

You asked a CEO

Four weeks ago, we asked you what’s on your mind. Specifically, what would you like to “Ask a CEO?”  Frankly, we were heartened and surprised by your response. So as promised, this week’s Feature, which coincides with the first anniversary of biotuesdays.com’s launch, is a rundown of the questions and the answers we received. We [...]

Labopharm amends loan accord with Hercules

Hercules Technology Growth Capital has agreed to extend both the period of interest-only payments and maturity date of a loan to Labopharm (TSX:DDS; NASDAQ:DDSS), which will provide Labopharm with $4.5 million in additional liquidity in 2010 and throughout 2011. Under the amended agreement, Hercules has extended the period for Labopharm to make interest-only payments on the [...]

Labopharm partner loses tramadol patent appeal

The U.S. Court of Appeals for the Federal Circuit has ruled that Purdue Pharma Products’ patent claims for controlled-release tramadol, a pain medication, are invalid.  Purdue distributes Labopharm’s (TSX:DDS; NASDAQ:DDSS) tramadol drug Ryzolt in the U.S. Generic drug maker Par Pharmaceutical (NYSE:PRX) had argued that the patent claims should be deemed invalid because they were [...]

Analysts cut Labopharm price targets on marketing deal

After weighing the pros and cons of Labopharm’s joint venture marketing accord with Italy’s Gruppo Angelini, Dundee Securities and Versant Partners cut their price targets on “buy-rated” Labopharm (TSX: DDS; NASDAQ: DDSS), with Dundee moving the target down to $2.40 from $3 and Versant down to $2.50 from $3. Dundee analyst David Martin cited “increased [...]

Labopharm closes public offering of units

Labopharm (TSX:DDS; NASDAQ:DDSS) has closed a public offering of 11,764,706 units priced at $1.70 (U.S.) a unit for net proceeds of $18.15 million, after deducting underwriting and estimated offering expenses. Each unit consists of one common share and a warrant to purchase 0.5 of a common share.  Each warrant entitles the holder to acquire one [...]

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