Paladin backs away from Afexa

Paladin Labs (TSX:PLB) will not take up any shares of Afexa Life Sciences (TSX:FXA) under its hostile takeover offer when the bid expires on Friday. A condition of Paladin’s latest offer was that Afexa not increase a breakup fee with friendly suitor Valeant Pharmaceuticals International (NYSE, TSX:VRX). Last week, the breakup fee was increased to [...]

Afexa recommends holders take no action on Paladin offer

The board of Afexa Life Sciences (TSX:FXA) is recommending that shareholders take no action on an amended takeover offer from Paladin Labs (TSX:PLB) of either 81 cents a share in cash or 0.0217 of a Paladin share for each common share of Afexa. Afexa said the board’s decision reflects an announcement that Valeant Pharmaceuticals International [...]

Afexa to oppose lifting poison pill

Afexa Life Sciences (TSX:FXA) will oppose an application on Friday by Paladin Labs (TSX:PLB) before the Alberta Securities Commission to cease trade Afexa’s shareholder rights plans. Earlier today, Paladin said it would enhance its unsolicited takeover offer for all and any of the outstanding shares of Afexa if two shareholder rights plans are waived by [...]

Afexa sees benefits in Valeant takeover

After attracting a friendly all-cash takeover offer from Valeant Pharmaceuticals International (NYSE:VRX) to trump a hostile bid, Afexa Life Sciences (TSX:FXA) is enthused about the path forward with Valeant. “Through our discussions with Valeant, it became apparent that they are interested in all parts of our business, not only the Canadian COLD-FX business,” Afexa CEO [...]

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 [...]

Paladin bids $50 million for Afexa Life Sciences

Paladin Labs (TSX:PLB) is making an offer to acquire any and all of the issued shares of Afexa Life Sciences (TSX:FXA) for 55 cents a share cash or a stock swap valued at about $50 million, assuming all shares of Afexa not already owned by Paladin are tendered. On July 15, Paladin said it had [...]

Paladin Labs acquires 5.37 million more Afexa shares

Paladin Labs (TSX:PLB) has raised its interest in Afexa Life Sciences (TSX:FXA) to 15.4 million shares or just under 15%  through market purchases on the Toronto Stock Exchange Friday. The 5,374,500 additional common shares of Afexa were purchased for prices between 36 cents and 55 cents. Paladin said it is considering its options regarding its [...]

Somaxon and Paladin in Silenor collaboration

Somaxon Pharmaceuticals (NASDAQ:SOMX) and Paladin Labs (TSX:PLB) have entered into an exclusive collaboration under which Paladin will commercialize Silenor for the treatment of insomnia characterized by difficulty with sleep maintenance in Canada, South America and Africa. Under the terms of accord, Somaxon will receive an up-front payment of $500,000 and Paladin will purchase 2,184,769 shares [...]

Paladin to buy Tempra line in Canada from BMS

Paladin Labs (TSX:PLB) has entered into an agreement with Bristol Myers Squibb (NYSE:BMY) to acquire the Tempra line of products in Canada, including both syrup and drop formulations. Financial terms of the agreement were not disclosed. According to IMS Canada, the Tempra line of products achieved sales of about $3 million in 2010, representing some [...]

Paladin gets Health Canada approval for DigiFab

Paladin Labs (TSX:PLB) has received approval from Health Canada to market DigiFab for the treatment of patients with life-threatening or potentially life-threatening digoxin toxicity or overdose. Digoxin, which is also known as digitalis, is used to treat congestive heart failure and to slow heart rate in some cardiac disturbances. Paladin acquired the exclusive Canadian rights [...]

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