Paladin eyes Mexico and Brazil for expansion

Pharmaceutical distributor Paladin Labs (TSX:PLB) has set its sights on moving into Mexico and Brazil as it continues its strategy of expanding internationally to complement its growth in Canada. “I would like to be in more geographies, and we’re keenly interested in Mexico and Brazil and looking to do something there,” CEO Jonathan Goodman says [...]

Cormark upgrades Paladin to top pick

Cormark Securities has upgraded Paladin Labs (TSX:PLB) to “top pick” with a new price target of $30 from “buy” and $24.50 on the back of another strong quarter that beat its estimates for revenue, EBITDA and earnings.  The stock closed at $25.45 on Thursday. Analyst David Dean writes that the company’s first quarter performance is [...]

RBC Capital Markets raises Paladin price target

Calling Paladin Labs’ (TSX:PLB) investment in Pharmaplan of South Africa an “attractive entrance into a new market,” RBC Capital Markets raised its 12-month price target on Paladin’s stock to $24 from $23. RBC rates the stock “outperform, above average risk.” Analyst Doug Miehm writes that Paladin paid $15.9 million for its initial 34.99% stake and [...]

Paladin buys stake in South African drug company

In its second swing outside of Canada this month, Paladin Labs (TSX:PLB) has acquired an initial 34.99% interest in Pharmaplan Pty. Ltd. of South Africa and has committed to increase its ownership position over time based on a formula linked to Pharmaplan’s actual financial performance, all payable in cash. Terms of the transaction weren’t disclosed [...]

Paladin in strategic relationship with Dutch specialty pharma

Stepping beyond its Canadian market, Paladin Labs (TSX:PLB) is investing four million Euros through a secured convertible debenture in SpePharm Holding BV, a Dutch specialty pharma company, in a new relationship that “establishes significant future strategic collaboration and value potential for both parties.” Under the accord, Paladin can convert the debenture into an approximate 10% [...]

Paladin in distribution pact with BTG

Paladin Labs (TSX:PLB) has entered into a distribution agreement with Protherics, a unit of BTG PLC, for the exclusive Canadian rights to market and sell DigiFab, which is under Health Canada review to treat life-threatening or potentially life-threatening digoxin toxicity or overdose. “DigiFab provides an important opportunity to grow Paladin’s specialty and orphan franchise, which [...]

Isotechnika amends deal with Paladin Labs

Isotechnika Pharma’s (TSX: ISA) wholly owned subsidiary, Isotechnika Labs, has amended its agreement with Paladin Labs (TSX:PLB) on the remaining stake in the revenue stream from the Isodiagnostika business, which was sold to Paladin in mid-2009. Under the original deal, Isotechnika Labs was entitled to receive a revenue stream equivalent to 88% of the net [...]

Health Canada gives Paladin priority review

Paladin Labs’ (TSX:PLB) new drug submission for sublingual fentanyl has been accepted for priority review by Health Canada, which provides for a 180-day review cycle. “Abstral is an innovative product that will fulfill an unmet need for cancer patients in Canada and will complement our growing promoted pain portfolio, which includes Tridural, Metadol and Pennsaid,” [...]

There’s no let up at Paladin Labs

The fast growing specialty pharma is guiding to revenues of more than $100-million this year, compared with $82.7-million in 2008, CEO Jonathan Goodman, said  in notes for a presentation at BioContact in Quebec City.  He cited strong organic growth from new product launches including, Anacin/Anbesol, Dexedrine and Urocit-K. Paladin, which focuses on acquiring or in-licensing [...]