Paladin acquires Pennsaid in Dimethaid Research deal

Paladin Labs has acquired Dimethaid Health Care, which owns the Canadian license for Pennsaid, a lotion approved by Health Canada for the treatment of symptoms of knee osteoarthritis. "Pennsaid offers a valuable treatment option to those suffering from osteoarthritis," said Jonathan Ross Goodman, president and CEO of Paladin Labs. "This is evidenced by the fact that for the first 6 months of 2005, Pennsaid sales increased by 40% versus last year. We expect that Pennsaid will be an $8-9 million brand in Canada by the end of 2005."

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