Paladin acquiring Labopharm in $20M deal

Paladin Labs has struck a deal to buy Labopharm in a deal that values the biotech at a bit more than $20 million. Paladin is paying 28.5 cents a share, a significant premium over the bargain basement price of 18 cents a share Labopharm had been trading at ahead of the buyout deal. Paladin CEO Jonathan Goodman said the acquisition is "a unique opportunity for us to further strengthen our pain franchise through the addition of an established revenue stream in international markets with the potential upside provided by several product candidates." Report