FOR IMMEDIATE RELEASE
PALADIN RECEIVES TPD APPROVAL FOR NEW TESTOSTERONE PATCH IN CANADA
Montreal, Canada, June 20, 2002 - Paladin Labs Inc. ("Paladin") (PLB: TSX) today announced the Therapeutic Products Directorate (TPD) approval of AndrodermŽ 5mg format for the treatment of male testosterone deficiency also commonly referred to as andropause. Paladin currently markets and sells AndrodermŽ in a 2.5mg format.
"This approval strengthens the competitive position of AndrodermŽ which is the only transdermal testosterone patch available in Canada for the treatment of testosterone deficiency," said Mark Beaudet, Vice-President of Sales and Marketing of Paladin Labs. "Transdermal patches are widely used and are patient-favoured treatments in Canada. The new AndrodermŽ 5mg patch provides physicians and patients with an easy-to-use option to alternative treatments."
It is estimated that testosterone deficiency or andropause afflicts more than one million men in Canada . Testosterone deficiency is characterized by symptoms of fatigue, negative moods, and loss of sex drive. Only five per cent of men suffering from testosterone deficiency are being treated in Canada today.
"Men need to understand that the symptoms of low testosterone are not an irreversible element of the aging process. Testosterone deficiency is a medical condition that can be treated successfully," said Dr. Alvaro Morales, Professor of Urology at Queen's University.
In clinical trials, AndrodermŽ has demonstrated improvements in mood and libido and has restored testosterone to normal physiological levels in 92% of patients.
THE ANDRODERMŽ ADVANTAGE
AndrodermŽ is a once-daily transdermal patch that provides continuous delivery of testosterone for 24 hours following application. AndrodermŽ provides significant advantages compared to other therapies currently available due to its unique delivery system.For example, AndrodermŽ quickly restores testosterone levels to normal in contrast to the more variable response obtained with pills or unpleasant injections that require regular physician visits. AndrodermŽ also provides men with an easy-to-use treatment that is applied once-a-day.
For more information about Androderm in Canada, physicians and patients can call 1-888-376-7830.
About Paladin Labs Inc.
Paladin Labs, headquartered in Montreal, Quebec, is a rapidly growing pharmaceutical company focused on acquiring or in-licensing innovative pharmaceutical products for the Canadian market. With this strategy, a focused national sales team and proven marketing expertise, Paladin has evolved into one of Canada's most profitable publicly traded pharmaceutical companies. Paladin's shares trade on the Toronto Stock Exchange under the symbol PLB. For more information about Paladin Labs, please visit the Paladin Web Site at www.paladinlabs.comThis news release may contain forward-looking statements or predictions. These statements represent our judgment as of this date and are subject to risks and uncertainties that could cause actual results or events to differ materially from those expressed in such forward-looking statements. Potential risks and uncertainties include, without limitation, those associated with product development, clinical trials, future revenues and profitability, and obtaining marketing approval.
For further information please contact:Paladin Labs Inc.
Mark Beaudet, Vice-President of Sales and Marketing
Tel: 514 340 5032
e-mail: mbeaudet@paladin-labs.com
Web Site: www.paladinlabs.comThe Equicom Group Inc.
Joanna Longo
Investor Relations
Tel: 416-815-0700 ext.233
e-mail: jlongo@equicomgroup.com1 Harman et. Al., Longitudinal Effects of Aging on Serum Total and Free Testosterone Levels in Healthy Men, Journal of Clinical Endocrinology & Metabolism, 2001: 86(2): 724-31, and 1991 Statistics Canada data.