Healthcare Industry News: KV Pharmaceutical
News Release - February 18, 2008
Paladin Labs & KV Pharmaceuticals Sign Distribution For Micro-K(R) Extencaps(R) Capsules
MONTREAL, QUEBEC--(Healthcare Sales & Marketing Network)--Feb 18, 2008 -- Paladin Labs Inc. (Toronto:PLB.TO ), a leading Canadian specialty pharmaceutical company, today announced that it has entered into an exclusive Canadian Distribution Agreement with the KV Pharmaceutical Company (NYSE:KV-A ) for Micro-K® Extencaps® Capsules.Micro-K® Extencaps® Capsules are oral dosage forms of microencapsulated potassium chloride containing 600mg of potassium chloride, USP, equivalent to 8 mEq of potassium. Each crystal of potassium is microencapsulated by a patented process with an insoluble polymeric coating which functions as a semi-permeable membrane; it allows for the controlled release of potassium and chloride ions over an eight-to ten-hour period. Micro-K is indicated for the prevention of potassium depletion when the dietary intake of potassium is inadequate for this purpose. It is also indicated for the treatment of potassium depletion in patients with hypokalemia and metabolic alkalosis, and in the treatment of chronic digitalis intoxication. According to IMS Canada, in 2007, Canadian sales of Micro-K amounted to approximately $2.2 million, up 6% versus 2006.
"We are thrilled to add the KV Pharmaceutical Company as a new partner to Paladin. Micro-K competes in a $16 million market in Canada and has a loyal patient base. We are pleased to continue to make Micro-K available to Canadian patients," said Jonathan Ross Goodman, President and CEO of Paladin Labs.
About Paladin Labs Inc.
Paladin Labs Inc., headquartered in Montreal, Canada, is a specialty 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 leading specialty pharmaceutical companies. For more information, please visit the Company's web site at www.paladinlabs.com.
About KV
KV Pharmaceutical Company is a fully integrated specialty pharmaceutical company that develops, manufactures, markets and acquires technology-distinguished branded and generic/non-branded prescription pharmaceutical products. The Company markets its technology-distinguished products through ETHEX Corporation, a national leader in pharmaceuticals that compete with branded products, and Ther-Rx Corporation, its emerging branded prescription pharmaceutical subsidiary. For further information about KV Pharmaceutical Company, please visit the Company's corporate website at www.kvpharmaceutical.com.
These forward-looking statements, by their nature, necessarily involve risks and uncertainties that could cause actual results to differ materially from those contemplated by the forward-looking statements. The Companies consider the assumptions on which these forward-looking statements are based to be reasonable at the time they were prepared, but caution that these assumptions regarding the future events, many of which are beyond the control of the Companies and their subsidiaries, may ultimately prove to be incorrect. Factors and risks, which could cause actual results to differ materially from current expectations, are discussed in the annual reports, as well as in the Companies' Annual Information Forms for the year ended December 31, 2006. The Companies disclaim any intention or obligation to update or revise any forward-looking statements whether a result of new information, future events, or except as required by law. For additional information on risks and uncertainties relating to these forward-looking statements, investors should consult the Companies' ongoing quarterly filings, annual reports and Annual Information Forms and other filings found on SEDAR at www.sedar.com.
Source: Paladin Labs
Issuer of this News Release is solely responsible for its
content.
Please address inquiries directly to the issuing company.
