MONTREAL, CANADA -- (Marketwired) -- 08/19/13 -- Paladin Labs Inc. (TSX: PLB), a leading Canadian specialty pharmaceutical company, announced today the launch of Emtrix®, a unique over-the-counter treatment specifically indicated for the treatment of nail fungal infections (onychomycosis).
Emtrix is an effective topical treatment that demonstrates results quickly and is easy to use with only once-daily application. While the full treatment period with Emtrix is 3 to 6 months, studies show that the majority of patients see a visible improvement in their nail appearance after treating with Emtrix for 2-4 weeks(1). Emtrix is a convenient option for the treatment of onychomycosis as it does not require a prescription, is not associated with significant side effects, and, is not contraindicated with any other medications.
It is estimated that there are over 2 million individuals with nail fungal infections in Canada(2). The majority of Canadians with nail fungus leave the condition untreated for a variety of reasons, including, the high cost, length of treatment and potential side effects of prescription products.
"We are pleased to announce the launch of Emtrix in Canada," said Mark Beaudet, interim President and Chief Executive Officer of Paladin Labs Inc. "Providing an innovative over-the-counter treatment to nail fungal infections will help consumers achieve rapid and effective treatment for a very common condition that often goes untreated."
Paladin obtained the exclusive rights to market and sell Emtrix in Canada from Moberg Pharma AB in December 2012.
Emtrix is a topical treatment used to treat nail disease. Launched in the Nordic region in late 2010, it quickly became the market leader with market share over 60% in Sweden, the first year after launch.(3) Emtrix is an OTC product sold under the name Nalox in certain markets and under the name Kerasal® Nail in the U.S. Safety and efficacy has been demonstrated in several clinical studies including more than 600 patients. Emtrix has a unique and rapid mechanism of action which may bring visible improvements within as early as 2-4 weeks of treatment. Nail fungus is the most common nail disease and Canadian studies indicate a prevalence of approximately 6.5% of the general Canadian population.(1) It is generally recognized that there is a need for new efficacious and safe topical treatments.
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 and world markets. With this strategy, a focused national sales team and proven marketing expertise, Paladin has evolved into one of Canada's leading specialty pharmaceutical companies. Paladin's shares trade on the Toronto Stock Exchange under the symbol PLB. For more information, please visit the Company's web site at www.paladinlabs.com.
(1) Faergemann J, Gullstrand S, Rensfeldt K. Early and Visible Improvements after Application of K101 in the Appearance of Nails Discoloured and Deformed by Onychomycosis. Journal of Cosmetics, Dermatological Sciences and Applications. 2011;1:59-63.(2) Gupta AK, Jain HC, Lynde CW, MacDonald P, Cooper EA, Summerbell RC. Prevalence and epidemiology of onychomycosis in patients visiting physicians' offices: a multicenter Canadian survey of 15,000 patients. J Am Acad Dermatol. 2000;43:244-248.(3) Nielsen Scantrack, Nail fungus products, Self-care, Sweden w01-w32, 2011.
Forward Looking Statements Related to Paladin
This press release may contain forward-looking statements and predictions. 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 Company considers the assumptions on which these forward-looking statements are based to be reasonable at the time they were prepared, but cautions that these assumptions regarding the future events, many of which are beyond the control of the Company and its 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 report as well as in the Company's Annual Information Form for the year ended December 31, 2012. The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information or future events and except as required by law. For additional information on risks and uncertainties relating to these forward-looking statements, investors should consult the Company's ongoing quarterly fillings, annual report and Annual Information Form and other fillings found on SEDAR at www.sedar.com.
Samira Sakhia, MBA, CPA, CA
Chief Financial Officer
Paladin Labs Inc.