Paladin Labs Completes Acquisition of Labopharm

Paladin Labs Inc. , a leading Canadian specialty pharmaceutical company, today announced that it has completed its previously announced acquisition of all of the outstanding common shares of Labopharm Inc. For full details of this transaction, refer to the August 17, 2011 press release."The acquisition of Labopharm will add to our top line, through the addition of established international revenue streams, and will provide us the opportunity to build upon our existing operational capabilities. Moreover, Labopharm's worldwide partnerships provide us with an exciting opportunity to continue cultivating important relationships internationally," stated Mark Beaudet, interim President & CEO of Paladin Labs Inc.

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