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news.Paladin Labs, a Canadian specialty pharmaceutical company, has signed a licensing and distribution agreement with Australia-based Immuron to market and sell Travelan in Canada, Latin America (including Brazil and Mexico) and Sub-Saharan Africa (including South Africa).
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Travelan, an over the counter (OTC) product, is used for the prevention of Travellers Diarrhea, by reducing the risk of infection by ETEC, the most common cause of the disorder.
As per the deal, Paladin will pay CAD $500,000 ($484,335.52) upfront and provide a series of potential sales performance milestone payments that can total up to CAD $115m ($111.40).
Paladin interim president and CEO Mark Beaudet said the deal reflects their ability in developing the company’s OTC and international business.
"Travelan will complement our Kaopectate brand in Canada and will add further critical mass to our OTC portfolio that includes well known consumer brands like Plan B, Tempra, Anbesol and Zincofax," Beaudet added.