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news.For treatment of severe hypoglycemia in diabetes patients
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Paladin Labs has received approval from the Biologics and Genetic Therapies Directorate of Health Canada for GlucaGen (recombinant glucagon for injection). GlucaGen is indicated for the treatment of severe hypoglycemia in diabetic patients being treated with insulin. GlucaGen is manufactured by Novo Nordisk.
Jonathan Ross Goodman, president and CEO of Paladin Labs, said: “The approval of GlucaGen marks a milestone in the development of our regulatory capabilities. It represents our first approval from the Biologics and Genetic Therapies Directorate of Health Canada. GlucaGen is a market leading biologic in Europe and we expect GlucaGen will be an important player in the $8.8 million Canadian glucagon market. We look forward to bringing this product to Canadian patients in the first half of 2010.”
Paladin will promote and distribute GlucaGen on behalf of Novo Nordisk Canada, a subsidiary of Novo Nordisk pursuant to a pre-existing supply and distribution agreement between the two companies.