Takeda Canada and Paladin will co-promote the allergy vaccine product indicated for the treatment of allergic rhinitis due to ragweed pollen for the first eight months prior to initiating selling and distribution activities.
Paladin Labs interim president and CEO Mark Beaudet said, "Pollinex-R is a convenient and effective treatment for the symptoms of ragweed allergy and will expand the range of treatments that Paladin offers to allergy sufferers and health care providers."
The company also has an option to attain distribution rights to Pollinex-R in Sub-Saharan Africa.
Financial terms of the transaction were not revealed.