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Paladin expands African roots with Litha partnership

 
• By Mike Ward

Paladin Labs, the Canadian speciality pharmaceutical company, is expanding its reach into the sub-Saharan pharmaceuticals market by acquiring all the Pharmaplan shares it does not already hold and then merging the business with the pharma assets of Litha Healthcare, to become its largest shareholder with a 44.5% stake. The series of transactions will cost Paladin some Can$52 million.

Paladin Labs, the Canadian speciality pharmaceutical company, is expanding its reach into the sub-Saharan pharmaceuticals market by acquiring all the Pharmaplan shares it does not already hold and then merging the business with the pharma assets of Litha Healthcare, to become its largest shareholder with a 44.5% stake. The series of transactions will cost Paladin some Can$52 million.

Dr Mark Beaudet, Paladin's interim president and CEO, told investors and analysts on a conference call, convened to discuss the announcement, that the strategic partnership with Litha will create a stronger and more diversified commercial

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