March 21 Paladin Labs Inc said the
Canadian health regulator approved its oral drug to treat
seasonal grass allergies.
The Canadian specialty pharmaceutical company expects to
launch the drug, Oralair, in 2013.
Paladin, which bowed out of bidding for Afexa -- maker of
Canada's No. 1 selling cold and flu medicine Cold-FX -- said
about 20 percent to 25 percent of adults in Canada have
respiratory allergies and half of those would be grass pollen
Oralair, which can be taken at home, has been marketed in
Europe since 2008.
Paladin obtained the Canadian development and marketing
rights for Oralair from Stallergenes SA in January
Paladin shares closed at C$39.50 on Tuesday on the Toronto