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Labopharm enters into licensing and distribution agreement for once-daily tramadol in Australia with iNova
Date:1/24/2008

LAVAL, QC, Jan. 24 /PRNewswire-FirstCall/ - Labopharm Inc. (TSX: DDS, NASDAQ: DDSS) today announced that it has entered into a licensing and distribution agreement with iNova Pharmaceuticals (Australia) Pty Limited for its once-daily tramadol product for Australia.

"Building on the launch of our once-daily tramadol product across Europe and in Canada, we continue to add strong distribution partners as we prepare for additional product launches in key markets globally throughout this year," said James R. Howard-Tripp, President and Chief Executive Officer, Labopharm Inc. "Australia represents a sizable opportunity and is an important component of the global commercialization plan for our product."

Under terms of the agreement, iNova will have the exclusive right to market and sell Labopharm's once-daily tramadol product in Australia. Labopharm will supply iNova with finished packaged product and will receive revenue from product sales commensurate with those of previous licensing and distribution agreements that Labopharm has entered into for European markets. Labopharm will also receive payments upon the achievement of certain milestones.

Labopharm is awaiting regulatory and pricing approval of its once-daily tramadol formulation in Australia, which is expected in the first half of 2008, with launch to occur thereafter.

About iNova Pharmaceuticals (Australia) Pty Limited

iNova Pharmaceuticals (Australia) Pty Limited develops and markets a range of over-the-counter and prescription medicines to Australasia, Asia-Pacific, South Africa and other international markets directly and also through other pharmaceutical companies and agents. The company works in partnership with sales and marketing partners and pharmaceutical companies in other countries to make their medicines available to the broader international community. iNova was borne out of more than 50 years heritage from Riker Laboratories and 3M Pharmaceuticals following t
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SOURCE Labopharm Inc.
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