LABOPHARM SIGNS UP U.S. PARTNER FOR TRAMADOL
Labopharm Inc. said on Monday it has secured a U.S. partner to market and distribute its once-daily painkiller Tramadol, which is not yet approved in the United States. The news sent shares of Labopharm up 72 Canadian cents, or 19 percent, to C$4.52 on the Toronto Stock Exchange. The shares touched a year high of C$4.99 on Monday. The Laval, Quebec-based drugmaker said it has granted Purdue Pharma LP, the right to market, sell and distribute the once-daily painkiller in the United States.