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MONTREAL, CANADA--(Marketwire - April 18, 2011) -Paladin Labs Inc. (TSX:PLB), a leading Canadian specialty pharmaceutical company, announced today the Canadian launch of SEASONIQUE™, a new approach in birth control pills for the prevention of pregnancy designed to provide only 4 menstrual periods per year.

SEASONIQUE™ is designed to reduce the number of periods a women experiences from 13 to 4 per year and is the first 91-day combination oral contraceptive regimen approved in Canada which is placebo free. This represents a new approach to the extended-cycle oral contraceptive category which began with the launch of SEASONALE^® in 2008.

SEASONIQUE™ is a 91-day regimen, taken daily as 84 days of combination 0.15mg levonorgestrel/ 0.03mg ethinyl estradiol followed by 7 days of ultra low dose (0.01mg) unopposed ethinyl estradiol, during which time a woman would have her period.

SEASONIQUE™ has been available to women in the U.S. since its approval in 2006 and is indicated for anyone who can safely and effectively take oral contraceptives. SEASONIQUE™ may appeal most to women with busy, active lives who would prefer not to deal with the inconvenience of a monthly period.

"Many Canadian women have already chosen the option of extending their cycle with SEASONALE^® and we are very excited to now be able to offer this new regimen to Canadian women with SEASONIQUE™" said Jonathan Ross Goodman, President and Chief Executive Officer of Paladin Labs Inc. "We believe that this next-generation oral contraceptive option will be the preferred choice of many Canadian women who need contraception and are interested in the lifestyle benefits of fewer periods per year".

SEASONIQUE™ will be available nationally in pharmacies beginning today. SEASONIQUE™ is manufactured by Teva Pharmaceutical Industries Ltd. (NASDAQ:TEVA). Paladin licensed the Canadian rights to SEASONIQUE™ in 2005 from Teva.

SEASONALE^® and SEASONIQUE™ are trademarks of Barr Laboratories, Inc.

About Paladin Labs Inc.

Paladin Labs Inc., headquartered in Montreal, Canada, is a specialty pharmaceutical company focused on acquiring or in-licensing innovative pharmaceutical products for the Canadian market. With this strategy, a focused national sales team and proven marketing expertise, Paladin has evolved into one of Canada's leading specialty pharmaceutical companies. Paladin's shares trade on the Toronto Stock Exchange under the symbol PLB. For more information about Paladin, please visit the Company's web site at [ www.paladinlabs.com ].

This press release may contain forward-looking statements and predictions. These forward-looking statements, by their nature, necessarily involve risks and uncertainties that could cause actual results to differ materially from those contemplated by the forward-looking statements. The Company considers the assumptions on which these forward-looking statements are based to be reasonable at the time they were prepared, but cautions that these assumptions regarding the future events, many of which are beyond the control of the Company and its subsidiary, may ultimately prove to be incorrect. Factors and risks, which could cause actual results to differ materially from current expectations, are discussed in the annual report as well as in the Company's Annual Information Form for the year ended December 31, 2010. The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information or future events and except as required by law. For additional information on risks and uncertainties relating to these forward-looking statements, investors should consult the Company's ongoing quarterly fillings, annual report and Annual Information Form and other fillings found on SEDAR at [ www.sedar.com ].