Paladin Labs has entered into a licensing and distribution agreement with Elan Corp. under which Paladin has exclusive Canadian rights to market and sell (upon regulatory approval) Elan’s controlled release hydrocodone product for the treatment of moderate to severe pain. Elan will receive an undisclosed upfront payment for the product, milestones and manufacturing fees and royalties based on sales. Currently, there is no single-entity, controlled-release formulation of hydrocodone in Canada....