Labopharm Announces Amendment to Debt Facility Agreement with Hercules
- More Favourable Payment Terms Provide Additional Financial Flexibility as Company Prepares to Launch OLEPTRO(TM) in the U.S. This Quarter -
Under the amended agreement, Hercules has extended the period during which Labopharm will make interest-only payments on the loan to
The amendment provides Labopharm with additional cash resources and financial flexibility during the initial commercialization phase for OLEPTRO(TM), the Company’s novel once-daily formulation of the antidepressant trazodone, which will be launched by its joint venture with Gruppo Angelini, Angelini Labopharm, in the U.S. this quarter as planned. The OLEPTRO(TM) commercialization program is in place, including hiring of the sales force, manufacturing of initial quantities of product, and initiation of shipments to wholesalers.
About Labopharm Inc.
This press release contains forward-looking statements, including statements concerning the timely launch of OLEPTRO(TM) in
OLEPTRO(TM) is a trademark of Labopharm Inc.
SOURCE Labopharm Inc.