UPDATE: Somaxon Pharma Trading Over 15% Pre-Market On Collaboration With Paladin

Somaxon Pharmaceuticals SOMX and Paladin Labstoday announced that they have entered into an exclusive collaboration under which Paladin will commercialize Silenor (doxepin) for the treatment of insomnia characterized by difficulty with sleep maintenance in Canada, South America and Africa. According to IMS Canada, the value of the Canadian insomnia market, mainly comprised of zopiclone, exceeded $79 million in 2010 alone and has been growing at a 5 year CAGR of 10%. Read more here.