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THE GREAT CANADIAN MALE

JONATHAN GOODMAN – The Money Maker

Text: JAMES MARTIN

Intro | SEP 03

Forget the economic repercussions of the other "softwood lumber dispute" – erectile dysfunction is a $57-million-a-year business in Canada. "To put that into visual terms," quips Jonathan Goodman, the 36-year-old president and CEO of Montreal’s Paladin Labs Inc., "that’s over 5 million erections every year." Paladin is out to grab a piece of that action, thanks to a little something called Androderm.

The only testosterone skin patch available in Canada, Androderm replaces the hormone that men steadily lose after age 20. Some doctors believe testosterone loss results in middle-age "andropause," with symptoms like low energy, depression, hot flashes and, yes, reduced libido and erectile dysfunction.

A dry-witted guy with a weakness for elaborate practical jokes (he once stole a co-worker’s underwear, then returned the wayward tighty-whities via internal mail), Goodman is well aware his product is raising more than a few… eyebrows. But this is a man who loves his job. Goodman’s father runs a generic-pharmaceutical empire, and his mother is a fundraising powerhouse in Montreal’s Jewish community. In some ways he sees his work as the best of both pursuits. "We’re making a difference in the lives of many people," says Goodman, "and we’re making money at it."

Goodman says that unlike Androderm’s main competition, his product gets to the, uh, root of erectile dysfunction by increasing the male sex hormone. "Viagra won’t work if you don’t have a libido. If you don’t want to have sex, there won’t be any arousal."

Investors are certainly aroused. Seven-year-old Paladin Labs is already among the country’s 400 most profitable companies, with annual revenues of $23-million. (The company’s other products include Plan B, an emergency contraceptive pill.)

Sex aside, there’s another reason why Goodman could become a god to middle-aged men (if not their wives). He cites studies suggesting a most intriguing side effect: By improving concentration and building lean muscle, Androderm may actually boost a man’s golf game. "Who needs a Big Bertha when you can slap a patch on?" he asks.

The bedroom and the back nine? Jonathan Goodman, the men of the world salute you! [ ]

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