Oslo, 9 May 2019 - Navamedic ASA (OSE: NAVA) today announced it is expanding
distribution of the angina prevention medicine, Imdur®, to Greece, bringing the
distribution to a total of 14 markets across Europe.
"It is a pleasure to announce that Navamedic is expanding its distribution of
Imdur to Greece from the end of April. Imdur is part of a strategic partnership
with TopRidge Pharma Limited, under which the product has become Navamedic's
largest single brand. Although the generic competition has increased over the
last years, the product is highly important for our customers and for Navamedic.
The Greek market is expected to contribute to annual sales exceeding NOK eight
million," says Kathrine Gamborg Andreassen, Chief Executive Officer of
Navamedic.
Imdur® (isosorbide mononitrate), a prescription pharmaceutical used for
prevention of angina pectoris due to heart disease, was first launched in Europe
in 1985. Navamedic commenced distribution of the product as part of a strategic
partnership and long-term distribution agreement with TopRidge Pharma Limited in
2016.
"Market expansion for existing products is key to Navamedic's growth strategy,
in addition to launching new products in our territories. With the launch of
Imdur in the Greek market, we have extended our marketing and distribution
platform with the capability to add future products in this interesting market,"
Gamborg Andreassen concludes.
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For further information, please contact:
Kathrine Gamborg Andreassen, CEO, Navamedic
Mobile: +47 951 78 860
E-mail: kathrine@navamedic.com
Toril Ås, CFO, Navamedic
Mobile: +47 95 70 10 71
E-mail: toril.as@navamedic.com
Navamedic ASA, established in 2002, provides a state-of-the-art market access
platform for delivering pharmaceutical products to patients, hospitals and
pharmacies in the Nordics. The company is also introducing Sippi®, a new system
for digital urine measurement, to the global markets. Navamedic is headquartered
in Oslo, Norway, and listed on the Oslo Stock Exchange (ticker: NAVA).