Navamedic: Enters into strategic partnership and 8-year distribution agreement with TopRidge Pharma Limited
Oslo, 13. June 2016 - Navamedic ASA (OSE: NAVA), the Norwegian medtech and pharmaceutical products company, has today entered into an 8-year agreement with TopRidge Pharma Limited, a subsidiary of Shanghai-listed Tibet Rhodiola Pharmaceutical Holding Co, for distribution of angina prevention medicine, Imdur®, in European markets. The agreement represents expected annual revenues of NOK 70-100 million. As a part of the strategic partnership, TopRidge Pharma (Ireland) Limited, a wholly owned subsidiary of TopRidge Pharma Limited, will acquire 1,417,522 new shares in Navamedic, and become a