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FIRST QUARTER RESULTS 2007

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(Lysaker, Norway, 25 April, 2007). Navamedic ASA reported an ordinary profit before taxes of NOK -3.3 million in the first quarter 2007, compared with NOK -3.4 million in the first quarter 2006. During the quarter, Navamedic has entered into marketing and distribution agreements in Germany, United Kingdom, Austria and Mexico. Navamedic will receive NOK 11 million in up-front payments from the agreements in Germany and United Kingdom. During the quarter, Glucomed was launched in Denmark.



About Navamedic ASA:
Navamedic is a Norwegian speciality pharmaceutical company focusing on the development and production of glucosamine HCl (hydrochloride) based medicines. Glucosamine is a generic active ingredient which relieves pain and improves function in patients with mild to moderate osteoarthritis. The product has a favourable safety profile. Osteoarthritis is a chronic disease which affects a large and growing share of the world`s population. Navamedic aims to become a leading company in the glucosamine industry, with a competitive advantage in proprietary production technology. Navamedic`s product Glucomed/Flexove has been approved across 25 EU/EEA states by European Medicines Agency (EMEA), as the first and only glucosamine based medicine against osteoarthritis. The company`s products are sold through a network of sales, marketing and distribution partners.


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