Navamedic ASA : Navamedic ASA further expands product portfolio.

14 May 2012
   

Navamedic further expands product portfolio

Navamedic's wholly owned subsidiary Vitaflo Scandinavia has signed a distribution agreement for the diagnostic product Amnisure. During the last four months Vitaflo's product portfolio has been expanded by nine new products, to a total of around 60 patented drugs and healthcare products.

"Navamedic is conuosly working to expand our product portfolio. The new products included in our portfolio so far in 2012 represent additional annual sales of more than NOK 8 million. We have not paid any fee for the product rights and the portfolio expansion supports a continuation of the significant organic sales growth recently seen in our Vitaflo business area," said Navamedic CEO Olof Milveden.

Amnisure is a test aimed at identifying ruptures in the fetal membrane of pregnant women, a condition which can have serious consequences for the mother and her child. The Amnisure test is recommended by the European Association of Perinatal Medicine. The product is manufactured by Amnisure International of the United States. According to the agreement, Vitaflo has taken over the distribution and is now sole supplier of Amnisure in the Scandinavian markets.

Navamedic's subsidiary Vitaflo is a Nordic distributor of approximately 60 patented drugs and health care products from more than 20 manufacturers. The company saw a 29 per cent sales growth in 2011 followed by a 22 per cent sales growth in the first quarter 2012.

For further information, please call Olof Milveden, CEO, telephone +46 733 463 736.

Navamedic ASA is a Norwegian pharmaceutical products company. Through its subsidiary Vitaflo Scandinavia the Company is a distributor of a broad range of nutrition and pharmaceutical products in the Nordic markets. Navamedic is currently building up a generic pharmaceutical business for the Nordic, Dutch and Belgian markets based on its partnership with Aspen Healthcare of South Africa. Navamedic is listed on the Oslo Stock Exchange (ticker: NAVA).