Navamedic expands Nordic cooperation with Aspen
Navamedic ASA (OSE: NAVA), the Norwegian medtech and pharmaceutical products company, today announced that the Company is expanding its portfolio of products from pharmaceutical manufacturer Aspen. Four new products added to the portfolio from 1 January 2016 are expected to represent annual sales of approximately NOK 30 million.
The four products added are Eltroxin, used in treatment of hypothyroidism, Lanoxin, used to treat certain heart conditions, Imuran, used in connection with organ transplants and Zyloric, used to prevent undesired uric acid formation.
South African based Aspen is a supplier of branded and generic pharmaceuticals in more than 150 countries across the world. Navamedic has distributed Aspen products in the Nordic and Benelux markets since 2010, and the company is currently Navamedic's largest supplier. As previously announced, Aspen will from 1 January 2016 assume direct responsibility for the distribution of their products in the Benelux markets.
The expansion of the agreement with Aspen is in line with Navamedic's ambition to grow sales and increase margins in the company's Nordic Partnership Business (distribution and license contracts for pharmaceuticals and other healthcare products).
The Company's Medtech business addresses a broader international market, with its new Sippi digital urine measurement system for use in hospitals. Sippi was launched in the third quarter 2015.
For further information, please contact CEO Tom Rönnlund, telephone +46 727 320 321 or CFO Bjørn Lindholt, telephone +47 9300 6601.
About Navamedic ASA
Navamedic ASA is a Norwegian medtech and pharmaceutical products company, delivering products to patients, hospitals and pharmacies in the Nordic and Benelux markets. The Group has recently established a Medtech business unit which is currently introducing the next generation digital urine meter for use in intensive care, Sippi ®. Navamedic's Pharma and Healthcare business is a distributor of products supplied by a number of pharmaceutical manufacturers. Navamedic is listed on the Oslo Stock Exchange (ticker: NAVA).