Navamedic further improves availability of products

Navamedic ASA (OSE: NAVA), the Norwegian pharmaceutical products company, today announced that the Company has entered into a cooperation with Torrent Pharmaceuticals Limited of India. The agreement provides Navamedic with access to a broad range of generic drugs.

Navamedic has been developing a portfolio of generic drugs for the Nordic and Benelux markets since the Company established its first cooperation with a generics manufacturer in 2010, Aspen of South Africa.

In parallel with establishing the cooperation with Torrent, Navamedic's agreement with Aspen has been amended. Under the new agreements, Navamedic will become the holder of the Marketing Authorizations for the individual products from Aspen and Torrent, which means a more flexible role for Navamedic and also an improved potential for value creation.

"Navamedic now enjoys a broad access to a variety of generic pharmaceuticals. This position enables us to develop a portfolio which is tailor made for the Nordic and Benelux markets, while also optimizing our earnings potential," said Navamedic CEO Olof Milveden.

Navamedic has developed its product portfolio since the Company's first generics launch in 2011 and has a strong pipeline of candidates currently under review by medicines authorities. Navamedic aims to grow into a leading provider of generic drugs in the Nordic and Benelux markets over the next few years.

For further information, please call Olof Milveden, CEO, telephone +46 733 463 736 or Bjørn Lindholt, CFO, telephone +47 9300 6601.

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).