Navamedic launches new stomach drug
Navamedic ASA (OSE: NAVA) today announced that the Company is launching a new pharmaceutical product, aimed at reducing acid production in the stomach.
Initially, the generic drug Esomeprazole Navamedic will be launched in Finland, which offers the Nordic region's best market conditions for generic drugs. The total Finnish market for this particular product and its competitors is approximately NOK 30 million. Esomeprazole Navamedic will also be introduced in the Swedish market, while the other Nordic markets offer limited potential for this particular product.
Navamedic has experienced a strong sales growth over the last few years, and Finland has recently been the Company's high growth market. While the Company's total sales grew by 47 per cent last year, sales in Finland more than tripled in 2014.
Esomeprazole Navamedic is used in the treatment of stomach ulcers and gastro-esophageal reflux disease. These diseases are among the most frequently treated conditions in our part of the world. Drugs for treating stomach ulcers and reflux diseases have been bestselling pharmaceuticals for many years.
For further information, please contact interim CEO Håkan Josephsson, telephone +46 706 742 533 or CFO Bjørn Lindholt, telephone +47 9300 6601.
Navamedic ASA is a Norwegian pharmaceutical products company, marketing and distributing more than 120 products in the Nordic and Benelux markets. The Company operates three business areas; Pharma Products, Medical Nutrition and Consumer Care based on its relationship with a number of pharmaceutical product manufacturers. Navamedic is listed on the Oslo Stock Exchange (ticker: NAVA).