Navamedic signs distribution agreement
Navamedic has signed an exclusive distribution agreement with the German pharmaceutical company Pohl-Boskamp for its new head lice remedy NYDA.
(Oslo, 6 December 2010) The agreement with Pohl-Boskamp opens another market for Navamedic's fully owned subsidiary Vitaflo Scandinavia. Through the agreement Vitaflo Scandinavia will gain the exclusive right to distribute the new and unique head lice remedy NYDA in Norway, Sweden and Denmark. The market for head lice in these countries is estimated to be worth approximately SEK 18 million per year.
"We welcome the distribution agreement and register a growth in the demand for these types of products. NYDA is recommended by the Swedish pharmaceutical authority (Legemiddelverket) which we believe is an important reassurance for the consumers," said Olof Milveden, CEO of Navamedic.
NYDA is a completely new head lice remedy. The active ingredients in the product penetrate the airways of both the lice and its eggs and cause suffocation. If used as prescribed, users will get rid of all lice with one treatment. NYDA is a mild product and is suitable for children from the age of two.
Pohl-Boskamp is a German pharmaceutical company with a long history and track record. It is known for its dedication to health promoting activities and quality in manufacturing pharmaceutical products and medical equipment since 1835. Pohl-Boskamp's products are sold in 45 countries.
This agreement is one in a series of recent deals for Navamedic and illustrates the company's growth strategy. Earlier this year, Navamedic signed an exclusive agreement with the Norwegian company Smartfish for the distribution of its products within Medical Nutrition in Sweden, Denmark and Finland. Navamedic has also signed an exclusive agreement with Aspen Healthcare giving Navamedic the right to market Aspens products in Norway and the Benelux countries. Aspen is one o the world's largest producer of generic products.
For further information:
Olof Milveden, CEO, Navamedic ASA
Telephone +46 31 335 11 90 or mobile + 46 733 463736
Håkan Josephsson, CEO, Vitaflo Scandinavia AB
Telephone +46 31 335 11 93 or mobile: +46 70 674 25 33
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Navamedic ASA is a fast-growing speciality pharma company with high growth ambitions. Navamedic markets a portfolio of more than 45 products from more than 20 producers in Sweden, Denmark, Finland, Norway and Holland.
The company is constantly seeking products to complement the existing portfolio within selected knowledge areas.
Navamedic ASA has been listed on the Oslo Børs (Oslo stock exchange) since 31 March, 2006.
The group includes Navamedic ASA and the subsidiary Vitaflo Scandinavia AB (Vitaflo). The group's head office is at Lysaker outside Oslo, Norway.
Vitaflo was established in 1999 and became part of the Navamedic group in October 2007. Vitaflo is a speciality pharma company with focus on acquiring and/or in-licensing of products within selected knowledge areas. Vitaflo markets its products directly in Sweden, Denmark, Norway, Finland and Holland, and exports products outside these markets. Vitaflo currently markets more than 40 products and has several products under registration. The product portfolio consists of licensed products, original pharmaceuticals and generic products.