Negative outcome of part of generic substitution case
Navamedic launched its glucosamine HCl product Glucomed in Sweden via its distributor Meda in December 2005. Prior to the launch, Läkemedelsvärket had recommended that both Glucomed and Recip's Glucosine were to be regarded as generic substitution to Pfizer's Artrox, which is the leading glucosamine product in Sweden.
Pfizer launched a complaint against the recommendation, based on claimed difference in tablet size between Glucomed and Artrox. This case is not yet decided by Länsrätten. Länsrätten rejected the complaint filed by Navamedic against the inclusion of Recip's Glucosine on the list of generic substitution. Navamedic filed its complaint due to significant differences in product composition, but Länsrätten did not find that it was sufficiently demonstrated that these differences are important enough to prevent generic substitution. Navamedic is considering to appeal Länsrätten's decision.
-We continue to believe that Glucosine is not identical to Glucomed, but the decision of Länsretten could make the Swedish market place more difficult than we had hoped for. We are now awaiting the outcome of the complaint by Pfizer to evaluate the best way to address the Swedish market going forward, says CEO Øyvind Brekke.
For further information, please contact:
CEO Øyvind S. Brekke, Navamedic
E-mail: oyvind.brekke@navamedic.com
Office: +47 67 11 25 40, Mobile: +47 91 19 81 64
CFO Bernt-Olav Røttingsens, Navamedic
E-mail: bor@navamedic.com
Office: +47 67 11 25 44 Mobile: +47 913 47 021
About Navamedic ASA:
Navamedic is a Norwegian speciality pharmaceutical company focusing on the development and production of glucosamine HCl (hydrochloride) based medicines. Glucosamine is a generic active ingredient which relieves pain and improves function in patients with mild to moderate osteoarthritis. The product has a favourable safety profile. Osteoarthritis is a chronic disease which affects a large and growing share of the world`s population. Navamedic aims to become a leading company in the glucosamine industry, with a competitive advantage in proprietary production technology. Navamedic`s product Glucomed/Flexove has been approved across 25 EU/EEA states by European Medicines Agency (EMEA), as the first and only glucosamine based medicine against osteoarthritis. The company`s products will be sold through a network of sales, marketing and distribution partners. For more information, please see www.navamedic.com