Vitaflo signs new in-licensing agreement for Nordic countries.
The products fall within the knowledge areas pain and alcohol/heroin abusement, respectively. Vitaflo already represents OrphaSwiss in the knowledge area alcohol/heroin abusement with the product Naltrexone Vitaflo. Naltrexone Vitaflo is the market leader in its segment in Sweden.
The current market size for the targeted market segment totals approximately SEK 35-40 million. Both products are currently under registration, and product launch is expected in 2008 for both products. The agreement has a duration of 5 years.
-We are very pleased to see that our new subsidiary continues its strong record of signing new in-licensing agreements and expanding its portfolio. It is particularly encouraging to see that OrphaSwiss, who is already Vitaflo's partner on Naltrexone, demonstrates continued trust in Vitaflo as it's distributor in the Nordic countries, says CEO in Navamedic Øyvind W. Brekke.
Commenting on the agreement, Roland Sandström, Executive Chairman of Vitaflo, says: "With the agreement we expand the cooperation with OrphaSwiss and at the same time we are strengthen our presence in the very interesting area of alcohol/heroin abusement as well as starting up a new knowledge area, pain, with great potentials"
-We very much appreciate our collaboration with Vitaflo AB in the Scandinavian countries. Vitaflo already represents successfully our product Naltrexone in different countries. We are convinced that Vitaflo will make a successful launch also for the two new products for anesthesia and intensive care, says Roger Gasparoli in OrphaSwiss.
For further information, please contact:
Øyvind W. Brekke, CEO Navamedic ASA
E-mail: oyvind.brekke@navamedic.com
Office: +47 67 11 25 40
Mobile: +47 91 19 81 64
Bernt-Olav Røttingsnes, CFO/IRO Navamedic ASA
E-mail: bor@navamedic.com
Office: +47 67 11 25 44
Mobile: +47 91 34 70 21