Oslo, 1 March 2017 – Navamedic ASA (OSE: NAVA),
the Norwegian medtech and pharmaceutical products company, today announced it is expanding distribution of the angina prevention medicine, Imdur®, to the United Kingdom, Ireland, Malta and Cyprus during the month of March, bringing the distribution to a total of thirteen markets across Europe.
Imdur® is part of a strategic partnership with TopRidge
Pharma Limited (TopRidge Pharma), under which the product has
become Navamedic’s largest single brand.
“It is a pleasure to announce that Navamedic is expanding its distribution of Imdur to four additional Europeans markets during the month of March. Navamedic recorded all-time high sales in 2016, largely due to distribution of Imdur commencing in the Nordics, the Netherlands and the Baltic States. We are now looking forward to continued strong performance for the brand in the UK, Ireland, Malta and Cyprus. The new markets are expected to contribute to annual sales of NOK 4-5 million,” says Tom Rönnlund, Chief Executive Officer of Navamedic.
Imdur® (isosorbide mononitrate), a prescription pharmaceutical used for prevention of angina pectoris due to heart disease, was first launched in Europe in 1985. Navamedic commenced distribution of the product in the second half of 2016, as part of a strategic partnership and long-term distribution agreement with TopRidge Pharma.
“Imdur is already our largest single brand and showcases the importance of our partnership with TopRidge Pharma, with whom we continuously work to identify drivers for future growth,” says Rönnlund.
For further information, please contact:
Tom Rönnlund, CEO, Navamedic
Telephone: +46 727 320 321