2/7/2020 10:38:51 AM
Oslo, 7 February 2020 – Navamedic ASA (OSE: NAVA) today announces it has entered into a term sheet with ACS Dobfar and InfoRLife to acquire the marketing authorisations for a series of antibiotics for hospital use in the Nordic region. This is an important step in Navamedic’s growth strategy.
“We are pleased to announce that we have entered into this term sheet, which is in line with our growth strategy to increase ownership of assets such as marketing authorisations. The transaction will strengthen Navamedic’s hospital offering with an important product range. The products are developed and manufactured by a reliable European supplier, which will underpin Navamedic’s efforts in mitigating the drug shortage situation in the Nordics,” says Kathrine Gamborg Andreassen, CEO of Navamedic.
As outlined in the term sheet, Navamedic will acquire the marketing authorisations for a series of antibiotics for hospital use in the Nordic region. The term sheet is entered into with the Italian chemical-pharmaceutical company ACS Dobfar S.p.a. and its Swiss subsidiary InfoRLife SA, a pharmaceutical company developing, registering and producing ready-to-use medicines.
The antibiotics in the portfolio are designed to be given intravenously to patients and are currently in regular use in hospitals in all the Nordic countries with an annual turnover of approximately NOK 25 million. As part of the collaboration, the parties have agreed to also enter into a long-term supply and service agreement including launch of new products in the future - potentially also outside the Nordic territory.
The parties plan to complete the asset purchase agreement and supporting agreements by 31 March 2020, and to close the transaction by 30 June 2020. Further details will be given after the closing of the transaction.
For further information, please contact:
Kathrine Gamborg Andreassen, CEO, Navamedic
Mobile: +47 951 78 680
Lars Hjarrand, CFO, Navamedic
Mobile: +47 917 62 842
Navamedic ASA is a full-service provider of high-quality healthcare products to hospitals and pharmacies. Navamedic meets the specific medical needs of patients and consumers by leveraging its highly scalable market access platform, leading category competence and local knowledge. Navamedic is present in all the Nordic countries, the Baltics and Benelux, with sales representation in the UK and Greece. Navamedic is headquartered in Oslo, Norway, and listed on the Oslo Stock Exchange (ticker: NAVA). For more information, please visit www.navamedic.com
About ACS Dobfar
ACS Dobfar is an Italian, privately held, chemical-pharmaceutical company with headquarters located outside Milano. In continuous growth, the company is currently employing more than 3000 people at 23 different facilities in four continents. Established in 1973, the company is today a fully-integrated provider of high-quality pharmaceutical intermediates, active pharmaceutical ingredients (APIs) and finished dosage forms (oral and injectables) and is a global leader in the antibiotic classes called cephalosporins and carbapenems. ACS Dobfar products are sold in over 100 countries around the world.
Being a subsidiary of ACS Dobfar, InfoRLife is a pharmaceutical company developing, registering and producing ready-to-use medicines with main facility in Brusio, Switzerland. The company also controls three subsidiaries located in Romania, Tunisia and Brazil. InfoRLife is specialized in the manufacture of medicines in plastic bags using sterile methods and technology with high-quality content and develops all its new products in its own R&D laboratories. The company is approved by the USA Food and Drug Administration (FDA) for sales in the USA, which is its main market.