Continued positive development for Navamedic
Navamedic's second quarter 2011 revenues saw a 43 per cent growth over last year. Revenues were NOK 18.2 million compared to NOK 12.7 million in the same period of 2010 The quarter represented the third consecutive all-time high in terms of sales for Vitaflo Scandinavia AB.
EBITDA for the second quarter reached NOK -1.1 million, compared to NOK -1.5 million in the same period of 2010.
The development of Navamedic's new generic drug business remains on track. The first two products will be launched within the next four months.
For further information, please call Olof Milveden, CEO, telephone +46 733 463 736 or Bjørn Lindholt, CFO, telephone +47 9300 6601