Eight new products to Navamedic's portfolio
Navamedic's wholly owned subsidiary Vitaflo Scandinavia has signed a distribution agreement with UK based Vitaflo International Ltd (Nestlé) for eight new nutritional products, expanding the portfolio to more than 65 pharmaceutical drugs and healthcare products.
The new products are all nutritional supplements used by patients with metabolic disorders. Most of these patients need lifelong treatment in order to adjust their metabolism.
The product expansion further strengthens Vitaflo's position in this segment and supports a continued high sales growth for the company.
Despite sharing the same name and a common origin, Vitaflo International (Nestlé) and Vitaflo Scandinavia are today two separate companies with different owners.
Navamedic's subsidiary Vitaflo Scandinavia is a Nordic distributor of more than 65 pharmaceutical drugs and health care products from more than 20 manufacturers. The company saw a 29 per cent sales growth in 2011 followed by a 22 per cent sales growth in the first quarter 2012.
For further information, please call Olof Milveden, CEO, telephone +46 733 463 736.
Navamedic ASA is a Norwegian pharmaceutical products company. Through its subsidiary Vitaflo Scandinavia the Company is a distributor of a broad range of nutrition and pharmaceutical products in the Nordic markets. Navamedic is currently building up a generic pharmaceutical business for the Nordic, Dutch and Belgian markets based on its partnership with Aspen Healthcare of South Africa. Navamedic is listed on the Oslo Stock Exchange (ticker: NAVA).
This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act)