Navamedic: Two first generic drugs launched

Navamedic ASA (OSE: NAVA), the Norwegian pharmaceutical products company, today
announced the successful launch of its two first generic pharmaceutical
products. The launch is an important milestone in the development of Navamedic's
new Generics Business Area.
 
Mycophenolate Mofetil® (MMF) is an immunosuppressant being used by patients who
have undergone organ transplants. The product can replace Roche's CellCept and
the market available to Navamedic's MMF is estimated at approximately NOK 160
million. MMF has initially been launched in Sweden, Denmark and Finland.
 
Olanzapine® is a product used in the treatment of patients suffering from
psychotic diseases. The product can replace Eli Lilly's Zyprexa and the market
available to Navamedic's Olanzapine is estimated at approximately NOK 70
million. The initial market launch is in Finland and the Netherlands.
 
"These events represent a page-turner in the development of Navamedic. We are
now a player in the dynamic and exciting generic drugs market. Our aim is to be
one of the top five Nordic companies is this sector in 2015," said Navamedic's
CEO Olof Milveden.
 
The markets for generic pharmaceuticals are growing rapidly, as health
authorities across Europe encourage a substitution to generics when patents for
the original products expire. An increasing number of patents will expire over
the next few years, supporting continued strong market growth for generic pharma
products. The Norwegian Medicines Agency estimates that the annual savings in
selecting generic alternatives currently amount to NOK 2 billion in Norway
alone.
 
In addition to the two products now launched, Navamedic currently has 11
products under review by medicines authorities, progressing towards approval.
Navamedic expects to launch eight generic products next year.
 
For further information, please call Olof Milveden, CEO, telephone
+46 733 463 736 or Bjørn Lindholt, CFO, telephone +47 9300 6601.
 
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)
 
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Source: Navamedic ASA via Thomson Reuters ONE
 
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