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Navamedic ASA acquires marketing authorizations for antibiotics in the Nordics
31st July, 2020
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31st July, 2020
Navamedic has entered a term sheet with ACS Dobfar and InfoRLife to acquire the marketing authorisations for a series of antibiotics that is currently in use at hospitals in the Nordic region. The annual turnover from the portfolio is approximately NOK 25 million and an important step in Navamedic’s growth strategy. As part of the collaboration, the parties have also agreed to enter into a long-term supply and service agreement including launch of new products in the future – potentially also outside the Nordic territory.
“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.
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.
On the 7th February 2020, Navamedic made an announcement that the acquisition of a antibiotics in the Nordics has been delayed. The plan was to close the transaction by the end of June 2020, but due to the COVID-19 situation the finalization of the transaction has been delayed. Navamedic’s current plan is to close the transaction by the end of July or early August 2020. This will be followed by a stock exchange announcement.