OSLO, Norway, Oct. 12, 2021 /PRNewswire/ -- Navamedic ASA (OSE:
NAVA) today announces it has exercised a five-year extension of its
exclusive distribution rights for Mysimba® in the Nordics. Mysimba®
is one of the fastest growing products in Navamedic's portfolio,
displaying sales growth of 89% in first half 2021 compared to the
same period last year.
Mysimba® is the first obesity treatment of its kind, combining
both an oral medicin with a digital and custom-made patient support
program to maximise patients' success in treatment. Mysimba®
reduces hunger and cravings, and provides control over food intake,
while the patient support program provides help in lifestyle and
behavioural change for patients throughout the treatment
period.
In 2017, Navamedic, through it's subsidiary Navamedic AB,
secured exclusive distribution rights for Mysimba® in the Nordics
for an initial period of five years with Currax Pharmaceuticals LLC
(previously Orexigen Therapeutics, Inc.), with an with an option
for Navamedic to extend the agreement on the same terms for a
period of five additional years. Today, Navamedic announces it
has exercised it's option to extend the agreement, securing the
company exclusive distribution rights for Mysimba® in the Nordics
until 27 April 2027.
"We are pleased to announce we will continue our distribution of
Mysimba in the Nordics. Mysimba is one of our fastest growing
products, displaying sales growth of 89% in the first half of 2021
compared to the same period last year. We are looking forward to
continue to help patients in the Nordics, combining this unique
medicine with our tailored support to both patients and healthcare
professionals," says Kathrine Gamborg
Andreassen, CEO of Navamedic ASA.
Navamedic's distribution of Mysimba® has strong traction in both
Norway, where the company have
conditional reimbursement, and in Sweden, where Navamedic has seen impressive
results from its patient support program. On 7 September, the
company announced it has received approval for conditional
reimbursement in Finland from
1 November 2021.
"We have built a solid platform for continued growth for
Mysimba, fueled by both a strong product and support program,
reimbursement in key markets, support from key opinion leaders and
strong execution of our team of local experts. Today, we have a 36%
market share in Finland,
Norway and Sweden combined, targeting an addressable
market of around four million people in the Nordics," says Gamborg
Andreassen.
According to the World Health Organization, around 13% of the
world's population suffer from obesity, defined as abnormal or
excessive fat accumulation that presents a risk to health, with a
Body Mass Index (BMI) above 30. Obesity is a contributing risk
factor for diseases such as cardiovascular diseases, diabetes and
some cancers.
For further information, please contact:
Kathrine Gamborg Andreassen, CEO,
Navamedic
Mobile: +47 951 78 680
E-mail: kathrine@navamedic.com
Lars Hjarrand, CFO, Navamedic
Mobile: +47 917 62 842
E-mail: lars.hjarrand@navamedic.com
Navamedic ASA is a Nordic pharma company and reliable
provider of high-quality products, delivered to hospitals and
through pharmacies, meeting the specific 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
This information is subject to the disclosure requirements
pursuant to section 5 -12 of the Norwegian Securities Trading
Act.
This information was brought to you by Cision
http://news.cision.com
https://news.cision.com/navamedic-asa/r/navamedic-asa-extends-exclusive-distribution-rights-for-mysimba-in-the-nordics,c3430492
