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Navamedic ASA: Navamedic expands cooperation with Aspen

Navamedic ASA (OSE: NAVA) today announced an expansion of the Company's
cooperation with generic pharmaceuticals manufacturer Aspen of South Africa.
Navamedic assumes responsibility for products representing
NOK 40 million in annual sales.

Aspen, the largest pharmaceuticals company in the southern hemisphere, has
been Navamedic's main supplier since 2010. Navamedic markets and distributes
Aspen products in the Nordic and Benelux markets.

Aspen acquired a portfolio of pharmaceuticals for the European market from MSD
last year. Starting immediately, Navamedic will market and distribute the
majority of these products in the Nordic markets on Aspen's behalf. The
products now being included in Navamedic's portfolio represent annual sales
of approximately NOK 40 million in these markets. Navamedic had total
revenues of NOK 152 million last year.

Navamedic has also renegotiated its previous agreements with Aspen, improving
the Company's overall profitability from its relationship with the South
African pharmaceuticals group.

"The renewed and expanded cooperation with Aspen establishes an even stronger
platform for Navamedic. We will continue to pursue growth in the Nordic
markets and further improve the Company's profitability," said Navamedic's
acting CEO Håkan Josephsson.

For further information, please call Håkan Josephsson, interim CEO, telephone
+46 706 742 533 or Bjørn Lindholt, CFO, telephone +47 9300 6601.

Navamedic ASA is a Norwegian pharmaceutical products company, marketing and
distributing more than 100 products in the Nordic and Benelux markets. The
Company operates three business areas; Pharma Products, Medical Nutrition and
Consumer Care based on its relationship with a number of pharmaceutical
product manufacturers. Navamedic is listed on the Oslo Stock Exchange
(ticker: NAVA).


This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Navamedic ASA via Globenewswire


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