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Vistin Pharma ASA : Vistin Pharma to double its metformin production capacity by 2019 with MNOK 120 investment

Oslo, Norway, 30 August 2016

Norwegian pharmaceutical company Vistin Pharma ASA (OSE: VISTIN) today
announced that it will invest NOK 120 million in a major expansion of its
metformin production facility in Kragerø, Norway. The investment will double
Vistin Pharma's production capacity, and the Company is targeting a 15
percent share of the global Metformin API market.

"This expansion is an important milestone for Vistin Pharma and will
strengthen our position as one of the world's largest producers of metformin
- the standard first-line treatment for Type 2 Diabetes. With a new
production line in place, Vistin Pharma will be able to better serve existing
and new customers and grow our business significantly," says CEO Kjell-Erik

The NOK 120 million investment will be financed by existing cash reserves,
cash generation and debt. The new production line is expected to be fully
operational from 2019, and will expand the production capacity by 3,000
metric tonnes (MT).

The global market for metformin is expected to grow by 7-8 percent per annum
for many years to come. Vistin Pharma's current capacity has allowed the
Company to produce 3,000 metric tonnes (MT) of metformin annually. According
to Company estimates, Vistin Pharma controls approximately 8 per cent of the
global market for metformin. Global pharmaceutical companies purchase
metformin for use in producing drugs to treat type 2 Diabetes. With this
expansion, Vistin Pharma targets a 15 percent global metformin API market

"This capacity expansion reflects Vistin Pharma's aggressive growth strategy.
The underlying stable growth in the metformin market, coupled with continued
strong demand for Vistin Pharma's premium products, makes us confident that
this investment will be a profitable one," says Nordby.

Vistin Pharma will give its 2nd quarter presentation today at 08:30 CET at
Felix Konferansesenter, Bryggetorget 3, Oslo, Norway. CEO Kjell-Erik Nordby
and CFO Gunnar Manum will represent the Company. The presentation will be
webcast live and can be accessed directly

For further information, please contact:

Kjell-Erik Nordby
+47 91 36 42 80

Gunnar Manum
+47 95 17 91 90

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
About Vistin Pharma

Vistin Pharma is a Norwegian pharmaceutical company producing Active
Pharmaceutical Ingredients (APIs) and solid dosage forms for the global
pharmaceutical industry. The Company has key positions in the Metformin and
Opioids markets, and a strong foundation for creating a highly efficient
Contract Manufacturing tablet production (CMO) business. Solid growth
potentials exist in all the business segments.

With more than 65 years of pharmaceutical industry experience, Vistin Pharma
has built significant capacity and expertise as an API provider. The Company
has more than 140 highly qualified employees and two manufacturing facilities
in Kragerø, Norway. Both facilities are certified according to current Good
Manufacturing Practice (cGMP) and successfully inspected by the US Food and
Drug Administration (FDA) in 2014. Vistin Pharma's headquarter is in Oslo,


This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq 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: Vistin Pharma ASA via Globenewswire

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