Navamedic launches its first generic drugs
Aims to be a top five Nordic player in this sector by 2015
Navamedic, a Norwegian pharmaceutical products company, has introduced its first two generic pharmaceutical drugs.
The Lysaker-based firm is developing a generics pharmaceutical business for the Nordic, Dutch and Belgian markets in a partnership with Aspen Healthcare of South Africa.
The first drug, Mycophenolate Mofetil (MMF), is an immunosuppressant for organ transplant patients. Navamedic says it is an alternative to Roche's CellCept and it estimates a market of approximately NOK160m (€20m) for the product, which has initially been launched in Sweden, Denmark and Finland.
The second product, Olanzapine, is for the treatment of psychotic diseases. This is an alternative to Eli Lilly's Zyprexa and is estimated to have a market of NOK70m (€9m). It has initially been launched 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 chief executive Olof Milveden.
The Norwegian Medicines Agency estimates that the annual savings to be made from selecting generic pharmaceutical products are currently NOK2bn (€260m) in Norway alone.
In addition to the two new products, Navamedic also has 11 products under review by medicines authorities and progressing towards approval. The firm expects to launch eight generic products next year.
