Navamedic prepares for generics pharma launch
The company\'s first product launches of generic products will be in late 2011 and throughout 2012
Norwegian company Navamedic now has 10 generic product candidates filed for registration and expects its first generic product to be on the market within eight months.
Navamedic began preparations for entering the generics market 14 months ago, when it entered into a partnership agreement with Aspen Pharmaceuticals of South Africa. Aspen is one of the world leaders in generic pharmaceuticals and Navamedic is the Group's sole distributor in the Nordic and Benelux markets.
"The number of product candidates filed demonstrates that Navamedic is on track in building an attractive generic pharmaceutical business. We have filed for registration in the Nordic countries, Belgium and Netherland. The available markets for the 10 candidates currently filed amount to approximately NOK 700m [£78m],’ said Navamedic ceo Olof Milveden.
An increasing number of patents will expire over the next few years, supporting continued strong market growth for generic pharma products. The Nordic and Benelux generics markets are expected to have a total market value of more than NOK10bn (£1.13bn) in two years. By this time Navamedic expects to have at least 13 generic products in the market.
