Norwegian Pharma Navamedic Reports Q3 Results
For the first nine months of 2011, Navamedic posted sales of NOK 52.0 million, which is a 32 per cent growth over the same period last year.
Norwegian pharmaceutical company Navamedic ASA has announced its third quarter 2011 results.
Sales grew by 25 per cent compared to the third quarter last year and Navamedic's margins improved. The company continues to invest in its new generic drugs business and launched its two first generic products earlier this month. The Company currently has 11 generic products filed for approval and expects to launch eight of these in the market during 2012.
Navamedics' sales were NOK 17.0 million in the third quarter. All sales were generated by the Vitaflo business area, which is a Nordic distributor of patented drugs and healthcare products. While Vitaflo profitability continues to improve, Navamedic's results are affected by costs related to the build-up
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