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Navamedic ASA (OSL:NAVA) (Lysaker, Norway, 22 September 2008) Navamedic ASA has signed a marketing and distribution agreement with Queisser Pharma for Glucomed in Germany. Navamedic will from 2009 have two partners to market Glucomed in the German market.
- We are very glad to have Queisser as our second partner in Germany and look forward to introducing our product under their widely recognized brand. We believe this is an important step to improve our total market share in this market, says CEO Øyvind Brekke in Navamedic.
Queisser Pharma is one of the leading OTC companies in Germany, and has a strong portfolio of products in the area of multivitamins, dietary supplements and natural remedies. Their OTC-brand Doppelherz has a brand awareness of 86% in Germany. In 2006, Queisser introduced Doppelherz System as their pharmacy-only brand.
Queisser is expected to launch Glucomed during 2009 under the brand name Doppelherz System Glucosamin med 750. Navamedic's other partner continues to market Glucomed in Germany. Glucomed is sold as OTC without reimbursement in competition with other pharmaceuticals and nutraceuticals.
The 8- year agreement is non-exclusive. Under the agreement, Queisser commits to certain minimum marketing investments during the launch year.
For further information, please contact:
Øyvind W. Brekke, CEO Navamedic ASA E-mail: oyvind.brekke@navamedic.com Office: +47 67 11 25 40 Mobile: +47 91 19 81 64
