Oslo, 30 April 2021 – Navamedic ASA (OSE: NAVA) publishes its annual report for 2020. The report is attached and available on navamedic.com/investors.
Highlights for 2020:
- Navamedic has made strategically important investments in its organization and platform, including strengthening its presence and positioning in the Dutch market and the launch of the company’s patient support program. These investments will be key as Navamedic embark 2021 and continue to launch new products and continue to grow its existing portfolio.
- In full-year 2020, Navamedic’s revenues increased by 11.2% to NOK 209.9 (NOK 188.8 million) with an EBITDA of negative NOK 1.3 million (negative NOK 6.5 million) driven by both new product launches and investments in further growth initiatives.
- Gross margin improved to 33.5% (30.5%), partly due to favourable revenues mix, reduced CoGS and other changes.
- Strengthened the company’s portfolio and offering across product categories. In 2020, Navamedic strengthened its hospital and prescription drug offering through the acquisition of Nordic marketing authorizations for a large hospital antibiotics portfolio.
- The company expanded its consumer health offering by entering a long-term exclusive distribution agreement for ThermaCare® in the Nordics and the Netherlands. Alflorex® launched in Denmark, Iceland and the Netherlands during the year, and continued growth in Norway.
- Continued strong performance for Mysimba®, accelerated by improved reimbursement in Norway and Navamedic’s patient support program.
- Navamedic completed a private placement including a subsequent offering to raise a total of NOK 52.4 in order to fund growth initiatives as well as general corporate purposes.
“In 2020, we have continued the implementation of our growth strategy. We have built on our solid foundation and strengthened our existing business by leveraging and investing in our highly scalable market access platform. We have focused strongly on launches of new products and will launch new products in at least one country in each launch window going forward. We have increased value through acquisitions of products and brands. In short, we have continued our journey of building a leading Nordic pharma company, targeting growth in Northern Europe,” says Kathrine Gamborg Andreassen, Chief Executive Officer of Navamedic ASA.
For further information, please contact:
Kathrine Gamborg Andreassen, CEO, Navamedic
Mobile: +47 951 78 680
Lars Hjarrand, CFO, Navamedic
Mobile: +47 917 62 842
Navamedic ASA is a Nordic pharma company and reliable provider of high-quality products, delivered to hospitals and through pharmacies, meeting the specific needs of patients and consumers by leveraging its highly scalable market access platform, leading category competence and local knowledge. Navamedic is present in all the Nordic countries, the Baltics and Benelux, with sales representation in the UK and Greece. Navamedic is headquartered in Oslo, Norway, and listed on the Oslo Stock Exchange (ticker: NAVA). For more information, please visit www.navamedic.com
This information is subject to the disclosure requirements pursuant to section 5 -12 of the Norwegian Securities Trading Act.