Navamedic signs marketing and distribution agreement in Austria

Navamedic ASA and Grünenthal GmbH have signed a Heads of Agreement for marketing and distribution of Glucomed/Flexove in Austria.

Navamedic ASA and Grünenthal GmbH have signed a Heads of Agreement for marketing and distribution of Glucomed/Flexove in Austria.

Glucomed/Flexove is a glucosamine HCl product for symptom treatment of osteoarthritis and Navamedic has now established a marketing and distribution network with 12 partners, among them Merck, Grünenthal and Meda, covering 23 countries.

-Grünenthal sees the cooperation with Navamedic on their product Glucomed/Flexove as a great opportunity. It fits well with our focus on development and marketing of analgesics and with our aim to become the preferred pain partner for the medical community. Grünenthal is the only research-based company with products in all steps of the WHO analgesic ladder and leading company in non-narcotic opioid treatment in Austria. Glucomed/Flexove will help us in expanding our position, says Dr Dirk Krause, General Manager of Grünenthal Austria GmbH.

Navamedic's application for product approval in the EU/EAA was approved by the EU committee for Medicinal Products for Human Use (CHMP) in their September 2006 meeting and by the EU Commission in December 2006, and Navamedic is now awaiting local Marketing Authorizations.

- Grünenthal is a perfect partner for our product, given their position in pain therapy. We are pleased to extend the co-operation with Grünenthal beyond the Heads of Agreement signed for 7 countries in Central and Eastern Europe in September 2006. Glucomed/Flexove will be the first pharmaceutical glucosamine product on the market in Austria and we believe that Grünenthal will be able to promote the product in a stong and profitable manner for both companies, says CEO Øyvind W. Brekke in Navamedic.

The final agreement is expected to be formally signed before 31.03.2007.

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