Navamedic ASA, a leading Nordic pharma company, reported strong financial results for the first half of 2024, with revenues reaching NOK 277.2 million, up 12.8% from the previous year. The company’s adjusted EBITA also saw significant growth, amounting to NOK 41.1 million. This positive performance was driven by key strategic initiatives, including the launch of Eroxon® and a renewed contract with the Norwegian Hospital Procurement Trust.
One of the major highlights of the first half of 2024 was Navamedic’s agreement with Orion Corporation to market and sell Flexilev® and OraFID® in Europe. This partnership is a significant milestone for Navamedic, as Orion is a strong commercial partner with a prominent presence in the European market for Parkinson’s disease treatment.
CEO Kathrine Gamborg Andreassen expressed satisfaction with the company’s achievements, emphasizing the expansion of Navamedic’s geographical reach and product portfolio. The company’s operating results for the first six months of 2024 were also impressive, with EBIT reaching NOK 33.8 million and operating costs at NOK 77.8 million.
In the second quarter of 2024, Navamedic continued its growth trajectory, with revenues increasing by 26.2% year-over-year. The company’s Prescription Drugs (RX), Hospital, and Consumer Health segments all experienced steady growth, with notable successes in key product categories like Mysimba®, Imdur®, and Forlax®.
Within the Hospital category, Navamedic’s antibiotics portfolio showed strong growth, while the Consumer Health category saw the successful launch of Eroxon® in Sweden. Hero products like Absolut Torr and GeloRevoice also delivered impressive growth, demonstrating the company’s commitment to meeting consumer needs in innovative ways.
Looking ahead, Navamedic remains optimistic about its growth prospects and is focused on exploring new market expansion opportunities. The company aims to become a NOK 1 trillion revenue company in the mid-term, reflecting its commitment to enhancing public health by providing access to quality healthcare products.
For more information about Navamedic’s financial results and strategic initiatives, visit the company’s investor relations webpage. Navamedic’s leadership team will be hosting a presentation to discuss the results for the second quarter and first half of 2024, providing further insights into the company’s performance and future plans.
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