OSLO, Norway, March 31, 2020 /PRNewswire/ -- Navamedic ASA
(OSE: NAVA), today announces it has entered into an exclusive
distribution agreement with Angelini Pharma for ThermaCare® in the
Nordics and the strategically important Dutch market. With the
agreement, Navamedic strengthens its position in the Consumer
Health segment and enters the important pain category.
"We are pleased to announce the agreement with Angelini Pharma
for ThermaCare, expanding our portfolio of high-quality products to
the benefit of our customers in the Nordics and Netherlands, underpinning the value of our
insights, local expertise and multi-channel marketing approach,"
says Kathrine Gamborg Andreassen,
CEO of Navamedic, and continues:
"Navamedic is driving growth in the Specialty Pharma, Medical
Nutrition, and Consumer Health segments, and this agreement
strengthens our position in Consumer Health where we see a great
potential in developing products in important categories such as
pain treatment. The agreement also contributes to building our
position in the Netherlands, which
is an important part of our growth strategy."
"The acquisition of ThermaCare is aligned with the ambition of
Angelini Pharma to strengthen our leadership in Consumer Health and
to further grow in Europe thanks
to this distinctive brand. To unleash this ambition, we need the
right partners and I trust that Navamedic will boost the expansion
of the ThermaCare brand in the north of Europe," commented Pierluigi Antonelli, CEO at Angelini Pharma.
ThermaCare®, launched by Procter & Gamble in 2001, is an
advanced pain therapy for back, neck and muscles, classified as a
Medical Device class IIa. The therapy is applied as heat wraps
which is activated upon contact with air and placed on pain points,
exactly where the user needs it. ThermaCare® delivers up to 16
hours of pain relief, 8 hours while used and 8 hours after it has
been taken off. The larger adhesive area makes it easy to
re-adjust, and the single-use wraps are thin enough to be worn
discreetly under clothing. Angelina Pharma, that belongs to
Italian Angelini Group, acquired the ThermaCare® global business
rights (excluding North America)
from GSK earlier this year. According to the exclusive distribution
agreement now entered into with Angelina Pharma, Navamedic will
take over and accelerate marketing, sales and distribution of
ThermaCare® in the Nordics and Netherlands from July
2020. The agreement has a duration of eight years, with
options to extend.
About Angelini Pharma
Angelini is committed to give hope to patients in the areas of
CNS (included pain), Rare Diseases and Consumer Health. Angelini
Pharma is an "integrated pharmaceutical company" with extensive
R&D programs, world-class manufacturing and marketing of both
active ingredients and branded drugs. For further information
please visit www.angelinipharma.com
For further information, please contact:
Kathrine Gamborg Andreassen, CEO, Navamedic
Mobile: +47-951-78-680
E-mail: kathrine@navamedic.com
Lars Hjarrand, CFO, Navamedic
Mobile: +47 917 62 842
E-mail: lars.hjarrand@navamedic.com
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http://news.cision.com
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