Innovative Norwegian heart medication set for launch in South Africa
The Norwegian pharmaceutical company Asamedic AS has entered an agreement with the pharmaceutical company Nova Scotia Group (NSG) in South Africa. The over-the-counter drug Coxor was first launched in Norway in January and is to be used immediately in suspected heart attacks.
“We have followed Asamedic for a long time, and we have always seen the potential of liquid acetylsalicylic acid in the treatment of acute myocardial infarction. Now that we see that the product works and has been well received in the home market, we are very excited to launch it in South Africa,” says Sandile Dlamini, CEO of the Nova Scotia Group (NSG).
More than 35,000 Norwegians have bought the product since Coxor became available in pharmacies in February.
“We are very satisfied with the development in Norway so far. We know that the product can have great international potential and we are pleased with the agreement in South Africa. We are in negotiations with several other major players, and the ambition is to sign several agreements shortly,” says Geir Ivar Westen, CEO of Asamedic.
Each bottle of Coxor contains 300 mg of acetylsalicylic acid (ASA) and a unique solvent. The product reduces the platelets' ability to clump further, and is patented in large parts of the world. Under the agreement between Asamedic and NSG, NSG will pay an upfront fee for the exclusive rights to the product in South Africa, and they will immediately start the registration process. The agreement is otherwise based on normal royalty rates and milestone payments. NSG is responsible for all marketing and sales activities.
“Our intention is to start selling Coxor in South Africa as soon as possible. We then want to expand to several other countries on the African continent,” says Sandile Dlamini.
The Asamedic chairman is satisfied that the company's international ambitions are now being realised.
“We are very pleased to have signed our first agreement outside the Nordics. We have great international ambitions and believe that a product that can save lives in this way will be of interest to both financial and industrial international players,” says Leif Thoring, chairman of Asamedic.
For inquiries or questions about Asamedic, contact Geir Ivar Westen, CEO of Asamedic, on telephone number +47 90546049 or e-mail firstname.lastname@example.org.
About Asamedic AS
Asamedic, a Norwegian company established in 2013, is based on founder Per Erik Stribolt-Halvorsen's idea to develop a liquid variant of ASA. Asamedic has 80 shareholders, many of them from within the medical field. You can read more about Asamedic at www.asamedic.no.
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