Nordic pharmaceutical company Navamedic ASA has reported its financial results for the second quarter and first half of 2025, with strong momentum in its Hospital business, particularly in the antibiotics portfolio.

Revenues in the second quarter of 2025 were NOK 137.3 million (around USD 13.46 million), a decrease of 12.2 percent from NOK 156.3 million (around USD 15.32 million) in the second quarter last year.

The decrease is mainly driven by the milestone fee from Orion corporation of NOK 22.7 million (USD 2.22 million) in 2024. Excluding this license fee, revenues grew by 5.8 percent year-on-year (YoY).

The company’s performance in Q2 was largely driven by the Hospital segment, particularly the antibiotics portfolio. Recent tender wins boosted antibiotics sales by 48.4 percent year-on-year, contributing to a 23.5 percent YoY increase in the Hospital business overall.

Within the segment, the Medical Nutrition portfolio also posted a 3.3 percent sales increase. In contrast, the Prescription Drugs and Consumer Health segments recorded declines of 2.8 percent and 3.5 percent YoY, respectively.

“Having invested in various strategic growth initiatives over the last year, we are encouraged by the results in the second quarter of 2025. Excluding the Orion license fee last year, the 5.8 per cent revenue growth was positively impacted by Nordic tender wins for our antibiotics portfolio. Furthermore, several products, including Imdur from our Prescription Drugs (RX) segment, have shown strong performance this quarter,” said Kathrine Gamborg Andreassen, CEO of Navamedic.

Navamedic also announced approval of the medical device OraFID as the primary package for Flexilev, its medical treatment for Parkinson disease, enabling personalized, fine-tuned treatment with minitablets.  

“A key milestone was reached in June, when the Swedish Medical Products Agency—acting as the Reference Member State—approved OraFID for use with a medicinal product. OraFID is a novel dispensing device that releases an exact number of minitablets with just a couple of twists. It is approved as an integral combination product with Flexilev, Navamedic’s medication for the treatment of Parkinson’s,” Andreassen stated.

The company is now actively preparing for the commercial launch of Flexilev in OraFID across the Nordic region, with the launch expected in October 2025.

In addition, the first half of 2025 marked Navamedic’s expansion into the field of addiction treatment through the acquisition of the business of dne pharma AS. This acquisition includes dne pharma’s entire business—its product portfolio, key personnel, critical business contracts, intellectual property, licenses, and distribution agreements.

The acquired business will be integrated into Navamedic’s established commercial platform, enabling rapid market entry and further geographic expansion across the Nordics and targeted European markets.

In the first half of 2025, revenues amounted to NOK 269.3 million, down from NOK 277.2 million in the same period last year (NOK 254.5 million excluding license fee), while the gross margin was 39.0 percent, compared to 42.9 percent in the first half of 2024 (37.8percent excluding license fee).

EBITDA ended at NOK 22.9 million in the first half of 2025, compared to EBITDA of NOK 41.1 million in 2024 (NOK 18.4 million excluding license fee).

Navamedic continues to see growth and new expansion opportunities and reiterates its mid-term ambition of building a NOK 1 billion revenue company.

“The past six months have been marked by execution across multiple fronts, from product and company acquisitions to successful launches and impactful marketing initiatives. Several initiatives, such as the dne pharma acquisition, will take time to translate into our growth results but with a solid foundation and continued operational progress, we are well-positioned to realize our ambition of reaching NOK 1 billion in revenue,” Andreassen concluded.