Navamedic applies for a listing
Lysaker - Navamedic ASA has applied for a listing on Oslo Børs, the Oslo stock exchange, and expects the application will be reviewed by the Board on March 29.
Navamedic is a Norwegian speciality pharmaceutical company focusing on the development and production of glucosamine HCl based medicines. Navamedic's product Glucomed® was approved by the Swedish Medical Products Agency as a medicine against osteoarthritis in August 2005. Glucosamine is the main product produced from chitin, and it is used to promote cartilage regeneration and healthy joints and tissues for the treatment of osteoarthritis (OA), a chronic disease afflicting 20% of all people above 40 years of age. OA is a damage or breakdown of the cartilage in the joints.
Glucosamine is a natural amino-saccharide already present in the human body. It is a building block in the structure of ligaments, cartilage and the fluids that surrounds the joints. Glucosamine belongs to a class of arthritis medication called symptomatic slow acting drugs for OA.