Navamedic has signed an agreement for the acquisition of Norwegian company dne pharma in a Nkr225m ($22m) deal.

This acquisition marks Navamedic's entry into the field of addiction treatment.

The deal includes an initial payment of Nkr185m upon closing, followed by two additional instalments totalling Nkr40m contingent on reaching certain sales volumes.

It will add a suite of products designed for addiction treatment, including Ventizolve (intranasal naloxone spray), Levopidon (levomethadone) and Metadon Dne (methadone).

Navamedic CEO Kathrine Gamborg Andreassen stated: “This acquisition gives us a strong strategic position in an important therapeutic area.

“Addiction treatment is a growing therapeutic area with significant impact on people’s lives, and dne pharma’s products align well with our mission to deliver high-quality products where they are most needed.”

In 2024, the business being acquired reported net sales of Nkr62m and is poised to play a significant role in helping Navamedic achieve its revenue target of Nkr1bn.

The addition is expected to enhance gross margins and contribute Nkr25m in earnings before interest, taxes, depreciation and amortisation (EBITDA) annually based on last year's sales figures.

The integration process will see the new products integrated into Navamedic's existing commercial platform.

Significant synergies are anticipated from this alignment within logistics, tender management and geographical presence.

To facilitate the acquisition financially, Navamedic has secured new debt funding amounting to Nkr110m from Nordea Bank Abp, along with a bridge loan that ensures swift completion ahead of an upcoming rights issue.

Finalisation of the transaction hinges on approval during a general meeting scheduled for 14 July 2025, with plans set for completion the following day. Should the approval not be granted, resulting in termination by Navamedic, dne pharma will receive Nkr5m.