Novamedic and MD Pharmaceuticals Ink Distribution Agreement
Norwegian pharmaceutical company Navamedic and Singapore marketing group MD Pharmaceuticals signed a marketing and distribution agreement for Glucomed that covers Singapore, Hong Kong, Vietnam, Thailand and Indonesia.
The companies said they will start the application process for the approval of Glucomed as a treatment for osteoarthritis, with MD Pharmaceuticals handling the regulatory matters in each country.
Product launches in the individual countries are expected in 2009, the companies said.
In 2006, the market for pharmaceutical glucosamine in Thailand was approximately $12 million. The markets are not as developed in the other countries, according to the companies.