Pronova BioPharma’s key product is the first omega-3 product to be approved as a pharmaceutical drug. The product is branded as Omacor worldwide, except in the United States where it is marked as Lovaza. Omacor and Lovaza is approved in the United States and in Europe for the treatment of elevated levels of triglycerides in humans, a condition known as hypertriglyceridemia, or HTG. HTG is a form of dyslipidemia, a disorder of lipid metabolism. It is also approved in Europe as secondary prevention after myocardial infarction – in the period following the initial survival of a heart attack, the post myocardial infarction period. Approximately 600,000 patients, in 40 countries, use the drug as a part of their therapy.

The production of Omacor begins with fish oil from South America. At the factory in Sandefjord, the fish oil is concentrated in an eight-step patented production process. The result is an active pharmaceutical ingredient (API) containing more than 90% omega-3 fatty acids and devoid of environmental toxins. Pronova BioPharma exports 99% of its products, primarily to Europe and the United States.

Pronova BioPharma has a strong research and development programme and has close collaborations with academic communities in Norway and abroad. Studies are carried out under the direction of Pronova BioPharma in collaboration with pharmaceutical partners and independent research communities. The objective is to achieve new indications for today’s product and to develop new pharmaceuticals. Clinical studies in more than 60,000 patients are completed or ongoing. Pronova BioPharma makes use of the Norwegian public support scheme SkatteFUNN and participates in a number of public research programmes.

The activities in which Pronova BioPharma is involved impose great demands on the expertise and experience of its staff. The company operates within a highly specialized sector and employs a large number of staff with a MSc or PhD in the pharmaceutical and biomedical field. The business concept and affiliated expertise are, along with the necessary technology, crucial to the success of the commercialization of pharmaceutical substances on a global scale.

In 2004 Pronova BioPharma received approval for Omacor in the United States, and has, during the period following the launch of the medicine in 2005, seen a very positive development in sales. The medicine is also well established in Europe, where there is a continued growing demand. Pronova BioPharma distributes the medicine through partners who are responsible for sales and marketing in their respective territories.

In 2005 Pronova BioPharma signed an agreement with the Japanese pharmaceutical company Takeda. Although the medicine will be subjected to new clinical trials and must be approved by the Japanese authorities before it is launched in the market, this is a market with a great potential.

In order to meet an increased market need worldwide Pronova BioPharma started in October 2007 the construction work of a new production plant in Kalundborg, Denmark which will double the API production capacity, an investment of NOK 1.45 to 1.70 billion.

The Future

The future prospects for Pronova BioPharma are very good and further expansion of its working staff, both at the head office in Lysaker, within R&D,  at the factory in Sandefjord, and for the new plant in Denmark, is anticipated.

• Product – Omega-3-derived medicine Omacor / Lovaza

• Ownership – Ferd Private Equity Fund bought the company from Hydro in 2004–2005. Since October 2007 Pronova BioPharma is listed at the Oslo Stock Exchange (ticker PRON)

• Finances and staff – The revenues for 2007 were NOK 1,014 million, with an operating result before depreciation and amortisation (EBITDA) of NOK 503 million. The company employs about 185 people.