Amring Pharmaceuticals Inc. Announces Name Change to Nordic Pharma, Inc. Under New Nordic Group, B.V. Ownership

Amring Pharmaceuticals Inc. ("Amring") announces its name change to Nordic Pharma, Inc. on March 4, 2024, following the change in ownership of the company from SEVER Life Sciences, B.V. to Nordic Group, B.V., a subsidiary of SEVER Life Sciences B.V., which occurred on June 1, 2023.

The change in the corporate name provides for better alignment strategically with the parent company headquartered in the Netherlands and its subsidiaries worldwide. Together, the companies look to expand the global footprint in Eye Care, Rheumatology, Woman's Health, and Critical Care for branded products as well as strengthening their generic product business in the U.S.

As part of this growth strategy, Nordic Pharma recently acquired Visant Medical, Inc., a leader in medical technology innovation in Dry Eye Disease (DED). The acquisition included the FDA cleared hyaluronic acid derivative LACRIFILL® canalicular gel, which is intended to temporarily block tear drainage by the occlusion of the canalicular system. Nordic Pharma will be launching LACRIFILL in the U.S. in Q2 2024 followed by a global rollout.

Charlotte Phelps, CEO of Nordic Pharma said, "The strategic acquisition and merger of the US business unit is a cornerstone of Nordic Pharma's global expansion. With a range of ophthalmology products currently in phase II development, combining this with our existing assets and leveraging the expertise of our US leadership in ophthalmics is imperative for driving the success of these programs."

"I'm excited to be leading Nordic Pharma U.S. at this dynamic stage of the company as we continue focusing on providing quality generics to our customers and their patients in the U.S. while building out an innovative proprietary ophthalmic business," said Philip Gioia, President of Nordic Pharma U.S. "The timing could not be better as new ophthalmic innovations are becoming near-term ready for commercialization and I believe Nordic Pharma can capitalize and compete effectively as a newer specialty ophthalmic player in the U.S. and globally."

About Nordic Group B.V.
Nordic Group, B.V. is a privately owned, medium-size international pharmaceutical company which focuses on the development and commercialization of specialty products. Portfolio enhancement has been accomplished through targeted developments and focused acquisitions to build a foundation in Eye Care, Rheumatology and Women's Health. Nordic Pharma has established deep roots throughout Europe, and more recently, expanded outside of Europe with increased acquisitions worldwide.

Nordic Pharma is a part of SEVER Life Sciences, B.V., a holding company created in 2019 that brings together three diverse but complementary companies that offer a wide range of products, pharmaceutical development services and delivery technologies.

About Nordic Pharma, Inc.
Nordic Pharma, Inc., subsidiary of Nordic Group B.V., is partnered with well-established global biopharmaceutical companies and is uniquely positioned to leverage its expertise in bringing biotechnology derived medicines, sterile manufacturing and other state-of-the-art technologies to the marketplace.

Safe Harbor
This press release contains forward-looking statements, including, without limitation, statements related to Amring/Nordic Pharma's business developments and the implementation of Amring/Nordic Pharma's strategic initiatives. Because these statements reflect Amring/Nordic Pharma's current views, expectations and beliefs concerning future events, these forward-looking statements involve risks and uncertainties that could cause actual developments and results to differ materially from Amring/Nordic Pharma's expectations. These factors include, but are not limited to, general market conditions, regulatory trends, changes in the financial conditions of third parties dealing with Amring/Nordic Pharma, and other factors that could affect Amring/Nordic Pharma's business and financial performance. Amring/Nordic Pharma does not assume any obligation to publicly update any forward-looking statements, whether as a result of new information, future developments or otherwise.