Moberg Pharma completes divestment of three brands for $10.4 million
STOCKHOLM, April 4th, 2016. Moberg Pharma AB (OMX: MOB) announces that the company has completed the divestment of the Jointflex, Fergon and Vanquish brands to Strides Pharma Inc. for a total consideration of $10.4 million, whereof $0.4 million comprises inventory value.
Moberg Pharma’s strategy is to build value through profitable growth of strategic brands, increasing the value of pipeline assets and acquisitions. Completing the divestment of the three brands enables Moberg Pharma to focus on its core business.
About this information
Moberg Pharma discloses this information pursuant to the Swedish Securities Markets Act and/or the Financial Instruments Trading Act. The information was submitted for publication at 8:30 am (CET) on April 4th, 2016.
For additional information contact:
Peter Wolpert, CEO, Telephone: +46 707 35 71 35, E-mail: email@example.com
Anna Ljung, CFO, Telephone: +46 707 66 60 30, E-mail: firstname.lastname@example.org
About Moberg Pharma, www.mobergpharma.com
Moberg Pharma AB (publ) is a rapidly growing Swedish pharmaceutical company with OTC sales operations in the U.S. and a distributor network in more than 40 countries. The company’s portfolio includes the OTC brands Kerasal®, Kerasal Nail®, Balmex®, Domeboro®. Kerasal Nail® (Emtrix® or Nalox™ in certain markets) is a leading OTC treatment of nail disorders in the U.S., Canada and several EU markets and is currently being launched in Southeast Asia. The company is growing organically as well as through acquisitions. Internal development programs focuses on innovative drug delivery of proven compounds and include two clinical stage assets, MOB-015 (onychomycosis) and BUPI (pain management in oral mucositis). Moberg Pharma has offices in Stockholm and New Jersey and the company’s shares are listed on the Small Cap list of the NASDAQ OMX Nordic Exchange Stockholm (OMX: MOB).