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Redeye - Moberg Pharma: Back on growth track

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Recent USD 40 million acquisition of three OTC brands will return Moberg Pharma to growth and almost double US OTC business revenues. Following the acquisition, we have raised our estimates for revenues and profit. We expect Moberg to show profit growth again in 2H 2016. However, we have lowered our long-term view on the gross margin, reflecting the change in product mix.

All in all, our estimate changes have a positive impact on our base case fair value estimate. We expect to see increased investor interest in Moberg Pharma now that sales growth is anticipated to improve and key projects are advancing in development.

The full analysis in PDF-format: http://goo.gl/9eeaZ4

This is a press release from Redeye. Read more analysis at www.redeye.se

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