MOBERG DERMA YEAR–END REPORT 2011

STRONG REVENUE GROWTH AND SIGNIFICANTLY IMPROVED EARNINGS

FULL YEAR (JAN-DEC 2011)
•    Net sales MSEK 55.9 (8.5)
•    Research and development expenses MSEK 26.8 (19.0)
•    Operating loss MSEK -7.6 (-30.1)
•    Net loss after tax SEK -6.4 (-31.0)
•    Earnings/loss per share SEK -0.82 (-5.08)
•    Operating cash flow per share SEK -0.99 (-4.97)
•    The board proposes that no dividend will be paid for the 2011 financial year

FOURTH QUARTER (OCT-DEC 2011)
•    Net sales MSEK 20.5 (5.4)
•    Research and development expenses MSEK 7.3 (6.1)
•    Operating profit MSEK 3.8 (-9.0)
•    Net profit after tax MSEK 4.4 (-9.0)
•    Earnings/loss per share SEK 0.49 SEK (-1.46)
•    Operating cash flow per share SEK 1.84 SEK (-1.78)

SIGNIFICANT EVENTS DURING THE FOURTH QUARTER
•    The license agreement with Meda AB for Nalox™ was expanded to include Russia, Turkey and countries in Eastern Europe. At the year-end, the agreement encompassed a total of 22 countries and some 550 million inhabitants
•    Distribution agreement with Menarini Group for marketing Nalox™ in Italy
•    Moberg Derma terminated its distribution agreement for Canada, regaining all rights to Nalox™
•    The preclinical development program for A-Fizz was discontinued
•    Moberg Derma received a MSEK 4 research grant from Vinnova to develop the drug candidate Limtop

SIGNIFICANT EVENTS AFTER THE QUARTER
•    Analysis of data implied that additional studies may be required for MOB-015 before outlicensing

CEO COMMENTARY
We experienced tremendous development during the last 12 months with strong revenue growth and significantly improved earnings. We ended the year with yet another strong quarter reporting profit and a positive cash flow, thereby reinforcing our position as a growth company with a strong sales focus. We were also successful in surpassing our two most important goals for the year – engaging distributors for Nalox™ in additional markets and generating robust revenue growth.

Partnerships are critical to Moberg Derma’s success. This year we expanded our collaboration with our most important partner – Meda OTC – to markets representing a total of around 550 million inhabitants. Furthermore, by entering into an agreement with Menarini, we now have two of the world’s 50 largest pharmaceutical companies as partners. Another key relationship is our collaboration with Alterna in the United States, through which Moberg Derma’s product is now being distributed through leading drugstore and retail chains - CVS, Rite-Aid and Walmart.

In total, we have eight partners covering a number of markets, of which the most important are the Nordic region, the ‘big-five’ EU countries, as well as the U.S., Russia, Turkey and Australia. We are very active in collaborations with distributors and during the year we have regained rights in certain markets where the partnership did not meet our expectations.

Nalox™ strengthened its market-leading position in the Nordic region, with commercial success generating strong growth during the year. The Nordic countries represented almost 80% of product sales revenues. Product launches in other countries are currently ongoing or are planned going forward, generating potential for international expansion and continued strong growth. Thanks to robust sales growth for Nalox™ and milestone payments from Meda, we have reported a profit for the past two quarters, as well as a positive cash flow since listing on Nasdaq OMX Stockholm.

Our aim is to expand our product portfolio and further develop our sales and marketing organization. Our current drug development projects will take some years to reach commercialization. Consequently, we are exploring other opportunities to gain access to products.

Following the commercial success of 2011 and a strong financial position, I look forward to the coming year with great confidence.

 Peter Wolpert, CEO


TELEPHONE CONFERENCE
CEO Peter Wolpert will present the report in a telephone conference today at 10.45 CET, February 9th 2012. Telephone: +46 8-50626900, enter code 409017

ABOUT THIS INFORMATION
Moberg Derma discloses the information provided herein pursuant to the Securities Markets Act and/or the Financial Instruments Trading Act. The information was submitted for publication at 8:00 am (CET) on February 9th, 2012.

FOR FURTHER INFORMATION, PLEASE CONTACT:
Peter Wolpert, President and CEO of Moberg Derma
Mobile: +46 70-735 71 35
E-mail: peter.wolpert@mobergderma.se

Magnus Persson, IR
Mobile: +46 73-355 26 01
E-mail: magnus.persson@mobergderma.se

For further information about Moberg Derma, please visit: www.mobergderma.com

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