Moberg Pharma completes divestment of Fiber Choice for $6.7 million
STOCKHOLM, August 28th 2017, Moberg Pharma AB (OMX: MOB) has completed the divestment of the Fiber Choice® brand to Caret Pharma LLC. for a total consideration of $6.7 million plus the inventory value. The divestment results in a capital gain of circa $1.6 million.
Divesting Fiber Choice® enables Moberg Pharma to further focus resources on its core businesses. The divested brand originated from an acquisition in 2016 where the primary purpose was to acquire New Skin® and Dermoplast®, two strategic assets in specialty skin care. This divestment of Fiber Choice® results in a capital gain of circa $1.6 million.
Advisors
Hansen Law was engaged as legal advisor for the divestment of Fiber Choice®.
About this information
This information is information that Moberg Pharma AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 8.30 a.m. CET on August 28th 2017.
For additional information, please contact:
Peter Wolpert, CEO, telephone: +46 70 735 71 35, e-mail: peter.wolpert@mobergpharma.se
Anna Ljung, CFO, telephone: +46 707 66 60 30, E-mail: anna.ljung@mobergpharma.se
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®, New Skin®, Dermoplast®and Domeboro®. Kerasal Nail®(Emtrix®, Zanmira®or Nalox™ in certain markets) is a leading OTC treatment of nail disorders in the U.S., Canada as well as in several markets in EU and Southeast Asia. The company is growing organically as well as through acquisitions. Internal development programs focus on innovative drug delivery of proven compounds and include two assets in late-stage clinical development, 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).
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