Moberg Pharma completes divestment of PediaCare for $5.6 million
STOCKHOLM, December 20th, 2016. Moberg Pharma AB (OMX: MOB) announces that the company has completed the divestment of the PediaCare® brand to Strides Arcolab International Limited, UK for a total consideration of $5.6 million, whereof $0.6 million comprises inventory value.
Moberg Pharma’s strategy is to build value through profitable growth of strategic brands, to increase the value of pipeline assets and to make value-adding acquisitions.
Divesting PediaCare® enables Moberg Pharma to focus on its core business. The divested brand originated from an acquisition in July 2016 where the primary purpose was to acquire New Skin® - a strategic asset in specialty skin care. The divestment of PediaCare® results in no capital gain or loss.
Advisors
Hansen Law was engaged as legal advisor for the divestment of PediaCare®.
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 December 20th, 2016.
For additional information, please contact:
Peter Wolpert, CEO, Phone: +46 707 35 71 35, E-mail: peter.wolpert@mobergpharma.se
Anna Ljung, CFO, Phone: +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®, NewSkin®, Domeboro®and Fiber Choice®. Kerasal Nail®(Emtrix®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 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).
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