Moberg Pharma reorganizes its commercial operations
STOCKHOLM, November 30th, 2017 - Moberg Pharma AB (OMX: MOB) is reorganizing its sales and marketing operations to better reflect the company’s increased focus on the North American market and to maximize global synergies. A global Consumer Health unit will be established to manage Moberg’s direct and distributor sales. Jeff Vernimb, currently General Manager North America, has been appointed VP Global Consumer Health.
Direct sales in North America currently account for 90% of the company’s total revenue. To better reflect this development in its commercial operations, Moberg Pharma will now establish a global sales and marketing unit that includes both direct and distributor sales. Jeff Vernimb, currently General Manager North America, has been appointed VP Global Consumer Health, in charge of global sales and marketing of Moberg Pharma’s OTC brands. Under Jeff’s management, North American sales have more than doubled in the past three years to USD 46 million (12 months ending September 30th, 2017).
Coordinating management of the commercial Consumer Health operations on a global basis enables more direct sharing of consumer insights and market learning, while maximizing synergies as we seek to build out our current OTC portfolio and progressing toward the commercialization of MOB-015. As part of this change, Martin Ingman will be leaving Moberg Pharma and the management team. During his nine years with the company, Martin has led the work of establishing distributor sales in around 40 countries and has been highly esteemed by co-workers and partners. The new Consumer Health unit will be implemented this winter and Martin will remain in the company during the transition.
“The new organization better reflects the company’s increased focus on the North American market and to progress toward the commercialization of MOB-015, while also enabling synergies in the global sales operations. I would like to thank Martin Ingman for the important work he has done for the company and wish him all the best in the future,” says Peter Wolpert, CEO of Moberg Pharma AB.
About this information
Moberg Pharma AB is obliged to make this information public pursuant to the EU Market Abuse Regulation (MAR). The information was submitted for publication, through the agency of the contact person set out above, at 1:00 p.m. (CET) on November 30th, 2017.
For more information, please contact:
Peter Wolpert, CEO, phone: +46 70 735 71 35, +1 908 432 22 03 (US), e-mail: peter.wolpert@mobergpharma.se
Anna Ljung, CFO, phone: +46 70 766 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).
Tags: