STRONG START FOR EUROPEAN LAUNCH - ALL MILESTONES EXPECTED IN 2012
Moberg Derma (STO: MOB) expects to reach all remaining milestones in its agreement with Meda related to Nalox™ in 2012, generating a further MSEK 15.5. This assessment is based on a successful launch in several markets in Europe, including Germany and France.
The launch of Nalox™ in Europe is progressing according to plan and it is expected that the remaining milestones in the agreement with Meda will be reached in 2012. To date, a total of MSEK 38.5 in milestone payments have been received, in addition to payments for delivered products, with a total of MSEK 15.5 in milestone payments remaining. In Italy, Menarini’s launch of the product also kicked off according to plan.
“We are very pleased with the powerful product launches that are being rolled out in Europe in collaboration with Meda and Menarini. The market introductions have progressed well, generating strong sales,” says Peter Wolpert, CEO and founder of Moberg Derma.
Since 2010, Moberg Derma has collaborated with Meda on the sales and marketing of Nalox™ in the Nordics, where the product is the market leader. During the second half of 2011 the agreement was expanded to include many European markets, including Germany, France, Spain, UK, as well as Russia and Turkey. In total, Meda’s rights related to Nalox™ comprise a total of 22 countries, representing some 550 million inhabitants. In Italy, Moberg Derma has a similar collaboration with Menarini, which like Meda is among the world’s 50 largest pharmaceutical companies.
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 on at 8:30 am (CET) on August 16th, 2012.
About Nalox™ and nail diseases
Nalox™ is a topical treatment used to treat nail disease. Launched in the Nordic region in autumn 2010, it quickly became market leader and an international launch is ongoing via ten partners encompassing 50 markets and a million inhabitants. Nalox™ is a prescription free, over-the-counter product sold under the names Emtrix®, Naloc™ and Kerasal® Nail in certain markets. Safety and efficacy have been demonstrated in several clinical studies including more than 600 patients. Nalox™ has a unique and rapid mechanism of action which brings visible improvements within 2-4 weeks of treatment. Nail fungus is the most common nail disease and afflicts approximately 10% of the general population and increasing with age. The estimated global market potential exceeds USD 1 billion. The untapped potential is significant since many patients remain untreated. It is generally recognized that there is a need for new efficacious and safe topical treatments.
For further information, please contact:
Peter Wolpert, President and CEO
Mobile: +46 735 71 35
E-mail: peter.wolpert@mobergderma.se
Magnus Persson, IR
Mobile: +46 73-355 26 01
E-mail: magnus.persson@mobergderma.se
About Moberg Derma
Moberg Derma AB (publ), based in Stockholm, develops patented topical pharmaceuticals for the treatment of common disorders through the use of innovative drug delivery. The company’s products are based on proven compounds, which reduce time to market, development costs and risk. Moberg Derma’s first product Nalox™/Emtrix® - for nail disorders - became the Nordic market leader directly after launch in autumn 2010 and international launch is ongoing. The portfolio includes approved and launched products to projects in the preclinical and clinical phase. The share of Moberg Derma is quoted on the Small Cap list of the NASDAQ OMX Nordic Exchange Stockholm. For further information, please visit: www.mobergderma.com
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