SINGAPORE--(BUSINESS WIRE)--Moberg Pharma AB (OMX: MOB) and Menarini Asia-Pacific, a member of the Menarini Group are pleased to announce that Menarini Asia-Pacific has been granted the exclusive rights to market and sell Kerasal Nail™ in eight Southeast Asian countries.
The extended distribution agreement builds on an existing collaboration between the two company groups, which resulted in a successful launch of the product in Italy and a previous extension of the distribution agreement for China. In Asia-Pacific, Menarini is a leading regional biopharmaceutical company with over 3500 employees in 13 markets and a strong track record in launching and promoting Consumer Health brands. The global sales of the Menarini Group exceed 3 billion Euros.
The extension includes eight Southeast Asian countries: Singapore, Taiwan, Indonesia, Philippines, Malaysia, Hong Kong, Thailand and Vietnam. The added countries represents a market of more than 550 million people in one of the fastest growing regions in the world and represent a significant long term growth opportunity for Moberg Pharma. According to IMS1, 45% of the global growth in self-medication up to 2016 will come from China and Southeast Asia.
“I am very pleased to announce this agreement which meets one of our targets for 2014 - to enter the rapidly expanding Southeast Asian market. We enter this exciting opportunity together with Menarini Asia-Pacific - an ideal partner in the region. The region has huge potential and the agreement will contribute to revenues and earnings already in 2014,” said Peter Wolpert, CEO of Moberg Pharma AB.
“We look forward to introducing Kerasal Nail™ to consumers in Southeast Asia. The product has potential to contribute strongly to our expansion within the Consumer Health market, being a compelling non-prescription product offering rapid visual improvement and an effective solution for patients with nail fungus problems,” said John A. Graham, CEO at Menarini Asia-Pacific.
About Kerasal Nail™ and nail disease
Kerasal Nail™ is a topical treatment used to treat nail disease. Launched in late 2010, it quickly became the market leader in the Nordics and recently also the best-selling product in its category in the U.S. The international launch is under way via a proprietary sales organization in the U.S. and ten partners that hold rights for 50 markets, including the major EU markets, China, Turkey and Russia. Kerasal Nail™ is a prescription-free, over-the-counter product sold under the names Kerasal Nail™, Naloc™/Nalox™ and Emtrix®. Safety and efficacy have been demonstrated in several clinical studies including more than 600 patients. Kerasal Nail™ 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. The condition afflicts approximately 10 percent of the population and is more common among the elderly. It is generally recognized that there is a need for new efficacious and safe topical treatments.
About this information
Moberg Pharma discloses this information pursuant to the Swedish Securities Markets Act and/or the Financial Instruments Trading Act. The information was submitted for publication at 08:30 am (CET) on February 14th, 2014.
About Moberg Pharma AB
Moberg Pharma AB (publ) is a rapidly growing Swedish pharmaceutical company with its own sales organization in the US and sales through distributors in more than 40 countries. The company’s OTC portfolio includes the brands Kerasal®, Jointflex®, Kerasal Nail™ Domeboro®, Vanquish®, Fergon® and Kaprolac®. Kerasal Nail™ (Nalox™ in many markets) is the leading product for the treatment of nail disorders in the U.S and Nordic market. The portfolio is developed further through acquisitions and in-licensing of products as well as product development with focus on innovative drug delivery based on proven compounds. Moberg Pharma has offices in Stockholm and New Jersey and the company’s share (OMX: MOB) is listed on the Small Cap list of the NASDAQ OMX Nordic Exchange Stockholm. For further information, please visit: www.mobergpharma.se.
About Menarini Asia-Pacific
Menarini is the world’s largest Italian biopharmaceutical company with a heritage of over 127 years and nearly 17,000 employees in over 100 countries. In Asia-Pacific, Menarini’s vision is to be a leading provider of important healthcare brands to improve the lives of people in the region. Menarini Asia-Pacific operates across the entire commercial value chain, from regulatory approval and product launch to lifecycle management with a diverse portfolio of proprietary and partnered brands in key therapeutic fields, including Consumer Health, Dermatology, Primary Care, Allergy/Respiratory, Cardiovascular, Oncology/Specialty Care and Men’s Health. For more information about Menarini Asia-Pacific, please visit www.menariniapac.com
1 AESGP 2012: Rising tide of OTC in Europe, IMS Health