STOCKHOLM--(BUSINESS WIRE)--Regulatory News:
Moberg Pharma AB (OMX: MOB) (STO:MOB) announces that the company has entered into an agreement with Strides Pharma Inc. to divest the brand PediaCare® for a total consideration of $5 million plus the inventory value at closing.
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. New Skin® was also the dominant profitability contributor in the acquired portfolio. The divestment of PediaCare® results in no capital gain or loss.
The transaction is expected to close within the next four weeks.
“We are pleased with the agreement with Strides which enables us to further focus on our strategic assets and M&A activities”, says Peter Wolpert, CEO Moberg Pharma.
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 8.00 a.m. CET on November 24th, 2016.
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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