STOCKHOLM–(BUSINESS WIRE)–Regulatory News:
Moberg Pharma AB (STO:MOB) has acquired Balmex®, a well-established Over-The-Counter brand in the U.S. from Chattem, Inc, the U.S. Consumer Healthcare Division of Sanofi. Net sales of the brand is trending on an annual rate exceeding $4 million. The purchase price is $3.9 million and financed by available cash resources.
Balmex® is an established and trusted brand among parents with products used for diaper rash, primarily in babies. An adult line for soothing skin irritations was launched in 2013. The brand will be sold through Moberg’s current OTC channel in the U.S, primarily in chain drugstores, such as CVS, Walgreens and Rite Aid and in mass retailers, such as Walmart as well as specialty retailers including Toys R’ Us and buybuyBABY.
“Adding Balmex to Moberg’s U.S. portfolio is a great fit, within our core area of topical dermatology. We are continuously evaluating deal opportunities to further leverage our U.S. sales and marketing infrastructure. This deal contributes immediately to our sales and earnings and to our long term financial goal of delivering profitable growth and an EBITDA margin of 25% from 2016”, said Peter Wolpert, CEO of Moberg Pharma AB.
“We see excellent opportunities to build on the brand equity of Balmex and utilize our Innovation Engine to further strengthen the future value proposition of the brand to consumers and retailers”, said Jeff Vernimb, GM of Moberg Pharma North America.
The transaction was completed April 24th, 2015.
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 8.00 a.m. (CET) on April 27, 2015.
About Moberg Pharma
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®, Jointflex®, Domeboro®, Vanquish®, and Fergon®. Kerasal Nail®(Emtrix®or Nalox™ in certain ex-U.S. markets) is a leading OTC treatment of nail disorders in the U.S., Canada and several EU markets and is currently being launched in 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 phase II assets, MOB-015 (onychomycosis) and BUPI (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). For further information, please visit: www.mobergpharma.com.
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Source: Business Wire Health