STOCKHOLM, Feb. 28, 2018 /PRNewswire/ --
Moberg Pharma AB (OMX: MOB) has entered into an agreement
with Randob Labs to divest the brand Balmex® for a total
consideration of $4.25 million
(34.6 million SEK) plus the inventory
value at closing. The divestment is expected to result in a capital
gain of circa $0.5 million
(4.4 million SEK), enabling Moberg
Pharma to further focus resources on its larger brands.
The brand Balmex®, with a number of products for treating and
preventing diaper rash, was acquired from Chattem Inc. in April,
2015. The role of Balmex® in the product portfolio has reduced
after the 2016 acquisitions. Divesting the brand, enables Moberg
Pharma to focus resources on its larger and more profitable brands.
The brand generated net sales of $3.8
million (32.8 million SEK) in
2017.
The transaction is expected to close in April.
"We are pleased with the divestment. We have now successfully
divested most of our minor brands, enabling us to focus our
resources on growing our larger brands", says Peter Wolpert, CEO Moberg Pharma.
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 08:30 a.m.
(CET) on February 28th,
2018
For more information, please contact:
Peter Wolpert, CEO, phone: +1 908
432 22 03 (US), +46 70 735 71 35, e-mail:
peter.wolpert@mobergpharma.se
Anna Ljung, CFO, phone: +46 70 766
60 30, e-mail: anna.ljung@mobergpharma.se
This information was brought to you by Cision
http://news.cision.com
http://news.cision.com/moberg-pharma/r/moberg-pharma-divests-balmex--for--4-25-million,c2460302
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Moberg Pharma divests
Balmex® for $4.25 million
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SOURCE Moberg Pharma