Moberg Pharma Completes Divestment of Balmex® for $4.25 million

STOCKHOLM, April 27, 2018 /PRNewswire/ --  Moberg Pharma AB (OMX: MOB) has completed the divestment of the Balmex® brand to Randob Labs for a total consideration of $4.25 million plus the inventory value. The divestment results in a capital gain of circa $0.5 million.

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 in 2017.

Advisors

Hansen Law was engaged as legal advisor for the divestment of Balmex®.  

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 8.30 a.m. CET on April 27th, 2018.

For additional information, please contact:
Peter Wolpert,
CEO,
telephone: +1-908-432-22-03
(US), +46-70-735-71-35
e-mail: [email protected]

Anna Ljung,
CFO,
telephone: +46-707-66-60-30,
e-mail: [email protected]  

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SOURCE Moberg Pharma