STOCKHOLM, Dec. 31, 2016, /PRNewswire/ -- Moberg Pharma AB (OMX: MOB) has now completed the previously announced acquisition of DermoPlast® from Prestige Brands, Inc pursuant to the terms announced on December 6th. The purchase price amounted to USD 47.6M plus stock value.
DermoPlast® is an anesthetic spray used externally for relief of pain and itching from skin chaps and skin injuries. DermoPlast® will be sold through Moberg Pharma's established sales channels in the U.S., via chain drugstores such as CVS, Walgreens and Rite Aid and in mass retailers such as Walmart and Target and directly to hospitals. The hospital sales are primarily focused on women, for usage on skin chaps and vaginal injuries and surgery in connection with or after childbirth.
Moberg Pharma financed the transaction with a combination of available cash resources and recently completed financing including a directed new issue of shares and an issue of corporate bonds.
DermoPlast® will be included among Moberg Pharma's strategic brands, and is expected to be the company's second largest product. It is expected that the brand, immediately following completion, will contribute positively to both the Moberg Pharma's profit and cash flow per share, also considering financing costs. For further information, please see the company's press releases dated December 6th, 2016 and December 7th, 2016.
Advisors
Hansen Law was engaged as legal advisor regarding the acquisition of DermoPlast®.
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 December 31st, 2016.
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Moberg Pharma completes acquisition of DermoPlast from Prestige Brands
CONTACT:
For additional information, please contact:
Peter Wolpert, CEO, Phone: +46 707 35 71 35, E-mail: peter.wolpert@mobergpharma.se
Anna Ljung, CFO, Phone: +46707 66 60 30, E-mail: anna.ljung@mobergpharma.se
Jeff Vernimb, GM Moberg Pharma North America, Phone: +1 (908) 420 9492, E-mail: jvernimb@mobergpharma.com
