Moberg Pharma AB (MOB.ST) today announced that Berlin-Chemie AG, a member of the Menarini Group – a top 40 global pharmaceutical company – has been granted the exclusive rights to market and sell Emtrix® in Russia and Ukraine.
The extended distribution agreement builds on an existing collaboration between Moberg and Menarini, which resulted in a successful launch of Emtrix® in Italy and most recently, the expansion to China and Southeast Asia where product launches have been initiated. The rights to Emtrix® in Russia were released from a previous distribution agreement with Meda AB. The product was not launched in Russia under the previous agreement.
Berlin-Chemie/Menarini is a leading regional biopharmaceutical company with full national coverage in Russia, a sales force with more than 700 sales representatives and a strong track record of launching and promoting Consumer Health brands. The global sales of the Menarini Group exceed 3.3 billion Euros. Russia and Ukraine comprise almost 200 million people and represent a significant long-term growth opportunity for Moberg Pharma.
“I am very pleased to expand our collaboration with the Menarini Group through this agreement with Berlin-Chemie – a leading marketer in Eastern Europe. The Russian market has significant long-term potential for Moberg’s products,” said Peter Wolpert, CEO of Moberg Pharma AB.
“We look forward to introducing Emtrix® to consumers in Russia. The product has potential to contribute strongly to our expansion within the Consumer Health market, as it provides rapid relief for a large segment of patients suffering from nail fungus”, said Michael Sirotovich, COO at Berlin-Chemie AG’s International Division.
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 8.30 am (CET) on February 9, 2015.
About Emtrix® and nail disease
Emtrix is a topical treatment used to treat nail disease. Launched in late 2010, it quickly became the market leader in the Nordics and recently also the best-selling product in its category in the U.S. The international launch is under way via a proprietary sales organization in the U.S. and ten partners that hold rights for 50 markets, including the major EU markets, China, Turkey and Russia. Emtrix is a prescription-free, over-the-counter product sold under the names Kerasal Nail®, Naloc™/Nalox™ and Emtrix®. Safety and efficacy have been demonstrated in several clinical studies including more than 600 patients. Emtrix has a unique and rapid mechanism of action which brings visible improvements within 2-4 weeks of treatment. Nail fungus is the most common nail disease. The condition afflicts approximately 10 percent of the population and is more common among the elderly. It is generally recognized that there is a need for new efficacious and safe topical treatments.
About Moberg Pharma
Moberg Pharma AB (MOB.ST) (MOB.ST) is a rapidly growing Swedish pharmaceutical company with a direct sales and marketing organization in the U.S. and an extensive distributor network in more than 40 countries. The company’s OTC portfolio includes the brands Kerasal®, Jointflex®, Kerasal Nail®, Domeboro®, Vanquish®, and Fergon®. Kerasal Nail®(Nalox™/ Emtrix®in certain markets outside the U.S.) is the leading product for the treatment of nail disorders in the U.S. and Nordic market. The strategy to expand the portfolio includes acquisitions and in-licensing, as well as internal development with a focus on innovative drug delivery of proven compounds. 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. For further information, please visit: www.mobergpharma.com.
About Menarini Group
The Menarini Group is the number one Italian pharmaceutical company in the world, 16th in Europe out of 5,291 companies, and 36th company in the world out of 19,042 companies, with a turnover of more than 3,3 billion Euro and more than 16,600 employees. The Menarini Group has always pursued two strategic objectives: Research and Internationalisation and is present in the most important therapeutic areas including products for cardiology, gastroenterology, pneumology/antibiotics, diabetology, antinflammatory agents/analgesics. With 14 production sites and 5 Research and Development centres, the Menarini Group has a strong presence throughout Europe and Asia, Africa, Central and South America. Menarini’s products are available in more than 100 countries worldwide. For further information please visit www.menarini.com.
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Moberg Pharma Extends Distribution Agreement with Menarini Group for Emtrix to Russia
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