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MOBERG PHARMA DIVESTS ITS OTC BUSINESS

February 20, 2019
February 20, 2019
Ben WIcks via Unsplash

Moberg Pharma AB has entered into an agreement with a holding company owned by RoundTable Healthcare Partners and Signet Healthcare Partners to divest Moberg Pharma’s entire OTC business for $155 million and an additional consideration of $5 million.

The transaction implies a multiple for the entire Moberg Pharma group of 3.3x sales and 11.6x EBITDA for commercial operations (14.1x EBITDA for total Moberg Pharma).

The Moberg Pharma’s entire Global Consumer Health Business comprises both direct and distributor sales under the over-the-counter brands Kerasal, Kerasal Nail, New Skin, Dermoplast, Domeboro, Emtrix, and Zanmira.

In the most recent fiscal year, Kerasal Nail recorded its third consecutive year of double-digit growth in the US, and in 2018 became ranked as the No. 1 individual product in the nail fungus segment as well as in the entire foot care category, according to Moberg.

Thomas Eklund, Chairman of the Board at Moberg Pharma said in a statement, “After a thorough process, the board is convinced that the proposed transaction is the most attractive and brings significant value to the shareholders. The combination of a premium consideration for the OTC-business, specialized US Healthcare investors entering at a premium valuation, while repaying outstanding debt, is highly attractive. Shareholders benefit from receiving a significant dividend while retaining the considerable upside of the MOB-015 program.”

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