Moberg Pharma granted exclusive rights to market Kerasal Nail in China

Jul 22 2013

Moberg Pharma AB (STO:MOB) today announced that Menarini Asia-Pacific, a member of the Menarini Group - a top 40 global pharmaceutical company - has been granted the exclusive rights to market and sell Kerasal Nail™ in China. The companies now intend to seek marketing authorization for the product in the Chinese market.

Kerasal Nail™ (Nalox® or Emtrix® in certain markets) is a non-prescription product for the treatment of discoloured and deformed nails resulting from fungal infection or psoriasis, with a unique mechanism of action that generates visible improvements within 2-4 weeks of treatment. The product became the market leader in the Nordic region immediately after launch in 2011 and has been launched in more than 25 countries, including the U.S. where it has a leading position.

The extended distribution agreement builds on an existing collaboration between the two company groups, which resulted in a successful launch of the product in Italy. In Asia-Pacific, Menarini is a leading regional biopharmaceutical company with over 3500 employees in 13 markets and a strong track record in launching and promoting Consumer Health brands. The global sales of the Menarini Group exceed 3 billion Euros.

China, being the world's second largest economy after the US, represents a significant long term growth opportunity for Moberg Pharma. The Chinese pharmaceutical market is projected for continued robust growth and is expected to become the second largest pharma market after the U.S. within five years. According to IMS, 45% of the global growth in self-medication up to 2016 will come from China and South East Asia.

"We are excited by the opportunity to enter the huge and rapidly expanding Chinese market. There are challenges related to China's sheer size, business complexity, regulatory environment and infrastructure. With its profound understanding of local market conditions, Menarini Asia-Pacific is an ideal partner in this region. The extended agreement enables us to build on our successful commercial track record together with Menarini", said Peter Wolpert, CEO of Moberg Pharma AB.

"We look forward to introducing Kerasal Nail™ to Chinese consumers. The product has potential to contribute strongly to our expansion within the Consumer Health market, being a compelling non-prescription product offering rapid visual improvement and an effective solution for patients with nail fungus problems", said John A. Graham, CEO at Menarini Asia-Pacific.

SOURCE Moberg Pharma AB