8/28/2014 6:53:02 AM
STOCKHOLM--(BUSINESS WIRE)--Regulatory News: Moberg Pharma AB (MOB.ST) today announced that its head of U.S. operations, Steve Cagle, has announced his resignation. In order to secure a smooth transition, he will remain in his position until end of January 2015 at the latest.
"I am proud of the achievements during the last two years. We have almost doubled the net sales in the U.S. market and made Kerasal Nail® the leading OTC product for nail fungus related problems", said Steve Cagle.
"Steve and his team have made an excellent job in growing our U.S. business. Our U.S. sales outpaced the market and grew with 31% in the past 12 months. We have established a leading position in foot care, added additional brands through acquisitions and built a strong sales and marketing team. I would like to thank Steve for his great contribution to Moberg Pharma and wish him success when he pursues new career opportunities”, said Peter Wolpert, CEO of Moberg Pharma AB.
Steve Cagle has been part of the management team at Moberg Pharma since November 2012. The process to recruit a new head of Moberg’s U.S. subsidiary has been initiated.
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 08.00 am (CET) on August 28th, 2014.
About Moberg Pharma
Moberg Pharma AB (publ) (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™ in certain ex-U.S. markets) is the leading product for the treatment of nail disorders in the U.S. and Nordic market. The current portfolio will be supplemented by the acquisition and in-licensing of additional products as well as product 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 (MOB.ST) are listed on the Small Cap list of the NASDAQ OMX Nordic Exchange Stockholm. For further information, please visit: www.mobergpharma.com.
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