Moberg Pharma nails Asian foothold with flagship product
Swedish speciality pharmaceutical company Moberg Pharma has brought its flagship product, Kerasal Nail, to China, capitalising on the brand's strong market acceptance in Europe, Canada and the United States. "We're getting a very positive response, confirming that our product satisfies a huge unmet need in Asia," says Peter Wolpert, founder and CEO.
The China launch in May was initiated by the company's partner Menarini Asia-Pacific, which oversaw the introduction of Kerasal Nail in Malaysia, Singapore and Hong Kong months earlier. A roll-out in Indonesia followed in August, with planned launches in additional markets over the next six to 12 months.
Based on a novel formulation of proven compounds, Kerasal Nail (Emtrix or Nalox/Naloc in certain markets) is an over-the-counter (OTC) topical treatment for onychomycosis or fungal nails.
Apart from Kerasal Nail, Moberg's portfolio comprises five other OTC brands. Kerasal, JointFlex, Domeboro, Vanquish and Fergon address the niche areas of foot care, dermatology and topical pain management. Moberg further expanded its product suite with the acquisition in April of Balmex, a well-known diaper rash cream brand in the US. Today, the company's products are available in more than 40 countries via an extensive distribution network and a direct US sales organisation.
With innovation at its core, Moberg is moving forward with the Phase III development of prescription product MOB-015. Based on the same nail-penetrating platform technology used in Kerasal Nail, MOB-015 topically delivers the anti-fungal terbinafine as treatment for onychomycosis. Moberg is also pursuing the clinical development of a bupivacaine lozenge for treating oral pain in oral mucositis patients.
"We welcome strong financial and industrial partners to help us bring to market products that make a tangible difference on people's quality of life," Wolpert says. "Although we've been under the radar, several leading US investors recently started to invest in the company. We hope to attract more international investors."
On the small-cap list of the Nasdaq OMX Nordic Exchange Stockholm, Moberg has a market capitalisation of US$100 million.