Moberg Pharma: Plenty of value

Research Update

2018-03-19

07:30

The OTC business continues to deliver solid performance, in-line with our expectations. Due to divestments, revenues are expected to decline this year. Still, the three prioritized brands (Kerasal Nail, Dermoplast and New Skin), representing more than 90% of estimated revenues, are expected to display growth in 2018 (+3%), despite significant exchange rate headwind. Following the 4Q17 report, we have made only modest changes to our estimates (adjusted for the divestment of Balmex).

KP

Klas Palin

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