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
Disclosures and disclaimers