0 Corporate Presentation – August 29, 2013 Peter Wolpert, CEO and Founder Moberg Pharma AB A DIFFERENT KIND OF PHARMA COMPANY
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Corporate Presentation – August 29, 2013
Peter Wolpert, CEO and Founder
Moberg Pharma AB A DIFFERENT KIND OF PHARMA COMPANY
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Disclaimer
1
Statements included herein that are not historical
facts are forward-looking statements. Such forward-
looking statements involve a number of risks and
uncertainties and are subject to change at any time.
In the event such risks or uncertainties materialize,
Moberg Pharma’s results could be materially
affected.
The risks and uncertainties include, but are not
limited to, risks associated with the inherent
uncertainty of pharmaceutical research and product
development, manufacturing and commercialization,
the impact of competitive products, patents, legal
challenges, government regulation and approval,
Moberg Pharma’s ability to secure new products for
commercialization and/or development and other
risks and uncertainties detailed from time to time in
Moberg Pharma’s interim or annual reports,
prospectuses or press releases.
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Overview and Q2 update
Market & Products
Direct sales in the U.S.
Distributor Sales
Innovation Engine & Growth strategy
Organic and M&A
Content
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Experienced management and board
Management
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Anna Ljung
CFO Gustaf Lindewald Torbjörn Koivisto
Board
Peter Rothschild Peter Wolpert
CEO and Founder
Peter Wolpert
CEO and Founder Mats Pettersson
(Chair)
Wenche Rolfsen Geert Cauwenbergh George
Aitken-Davies
Steve Cagle
VP North America
Kjell Rensfeldt
VP R&D
Martin Ingman
VP Sales &
marketing, ROW
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Share price (+24%) and trade volumes increased since
IPO May 2011
Moberg Pharma
OMXSPI
Analysts
Klas Palin, Redeye
Johan Löchen, Remium
Market Cap Aug 27, 2013
430 MSEK
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Shareholders by June 30, 2013
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Bure Equity invested 36 mkr in July (9.1%)
Strong incentives for Management and Board through Equity and Stock Options
Stock Options* to employees: Ca 6% of total shares
* Sw: Personaloptioner
Name No of shares Capital and votes, %
Östersjöstiftelsen 2 274 179 21,0
Six Sis Ag, W8imy 1 816 510 16,8
Jpm Chase Na (Altaris Capital Partners) 825 652 7,6
Wolco Invest AB 600 000 5,5
Försäkringsaktiebolaget, Avanza Pension 585 305 5,4
Mobederm AB 530 341 4,9
Tredje AP-Fonden 486 000 4,5
Handelsbanken Fonder AB Re Jpmel 468 868 4,3
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Rapid growth under profitability with
Nalox™ as key growth driver
Products based on innovative drug
delivery of proven molecules
Direct sales in the U.S.
Network of distributors/partners in RoW
Growth strategy – Organic and M&A
Moberg Pharma A DIFFERENT KIND OF PHARMA COMPANY
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Rapid growth 2010 – 2013, SEK
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2010 2011 2012 2013 H1
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Continued strong topline growth
– Kerasal Nail™ now best selling product in its
category in the U.S.
– Majority of revenues from proprietary sales
Increased product distribution
– New distribution agreements for China (Menarini)
and Mexico (Paladin)
– Additional U.S. retail chains, including Target,
Meijer and Hannaford
Solid platform for increased growth
– Rights issue to Bure Equity (in July)
– Evaluation of acquisition and in-licensing
opportunities ongoing.
Second quarter highlights
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Sales increase owing to successful acquisition and strong
organic growth
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107% GROWTH IN
PRODUCT SALES
Q2 2012 Q2 2013
*
*Revenues Q2 2012 includes milestones of 2,8 MSEK
Net Sales, MSEK
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Successful marketing and expanded distribution drive sales of
Nalox™/Kerasal Nail™
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51% GROWTH IN
NALOX™/KERASAL NAIL™ PRODUCT
SALES
Q2 2012 Q2 2013
Kerasal Nail™ – U.S. market share
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Continued growth and increased financial strength
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Significant events during and after the reporting period
Moberg Derma became Moberg Pharma
Kerasal Nail™ distribution agreements expanded to Mexico (Paladin) and China (Menarini)
Patient enrollment completed in clinical study of MOB-015
Private placement of MSEK 36 to Bure Equity in July
- Cash position June 30 32.5
Apr-Jun Apr-Jun Jan-Jun Jan-Jun
(MSEK) 2013 2012 2013 2012
Revenues
- Product sales
- Milestones
44.9
44.9
-
24.5
21.8
2.8
83.4
83.4
-
55.5
38.5
17.0
EBITDA -5.1 1.4 -7.3 9.4
- Operating profit -6.6 1.4 -10.3 9.3
- Earnings after Tax -4.3 1.4 -7.0 29.4
- Earnings per Share (SEK) -0.39 0.15 -0.65 4.32
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Majority of revenue from proprietary sales
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Sales via distributors
45% Proprietary
sales 55%
JointFlex 17%
Nalox/ Kerasal Nail
69%
Kerasal 14%
RoW 8%
Europe 36%
America 54%
Channels Products Geography
Distribution of revenue, Jan - June 2013
Market & Products
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20BUSD PHARMA SALES DERMATOLOGY
4BUSD DERMA ANTIINFECTIVES
46% U.S. SHARE OF GLOBAL MARKET
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Portfolio of established and growing brands
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Product Indication Market presence
Nalox™ Nails damaged e.g. by
Nail Fungus
Proprietary sales in the U.S.
Launched by 10 partners in 25 markets Kerasal Nail™
Kerasal® Dry Feet, Cracked Heels,
Foot Pain
Proprietary sales in the U.S.
Launched by 13 partners in 15 markets
JointFlex® Joint and muscle pain
Proprietary sales in the U.S.
Launched by 14 partners in 20 markets
Direct Sales
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Moberg Pharma North America LLC
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Building effective niche consumer healthcare brands
Principal brands:
- Kerasal® (foot care)
- Kerasal Nail® (US brand for Nalox™)
- JointFlex® (arthritis pain)
Customers include major U.S. retailers,
e.g. CVS, Walgreens, Rite Aid and Walmart
®
U.S market presence
Growing brands
Platform for further acquisitions
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Effective model for Direct Sales in the US
Retailers/
Wholesalers Sales Force
Contract
Manufacturers
Logistics
Sales and marketing
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Damaged nails – an underserved market
Growing prevalence, more frequent in
elderly(1)
Causes embarrassing nail appearance:
– Thickened nails
– Yellow, green color
– Dry, brittle, cracked
Safety risk with oral prescription products
OTC anti fungal products cannot
penetrate the nail (as FDA requires them
to state on package)
6 – 12 months required for any results
only when the nail grows out
(1) Gupta, et al, 1997.
(2) IRI data, OTC packages sold in 2012, Drug, Mass and Food channels
(3) Kerasal Nail Concept Test; Persuadable Research Corporation, 2011, n = 500
30-40m AMERICANS WITH NAIL FUNGUS
1)
44% OF U.S. CONSUMERS DISSATIS-FIED WITH CURRENT OTCs
3)
5m PACKAGES SOLD IN U.S. 2012
2)
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Available at 30 000 points of sale
Distribution added through Target,
Meijer and Hannaford
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10% 19% market share increase last 12 months
Kerasal Nail™ – Best selling product in its category
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Kerasal Nail now best selling product in its category in the
U.S. with 19% market share
Source, IRI: Nail fungus OTC category – Retail Dollar Sales Multi-Outlet, 4 week periods in 2012-13
Kerasal Nail Retail Sales, USD and Market share, %
0%
6%
12%
18%
24%
$0
$200 000
$400 000
$600 000
$800 000
$1 000 000
$1 200 000
$1 400 000
Kerasal Nail $ Sales Kerasal Nail % of Category Linjär (Kerasal Nail % of Category)
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Linear
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23 Source: Retail Sales Food/Drug/Mass excluding Walmart 12 Weeks Ending October 7, 2012 as reported by IRI.
#2-10 BRAND POSITION IN THREE SELECT NICHES
®
®
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In over 15,000 stores from Sept 2013 -
- 3,800 Walmart stores
- CVS, Walgreens, and Rite Aid
Ca 30 million Americans experience
frequent foot pain1. Many simultaneously
suffer from cold feet and dry skin.
Associated with diabetes, fibromyalgia,
arthritis, joint pain, muscle strain or trauma.
Triple action formula that relieves foot pain,
warms cold feet, and moisturizes dry skin.
Active ingredients: capsaicin and camphor,
Fusome® - skin delivery system
Launch of Kerasal® NeuroCream at Walmart and major U.S.
drugstores in September 2013
1 The population prevalence of foot and ankle pain in middle and old age: a systematic review. Thomas et al, Pain 2011 Dec
Distributor Sales
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Distributor Sales in more than 40 markets
Share of H1 Sales
No of markets sold in
Main territories
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®
45%
EU, CANADA,
MIDDLE EAST
AND AUSTRALIA
>40
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Continued international roll-out
Nalox™
Available in >25 markets
European growth affected by
intensifying competition, strong sales in
e.g. Nordics, France, Italy and the
Netherlands
Launch preparations at full intensity in
Canada
Distribution agreements expanded to
Mexico (Paladin) and China (Menarini)
Preparations for Chinese market
approval will begin shortly
Note: Not an all inclusive list.
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Innovation Engine
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Strong financial platform facilitates portfolio expansion
Rights issue pursuant to AGM
authorization
Private placement to Bure Equity
generated MSEK 36 before issue costs
(in July)
Aimed at facilitating acquisitions and
licensing of marketed products, as well
as strengthening pipeline assets
Bure is now the third largest
shareholder
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Organic growth
Current products growing, line extensions
Launches in new markets
8 patent families enable additional products
- MOB-015
- Non-clinical programs >100 NEW BUSINESS OPPORTUNITIES TO BE EVALUTED 2013
Acquisitions/inlicensing
Products - Focus on US OTC market
Projects and technologies
Interest areas for BD/Development:
- Derma indications, e.g. Acne,
Psoriasis, Pigmentation disorders
- Select other indications
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MOB 015 generates high TBF concentrations in nail
Phase II trial ongoing
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Target profile for MOB-015
Low Medium High
High
Medium
Low
Efficacy
Existing
tablets MOB-015
Nalox™
Existing
topicals
Safety
Source: Hui, Maibach et al, Drug Development and Industrial Pharmacy, 2012; Franz cell experiments with human nail;
Amount TBF in the deeper part of the nail plate
** Schatz F, et al; Clin Exp Dermatol, 1995 Sep;20(5):377-83
Terbinafine concentration in human nail, µg/g nail
0,5
> 613
Oral terbinafine therapy** MOB-015*
Building a different kind of pharma company
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Building A DIFFERENT KIND OF PHARMA COMPANY
Continued strong product demand – Kerasal® Nail™
now top selling U.S brand in its category
Expanded distribution network in the U.S.
Majority of revenues from proprietary sales
Larger geographical reach – new agreements for
China and Mexico
Strengthened financial position
Evaluation of acquisition and in-licensing
opportunities at an advanced stage
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