RoundTable Healthcare Partners and Signet Healthcare Partners to divest its entire North American OTC operation in deal that includes a cash consideration of $155 million plus an additional consideration of $5 million. Moberg Pharma North American LLC, based in Cedar Knolls, NJ, sells drug store staples such as Kerasal nail and foot care products, Dermoplast topical pain relief products and New Skin liquid bandages.
In the most recent fiscal year, Kerasal Nail recorded its third consecutive year of double-digit growth in the US and in 2018 became ranked as the No. individual product in the nail fungus segment as well as in the entire foot care category, according to Moberg.
According to Moberg, the OTC-business generated sales of SEK 434 million (approximately $46.7 million dollars) in 2018.
The sale of the OTC unit will provide funding for development and commercialization of a product in Moberg’s pipeline called MOB-015, which the firm also announced it will commercialize with Bayer AG through a licensing deal.
RoundTable Healthcare Partners’ portfolio includes physician-dispensed Revision Skincare and Goodier Cosmetics.