17 November 2021 - Deborah Wilkes
Galderma could be set for an Initial Public Offering (IPO), Moberg Pharma has reached an agreement with Allderma for the launch of MOB-015 in Denmark, Norway and Sweden, and Cambridge Nutraceuticals has appointed a distributor for Prime Fifty in Sri Lanka.
Galderma could be set for an IPO
Skincare specialist Galderma could be set for an Initial Public Offering (IPO) in the first half of 2022, according to the Financial Times newspaper.
Flemming Ornskov, Galderma’s chief executive officer, told the Financial Times that bankers had been appointed and a decision on the company’s future was imminent.
An IPO was one of many options, said Ornskov, adding that it was certainly a realistic one.
Ornskov noted that Galderma’s sales had hit USD3 billion in 2020 and were expected to reach USD3.5 billion in 2021.
Galderma, which has its headquarters in Switzerland, has Aesthetics, Consumer Care and Prescription Medicine businesses.
A consortium led by private-equity firm EQT and the Abu Dhabi Investment Authority (ADIA) acquired the Galderma business from Nestlé in October 2019 for CHF10.2 billion (USD11.0 billion). The purchase price represented 3.6-times the 2018 sales of the business of CHF2.8 billion (click here to read the News story).
Moberg strikes deal with Allderma
Moberg Pharma has reached an agreement with Allderma covering the launch of MOB-015 – Moberg’s novel topical terbinafine formulation for treating nail fungus – in Denmark, Norway and Sweden.
Under the terms of the agreement, Allderma will be responsible for marketing, distribution and sales in the three countries, while Moberg will be responsible for manufacture and delivery of the product. The agreement also includes co-financing of marketing activities and market-based financial terms.
Moberg said approval of MOB-015 in its home market of Sweden was expected in 2023.
The company noted that the deal with Allderma complemented the existing licensing agreement for MOB-015 in Europe.
Moberg announced in February 2019 that it had signed an exclusive European licensing agreement for MOB-015 with Bayer Consumer Health (click here to read the News story).
The company also has deals with Cipher Pharmaceuticals in Canada, DongKoo in South Korea and Taisho Pharmaceutical in Japan (click here to read the News story).
Swedish pharmaceutical company Allderma markets and distributes dermatology products in the Nordic region.
Cambridge Nutraceuticals appoints distributor
Cambridge Nutraceuticals has appointed Maxwell Healthcare as distributor for its Prime Fifty range of vitamins, minerals and supplements (VMS) in Sri Lanka.
The Prime Fifty range, which targets people over the age of 50 years, was acquired by Cambridge Nutraceuticals in 2020 (click here to read the News story).
Founded in the UK in 2012, Cambridge Nutraceuticals markets the FutureYou Cambridge VMS range. The company’s first product was Ateronon Heart based on lycopene.