MOBERG PHARMA INTERIM REPORT JANUARY – MARCH 2013

CONTINUED STRONG GROWTH - MOBERG DERMA BECOMES MOBERG PHARMA
FIRST QUARTER (JAN-MAR 2013)

  · Revenue MSEK 38.4 (31.0 including milestone payments of MSEK 14.3)
  · EBITDA MSEK -2.2 (8.0), profit of MSEK 0.9 excluding acquisition-related
costs
  · Operating loss MSEK 3.7 (profit: 7.9), loss of MSEK 0.6 excluding
acquisition-related costs
  · Net loss after tax amounted to MSEK 2.8 (profit: 38.0).
  · Loss per share SEK 0.25 (profit: 4.17)
  · Operating cash flow per share negative SEK 0.04 (negative: 1.07)

SIGNIFICANT EVENTS DURING THE FIRST QUARTER

  · In March, the company decided to discontinue the clinical development
program for Limtop.

SIGNIFICANT EVENTS AFTER THE END OF THE QUARTER

  · The Annual General Meeting held on April 23 resolved to change the company’s
corporate identity to Moberg Pharma AB (publ).
  · In May, the distribution agreement with Paladin Labs was extended to also
include Kerasal Nail™ in Mexico.

CEO COMMENTARY
Sales rose 129 percent compared with the first quarter of 2012. The sharp
increase resulted from the successful acquisition of our North American
operation, combined with strong organic growth. We took over a professional and
well-aligned organization and are highly satisfied with the organizations having
merged in accordance with schedule and budget. The milestones set prior to the
acquisition were surpassed. The acquisition entails a radically improved
opportunity to influence our revenues – proprietary sales in the US now account
for 41 percent of total sales, while distributors in the rest of the world
contribute 59 percent.

The tendency to treat nail discoloration increases as the sun-bathing and
swimming season approaches and we are continuing to capture market share. In the
U.S., we had a market share of 17 percent for the first quarter, compared with 5
percent a year earlier. Two factors made the higher market share in the U.S.
possible: excellent distribution and successful marketing. Kerasal Nail™ is sold
over the entire continent and is now available at 28,000 points of sale, at the
large chains of Walmart, CVS, Walgreens and Rite Aid, as well as large
wholesalers and a number of regional chains. Distribution through Duane Reade
(New York) and HEB (Texas) was expanded during the quarter. We continue to see
significant growth potential for Kerasal Nail™ in the U.S. market, and are
further increasing our marketing activities during the spring. Based on the
results of previous campaigns, we are convinced that these resources are well
invested. Our partners in other parts of the world are also intensifying their
marketing over the March to October period, which should impact sales figures.
Nalox™ is now being launched in Spain and Turkey and is sold in more than 25
markets. Launch preparations are being made at full intensity in Canada and
recently the agreement with Paladin was also expanded to Mexico.

This is the first interim report under our new company name Moberg Pharma. The
change of name was a natural step – the company has been broadened with the
acquisition of our U.S. operation and already encompasses products outside the
area of dermatology. Also, the new company name better corresponds to our
strategy of focusing on additional areas outside dermatology. Our focus on
pharmaceuticals based on proven compounds remains.

We see favorable opportunities for regeneration in our pipeline, despite
deciding to discontinue the development of Limtop in March. The ongoing Phase II
study for MOB015 is progressing according to plan. New product variations also
facilitate the continued growth of our existing brands; for example, Jointflex
ICE was recently launched at Walgreens in the U.S. We are continuing to work
intensively on evaluating products for acquisition and licensing. This year, I
expect that we will evaluate more than 100 business opportunities that will
hopefully lead to at least one new product.

The strong growth means that we are now in a situation where the level of
ongoing revenues is enabling profitability. For accounting purposes, earnings
for the first quarter were adversely affected by nonrecurring costs related to
the inventory revaluation in conjunction with the U.S. acquisition, which has
now been completed. We retain our full-year assessment of continued growth with
profitability, although some quarters may report figures in the red.

Peter Wolpert, CEO Moberg Pharma

TELEPHONE CONFERENCE
CEO Peter Wolpert will present the report in a telephone conference today at
10:00 a.m. (CET), May 21st, 2013.
Telephone: +46 (0)8-506 26 900 and submit the code 409017

ABOUT THIS INFORMATION
Moberg Pharma discloses the information provided herein pursuant to the
Securities Markets Act and/or the Financial Instruments Trading Act. The
information was submitted for publication at 8:30 am (CET) on May 21st, 2013.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Peter Wolpert, President and CEO of Moberg Pharma
Mobile: +46 70-735 71 35
E-mail: peter.wolpert@mobergpharma.se
Magnus Persson, IR
Mobile: +46 73-355 26 01
E-mail: magnus.persson@mobergpharma.se
For further information about Moberg Pharma, please visit: www.mobergpharma.com