MOBERG DERMA INTERIM REPORT JANUARY - MARCH 2012

CONTINUED STRONG GROWTH AND PROFITABILITY
FIRST QUARTER (JAN-MAR 2012)

  · Revenue MSEK 31.0 (5.5)
  · Research and
development expenses MSEK 7.9 (6.6)
  · Operating profit MSEK 7.9 (-6.7)
  ·
Net profit after tax MSEK 38.0 (-6.7)
  · Earnings per share SEK 4.18 (-1.09)
· Operating cash flow per share SEK -1.07 (-0.53)

SIGNIFICANT EVENTS DURING
THE FIRST QUARTER

  · Moberg Derma expects full year of profitability in 2012
already. As a result, financial goals have been updated
  · Analysis of data
implied that additional studies may be required for MOB-015 prior to phase III
trial
  · A clinical phase I trial on Limtop commenced after authorization from
German medical products agency
  · Distribution agreement with Pharmaplan (Pty)
Ltd for marketing Nalox™/Emtrix® in South Africa
  · Management team
strengthened with Lena Pereswetoff-Morath
  · Capitalization of deferred tax
assets resulted in a positive impact first quarter 2012 by SEK 29.6 million
  ·
Geert Cauwenbergh proposed as new Board member to the 2012 Annual General
Meeting

SIGNIFICANT EVENTS AFTER THE QUARTER

  · There are no significant
events to report after the reporting period

CEO COMMENTARY
Our focus during
the quarter has been on the launch of Nalox™/Emtrix® in new markets. In
collaboration with our partners, we have been preparing marketing campaigns,
training sales people and making the first product deliveries to a number of new
markets. Launches have either already commenced or will start shortly in many
European markets. As a result, our strong growth continues and delivered volumes
of finished products triggered milestone payments from Meda. In a reversal of
trends, the Nordic region is no longer our largest market, with the majority of
product revenue during the quarter coming mainly from the rest of Europe, but
also the U.S. Distribution in the U.S. was further strengthened and the product
is now available at 20,000 sales outlets.

We continue to maintain a strong
gross margin, resulting from increased volumes combined with the efficiencies
implemented in our production processes. As a result, we saw substantial
improvement in our results during the quarter.

In product development we have
also seen high levels of activity. Our assessment remains that further studies
on MOB-015 will be required before the project can progress to phase III. A
phase I trial is underway for Limtop, with the results expected in the second
quarter. We have also submitted several international patent applications, some
related to MOB-015 and some facilitating new products.

We believe that we are
well positioned to show pre-tax profit already for the full-year 2012 and have
therefore updated the company’s financial objectives. Furthermore, we reported a
positive impact on earnings after tax in the first quarter of MSEK 29.6, as we
anticipate that future profit will allow us to capitalize on the company’s
outstanding loss carryforwards. Finally, we further strengthened our financial
position during the quarter and I look forward to an eventful year with strong
growth.

Peter Wolpert

TELEPHONE CONFERENCE
CEO Peter Wolpert will present
the report in a telephone conference Tuesday April 24th, 2012 at
11:00.
Telephone: +46 (0)8-506 26 900, enter code 409017

ABOUT THIS
INFORMATION
Moberg Derma 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 12:00 am (CET) on April 23rd,
2012.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Peter Wolpert, President and CEO of
Moberg Derma
Mobile: +46 70-735 71 35
E-mail:
peter.wolpert@mobergderma.se

Magnus Persson, IR
Mobile: +46 73-355 26 01
E
-mail: magnus.persson@mobergderma.se

For further information about Moberg
Derma, please visit: www.mobergderma.com