Moberg Pharma to focus on North America expansion with latest executive promotion
Moberg Pharma last week named Jeff Vernimb VP global consumer health as the company reorganizes its sales and marketing operations to reflect the company's increased focus on the North American market.
Prior to the promotion, Vernimb served as general manager North America.
Direct sales currently account for 90% of the company's total revenue. Under Vernimb's management, North American sales have more than doubled in the past three years to $46 million.
Coordinating management of the commercial consumer health operations on a global basis enables more direct sharing of consumer insights and market learning, the company noted.
Moberg Pharma is currently working toward brining to market its MOB-015 product, which is currently in phase 3 studies. MOB-015 is an internally developed topical formulation of terbinafine building on Moberg Pharma’s experience from its leading OTC product Kerasal Nail/Emtrix.
Oral terbinafine is the gold standard for treating onychomycosis, which impacts approximately 10% of the population, but associated with safety issues including drug interactions and liver damage. For many years, developing a topical terbinafine treatment without the safety issues of oral terbinafine has been highly desirable, but unsuccessful due to insufficient delivery of the active substance through the nail.
The global market opportunity is significant with more than hundred million patients worldwide and a clear need for better products. Moberg Pharma estimates the peak sales potential for MOB-015 to be in the range of $250 million to $500 million.