J. Molner AS strengthens US market position with new product development agreement Tallinn, 2024-12-10 08:00 CET --
J. Molner AS (Nasdaq Tallinn: MOLNR) has signed a significant product development agreement with a US pharmaceutical company, aimed at expanding the company’s presence in the US market through the development of two new formulations.
The agreement includes significant financial benefits for J. Molner AS, notably the elimination of future royalties on three key products: Hydrocortisone Butyrate Lotion, Desoximetasone Ointment, and Diflorasone Ointment. This will significantly improve gross margins and positively impact on the company’s financial performance.
Additionally, the agreement enhances J. Molner AS's product portfolio with the transfer of ownership of two additional drug products: the already launched Lidocaine 4% Cream (OTC) and a topical corticosteroid solution, which is currently pending Abbreviated New Drug Application (ANDA) submission to the U.S. Food and Drug Administratio (FDA). The successful transfer and potential launch of these products are subject to FDA approval, which would further drive growth and strengthen J. Molner’s market position.
“This agreement not only strengthens our product portfolio but also eliminates costly royalties, significantly improving our profit margins,” said Sten Akel, CFO of J. Molner AS. “It reflects the trust and confidence our US partners have in our ability to develop complex formulations. We are excited about the growth and innovation opportunities this presents in the US market.”
The strategic collaboration and product transfers are expected to positively impact J. Molner AS's operational and financial performance, reinforcing the company’s commitment to enhancing shareholder value and strengthening its competitive position in the global pharmaceutical market.
For more information about J. Molner AS and its initiatives, please visit www.jmolner.com.
Sten Akel
J. Molner AS
CFO
+372 550 5259
s.akel@jmolner.com
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