Redeye provides its initial take on Moberg Pharma's Q2 report, which saw sales exceed expectations and growth accelerate further, driven by record market shares for Terclara® in Sweden and Norway. Profitability also improved markedly year-on-year, though the underlying cost base ran a touch hotter than we had modelled. The CEO letter otherwise reiterates the launch timeline already communicated between late April and mid-June, with the only incremental item being the strengthening of the commercial and medical leadership announced on 11 August. The report itself contains little fresh strategic news given the launch narrative is already known, and we only expect minor revisions to our near-term estimates.
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