Karo Healthcare AB ("Karo") has entered an exclusive licensing agreement with Moberg Pharma AB ("Moberg Pharma") regarding the commercialisation of MOB-015 in Europe. The agreement comprises 19 European markets, enabling a coordinated launch across all key European markets under the leading global antifungal brand Lamisil®[1].

The agreement covers 19 markets, representing a total population of approximately 500 million people, including all major EU countries and the United Kingdom ("Big 5"). It also includes eleven countries where MOB-015 is already approved but not yet launched. In these markets, Karo will be responsible for marketing, distribution, and sales.

The agreement further strengthens our position in the foot health category, one of Karo's core focus areas, where we already have established brands and deep expertise across commercial execution, consumer insights, and regulatory know-how.

MOB-015, developed by Moberg Pharma, represents the next generation of terbinafine therapy - a new topical formulation. Previous attempts at topical treatment with terbinafine have failed due to the difficulty of delivering a sufficient amount of the active substance through the nail. MOB-015 is the first topical treatment to achieve results on par with oral treatment, with 76% of patients reaching mycological cure in registration studies. It is therefore particularly satisfying to launch the product under the strong and fitting Lamisil® brand in most of the 19 countries.

"Moberg Pharma has developed a clinically well-documented and differentiated product. Being able to launch MOB-015 under the strong Lamisil® brand makes this a powerful combination of scientific innovation and commercial execution - and positions us strongly to lead in the European antifungal market," says Christoffer Lorenzen, CEO of Karo.

"We are very pleased to enter this partnership with Karo, which has a strong commercial presence across Europe. Launching MOB-015 under the well-known Lamisil® brand gives us an exceptional opportunity to establish the product as the market leader also beyond Sweden and Norway," says Anna Ljung, CEO of Moberg Pharma.

For further information, please contact:

Christoffer Lorenzen, CEO, christoffer.lorenzen@karo.com

Michael Kaltenborn, CSDO, +49171681 0314, michael.kaltenborn@karo.com

Lisa Westerdahl, CPSO and Head of Corp. Comms, +46733297004, lisa.westerdahl@karo.com

The information was submitted for publication by the contact persons set out above at 08:30 CET on 5 November 2025.

About Karo Healthcare

Karo Healthcare is a leading European consumer healthcare company with the purpose of delivering "Smart choices for everyday healthcare", empowering people to live life to the fullest. Our products are available in more than 90 countries and include trusted original brands such as Lamisil®, E45®, Pevaryl®, Proct®, AlphaFoods, Nutravita, Flux®, Locobase®, Multi-Gyn® and Paracet®. Headquartered in Stockholm, Karo employs about 470 people who work out of Karo's 13 international hubs. For more info, visit karohealthcare.com.

About Moberg Pharma

Moberg Pharma AB (publ) is a Swedish pharmaceutical company focused on commercializing proprietary innovations based on drug delivery of proven compounds. The company's drug MOB-015 is a novel topical treatment for onychomycosis (nail fungus) with market approval in 13 EU countries. MOB-015 is sold in Sweden and Norway under the brand name Terclara® and is available at all pharmacy chains. Phase 3 clinical trials for MOB-015 involving more than 800 patients indicate that the product has the potential to become the future market leader in onychomycosis. Moberg Pharma has agreements with commercial partners in place in various regions including Europe and Canada. Moberg Pharma is headquartered in Stockholm and the company's shares are listed under Small Cap on Nasdaq Stockholm (OMX: MOB).