Redeye views the Q2 report as further confirmation of a successful strategy to already arrive at being the Swedish market leader. The better sales than expected in the quarter are, of course, positive in themselves and solidify our view that the strategy taken by Moberg Pharma is solid. We adjusted our expectations slightly upwards for 2024/2025e as the market impact of Terclara on the market has been substantial, and we also deduced that the deal with Allderma was better than we had accounted for. The Base case is SEK 32(29) per share.
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