Moody's: Octapharma to stable

Moody's Investors Service said it changed to stable from negative the outlook on the Ba1 corporate family rating of Octapharma Nordic AB.

The outlook change reflects the progressive normalization of Octapharma's operations with the return of the product Octagam to the European and U.S. markets, Moody's said.

Octagam has been back on the European market since June, the agency said. And more recently, the FDA approved in early November the return of Octagam to the U.S. market.

Moody's said it expects the product to be distributed again in the United States before the end of the year.

The rating continues to incorporate the company's relatively small size, focus on one activity, plasma-derived products, and vulnerability to market imbalances and negative pricing movements, the agency said.

These negative rating drivers are balanced by Octapharma's limited level of debt outstanding, the private status of the company and favorable volume dynamics in the market, Moody's said.

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