Medical Developments receives drug approval in Ireland

Company News

Medical Developments International (ASX:MVP) has announced that it has received final approval from the Health Products Regulatory Authority of the Republic of Ireland to market and sell its inhaled analgesic product.
 
“Penthrox” is used for trauma and associated pain in Ireland.
 
The company says the approval gives MVP’s partner in Ireland and the United Kingdom, Galen, the opportunity to sell Penthrox effective immediately. 
 
Galen is planning to launch Penthrox in December 2015 and the company says it has received its first firm orders commencing in Jan 2016. 
 
The company reported a net profit of $1.53 million at 30 June 2015.