Medical Developments International signs deal with Purdue Pharma

Company News

by Jessica Ellerm

Medical Developments International Limited (ASX:MVP) has announced it has signed an exclusive licensing and distribution agreement with Purdue Pharma for its Penthrox Inhaler in Canada.
Penthrox is a fast-acting, non-narcotic analgesic drug administered to conscious adult trauma patients for the emergency relief of moderate to severe pain.
The medication is currently approved for marketing in 15 countries and has been marketed in Australia since 1975.
Purdue Canada will pay MDI up to CAD$3 million as part of the deal through a combination of upfront, milestone and success based payments. 
Medical Developments International Limited reported a net profit of $1.6 million at 30 June 2016.

Jessica Ellerm

Finance News Network
Jessica joined FNN in April 2016 and presents the Australian Share Market Outlook, and reports on the morning's leading business stories. Alongside FNN Jessica is a fintech industry commentator, writing for her own blog and a number of international online publications.