26 July 2024
Medical Developments International extends agreement for Penthrox® (Methoxyflurane) distribution with Galen in UK and Ireland.
Medical Developments International (ASX: MVP, the Company) has extended its agreement for marketing and distribution of Penthrox® in the United Kingdom (UK) and in Ireland with its partner, Galen, to the end of 2027.
Galen has been responsible the marketing and distribution of Penthrox® in the UK and in Ireland since 2014. The UK represents the largest market for Penthrox® outside of Australia.
Galen has been successful in listing Penthrox® on protocol in over 70% of NHS trusts in the UK, and 100% in Ireland. Galen’s success is testament to the execution of its strategy in these markets. Furthermore, the extension of the existing agreement signifies its continuing belief in the growth potential for Penthrox®.
The extension follows the success of the Company’s clinical study, MAGPIE, which demonstrates that methoxyflurane is efficacious for treatment of acute trauma related pain in children (6 to < 18 years), with a safety profile consistent with adults. The Company will submit the MAGPIE study data to the European regulatory agency in August 2024. A successful outcome would broaden the addressable market for Penthrox® in these markets from its current 18-year-old+ indication to children as low as 6 years of age and may address a barrier to Penthrox® entry in the UK ambulance segment.
CEO Brent MacGregor said, “We are thrilled to be continuing our relationship with Galen through the end of 2027. They have been our partner for close to 10 years and have successfully built the Penthrox® business across the UK and in Ireland to the point where the UK represents our most important market worldwide outside of Australia.
“An expanded age indication would provide exciting potential for Penthrox® growth in Europe, and specifically the UK, over the coming years. The continued effort of an experienced partner, like Galen, will be invaluable in realizing this potential.”
Galen President and Managing Director, Dennise Broderick said, “We are delighted to extend our current agreement with MVP and to continue our journey of bringing Penthrox® to as wide a population as possible, across hospital and ambulance service recipients alike. We have been keen to see the age indication for Penthrox® come down to lower age groups such that children can experience its benefits as well. We remain excited for the future of Penthrox® across the UK and in Ireland”.
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Enquiries
investor@medicaldev.com
+61 (3) 9547 1888
Medical Developments International Limited ABN 14 106 340 667
4 Caribbean Drive Scoresby Victoria 3179 Australia Postal Address PO Box 9004 Scoresby Victoria 3179 Australia
Telephone +61 3 9547 1888 Fax +61 3 9547 0262 Web www.medicaldev.com
About Medical Developments International Ltd
MVP is an Australian company delivering emergency medical solutions dedicated to improving patient outcomes. MVP is a leader in emergency pain relief and respiratory products. The Company manufactures Penthrox®, a fast-acting non-opioid trauma & emergency pain relief product. It is used in Australian Hospitals including Emergency Departments, Australian Ambulance Services, the Australian Defence Forces, Sports Medicine and for analgesia during short surgical procedures such as change of burns dressings, biopsies, and dental procedures as well as in other medical applications.