Distribution, License & Supply Agreement Announced with Medical Developments International
Craigavon, Northern Ireland September 15, 2014 – As part of their continued business development efforts to drive growth in existing and new markets, through licensing, acquisition and partnership, Galen Ltd has announced a significant deal with Australian-based, Medical Developments International (MVP).
The long term licensing agreement enables Galen to exclusively market, distribute, and supply MVP’s emergency pain relief product, Penthrox®, throughout the UK and Ireland and signifies an exciting next step in building a specialty products’ portfolio in Europe.
Penthrox is a rapid onset, non-narcotic, inhaled analgesic that may be self-administered by conscious patients with pain resulting from trauma injuries, under the direction of emergency healthcare professionals, via a hand-held inhaler.
MVP estimate the emergency market in the UK for Penthrox® could be up to 5 times that of the Australian market and therefore represents a substantial opportunity for both companies involved.
Galen’s Managing Director, David Bennett, commented “Galen continues to invest in building a portfolio of innovative branded products with global potential, and we are delighted to sign this deal with MVP to supply Penthrox for the immediate relief of minor trauma and pain in the UK and Ireland.”
He continued: “Galen is recognised as a partner of choice for specialty pharma companies to launch and promote their products within both Europe and the US, and this agreement is further evidence of our commercial success and expertise.”
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About Galen Ltd
Galen is a privately owned, speciality Pharmaceutical Company headquartered in Craigavon (Northern Ireland). The company markets products within the UK, Ireland, Europe and the US in therapy areas such as gastroenterology, female health and pain management. Galen plans to continue expanding its portfolio with selected specialty products on an international basis. Through acquisitions & established partnerships, Galen now has product sales in 23 countries.
About Penthrox®
‘Penthrox®’ is a fast onset, non-opioid analgesic indicated for pain relief by self-administration in patients with trauma and those requiring analgesia for surgical procedures. ‘Penthrox®’ has been used safely and effectively for more than 30 years in Australia with excess of 5.0 million units sold. There is growing interest in ‘Penthrox®’ being using in patients undergoing investigatory procedures, as well as operational procedures such as colonoscopy.
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 minor trauma & emergency pain relief product. It is used in Australian Hospitals including Emergency Departments, Australian Ambulance Services, the Australian Defense Forces, Sports Medicine and for analgesia during short surgical procedures such as Dental and Cosmetic surgery as well as in other medical applications. MVP is expanding internationally and manufactures a range of world-leading Asthma respiratory devices.
For media enquiries, please contact Tristan Jervis or Alex Heeley at De Facto Communications on: +44 (0) 207 203 6740 or e-mail: t.jervis@defacto.com.
For further information please contact:
Galen Ltd:
Simon Lawrence
Vice-President Business Development
Tel: +44 (0)28 3833 4974
Email: customer.services@galen-pharma.com
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