EU Transition and Trading Update
3 December 2020
ASX ANNOUNCEMENT
EU Transition and Trading Update
Medical Developments International Limited (ASX: MVP) today provides an update in relation to its Penthrox EU transition activities and trading conditions.
Transition arrangements for taking back the distribution rights from Mundipharma in the EU are progressing to plan. Progress to date includes the establishment of an EU based legal and corporate structure, contracting of pharmacovigilance and regulatory related service providers and securing operational infrastructure in-market, including importation and logistics capability. The Marketing Authorisations previously held by Mundipharma are being transferred concurrently to allow MVP to assume control of sales and distribution activities on 1 March 2021.
Mr. MacGregor said “The opportunity in the EU remains strong and we’re revisiting our execution strategy, assessing and building on the foundation work done by Mundipharma, including determining where we can deploy a direct or hybrid selling model which brings enhanced control and margin. Europe will be the primary focus of MVP over the coming year.”
Refer to the following link for the full announcement – ASX Announcement – EU Transition and Trading Update