Penthrox licensing deal for Russia
12 April 2017
ASX ANNOUNCEMENT
Penthrox licensing deal for Russia
Medical Developments International Limited (ASX: MVP) is delighted to announce it has signed a new distribution agreement with JSC Lancet (Lancet) to distribute Penthrox® in Russia.
The agreement includes milestone payments of AUD $2.3 million.
Lancet is one of Russia’s leading and fastest growing pharmaceutical companies and act as Russian distributors for companies such as Novartis, GSK, Pfizer, Bayer, AstraZeneca, Teva, Roche and others. In recent years Lancet has achieved approval of a number pharmaceutical products from the Russian Ministry of Health. As part of this agreement Lancet will pay the substantial costs of the clinical trials, registration and approval of Penthrox in Russia.
Please refer to the following for the full release ASX Announcement 12.4.17