As part of its continued business development efforts to drive growth in existing and new markets, through licensing, acquisition and partnership, Galen 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 estimates 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 MD, 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.”