[September 18, 2014] |
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Galen Signs Exclusive Deal in Europe
CRAIGAVON, Northern Ireland --(Business Wire)--
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
glbal 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."
-End-
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.
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