The opioid epidemic has been an issue for years now. Since 1990 over half a million deaths have been attributed to opioid overdose. Primarily mediatised as an ‘American’ problem, opioid misuse is significant in most developed countries.
Most people begin their dependence on opioids following surgery where the drugs are prescribed as a method of pain management. Even short term use of opioids can lead to dependence and subsequent misuse. Companies and researchers are working to develop non-opioid based pain relief medications to reduce the prescription of opioids, and hopefully mitigate drug reliance down the line.
Medical Developments International (ASX: MVP) is the manufacturer of Penthrox, a fast onset, non-opioid analgesic that can be used when your stock standard paracetamol just isn’t cutting it. You may know it better as ‘the green whistle’.
Whilst primarily used in emergency care settings, by ambulance paramedics, sports clubs and surf lifesavers for immediate emergency pain relief, the drug is attracting significant interest for post operative pain relief.
Penthrox is fully approved for sale and is available within 40 countries with more than 8 million units sold. The drug is an inhaled anaesthetic, delivered through a specialised, iconically green inhaler. After 6-10 breaths, pain severity is greatly reduced. Each dose lasts approximately 30 minutes.
MVP has signed an agreement with Endo Ventures to distribute Penthrox in Canada. Endo will distribute the product through Paladin Labs, a company under their banner, and one of Canada’s leading pharmaceutical companies.
Distribution is set to begin later this year following drug licensing through Canadian regulators.
CEO of Medical Developments International, Brent MacGregor said: “We are excited to embark on this renewed journey for Penthrow in Canada with such a reputable partner as Paladin Labs. We share a similar belief regarding the potential for Penthrox in Canada, and we look forward to a long and mutually beneficial relationship as Paladin Labs brings the benefits of Penthrox to Canadians in need.”
The agreement comes after an interesting period for the company wherein the US Food and Drug Administration cleared Penthrox for Phase three trials in America targeting trauma and associated pain. The two year trial will hopefully lead to the opportunity to launch Penthrox in the US, the world’s most lucrative healthcare market, following the success the drug has enjoyed in Australasia and Europe.
Samantha Freidin is a business journalist at Emerald Financial whilst also completing a Masters of Marketing and Digital Communications at Monash University.
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