Medical Developments International, the company behind Australia’s “green whistle” pain relief inhaler, is trying to get the device into the US market.
The company says it’s in the process of appointing a US regulatory consultant to help get Penthrox, the emergency pain killer, through the regulatory requirements.
Medical Developments International Limited today posted 74.7% rise in after tax profit to $1.529 million for the year to June. Sales grew 24% to $11.608 million.
Medical Developments has been pushed the unique Australian “green whistle” into Europe.
The company says 2016 and beyond should see the flow through results of new global registrations, licensing deals and recent staff hires, combining to deliver further sales and profit growth.
The green whistle was developed in Australia and has been used by surf clubs, ambulances, defence forces and sporting leagues for 30 years.
Penthrox has significant advantages over other analgesics such as nitrous oxide and morphine in that it is rapid, self-administered, non-addictive, non-narcotic, safe to use and provides strong pain relief.
Medical Developments International is using a new lower cost manufacturing process developed with the CSIRO to increase production of Penthrox’s underlying drug methoxyflurane by ten-fold.
Medical Development shares are down 1.35% to $2.20.