According to Medical Developments International (MVP), Daiichi Sankyo will pay up to $32.5 million for the rights to distribute MVP’s Penthrox methoxyflurane inhaler in China, Vietnam, and Thailand. The deal includes $15 million up front plus sales milestones.
MVP will pay up to $10 million toward acquiring marketing approval in China, will own the drug import license after approval, and will retain the intellectual property from the Chinese development process. Both companies will work with Japanese company EPS International Holdings, which provides clinical and regulatory services.
Penthrox is currently approved in Australia, Canada, and most of Europe. The US clinical development program for Penthrox is currently on a clinical hold; MVP recently announced that it believes that it can meet the requirements specified by the FDA in the clinical hold letter.
MVP CEO John Sharman commented, “We are delighted to partner with Daiichi Sankyo, one of Japan’s biggest pharmaceutical companies. Daiichi Sankyo shares our vision for the potential of Penthrox in China, Thailand and Vietnam. Acute pain in trauma and minor surgical procedures is undertreated in the Chinese healthcare system. MVP believes there is an important place for Penthrox in pain management in China. Penthrox, with its fact acting, non-addictive, non-opioid characteristics will be an important tool for pain management in the Chinese, Vietnamese and Thai markets.”
Read the MVP press release.
