After Medical Developments International Limited’s (ASX: MVP) exclusive deal for Penthrox in China , MVP has been granted marketing authorization for the Penthrox medicine in Kingdom of Saudi Arabia (KSA). This authorization is granted by Saudi Food and Drug Administration to use this medicine for emergency relief from moderate to severe pain for those patients who are adult and conscious related to trauma and associated pain. The CEO of the company Mr. John Sharman is very excited about this achievement as KSA is the key market in the middle-east and for this approval the company was working with its partner Yahmaa Medical company (a fastest growing pharmaceutical companies in Saudi Arabia with more than 33 companies as partners with international companies so as to import, market and distribute pharmaceuticals in Saudi Arabia) since 2014. Mr. Sharman believes this approval will have positive implication for the rest of the regions and will prove beneficial in getting approval in other countries of middle east. In the Saudi Arabia and middle east there is a strict government control with regards to the administration of opioids in order to treat moderate to severe pain. As compared to western countries the patients in the middle east are often being undertreated in case of pain. As per Dr Allam Al-Barazi of Yahmaa Medical company, it was reported that out of 16.7 million medical treatment reported to Saudi Arabia, more that 5.5 million patients with pain were treated with non-opioid pain relief such as paracetamol and Voltaren. He also expresses the need to Penthrox in the middle east where patients are treated with non-opioid, non-addictive, fast acting, non-invasive treatment option. He finds Penthrox safe, effective and also can be used easily.
If we see the performance record of the company, for 1-year company performance was in negative with a value of -10.81%. For the past 5 years, company has performed very well with performance of 262.98 %. For the past 10 years the company has performed exceptionally well with returns of 2292.37%. For FY 2018, net profit of the year was only A$ 0.243 million which is very low as compared to the previous FY 2017 with net profit of A$ 1.820 million.
Company shows a strong balance sheet as the debt ratio (total liabilities/total asset) is 0.58 indicating that most of the financing of asset is done through debt. Also, the current ratio of 1.43 shows company’s potential to pay its short-term obligations. The company has made a gross profit of A$12.364 million from the sales of goods and contacts worth A$ 17.461. Hence the gross profit margin of the company comes around 70.81% indicating the efficiency of the production or the trading operations. Company’s holds cash and cash equivalent worth A$ 0.794 million.
Currently, company’s share price traded at A$ 4.77 with market capitalization of A$ 323.74 and PE ratio to be 1237.50. The price movement through charts says that the moving average convergence divergence line (MACD line) is above the signal line. However, the MACD line is moving in the downwards direction and thus prices might go down a bit from here.
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