Medical Developments International Limited (ASX: MVP) is delighted to announce it has entered into an exclusive Distribution and License Agreement with Daiichi Sankyo Company Limited (Daiichi Sankyo) for Penthrox? in China, Thailand and Vietnam. Daiichi Sankyo is listed on the Tokyo Stock Exchange (TSE: 4568) Under the terms of the Agreement, Daiichi Sankyo will pay MVP up to $32.5 million US dollars (USD) (AUD $45.8m), including US$15 million upfront (AUD $21.1m), and sales-based milestone payments. MVP and Daiichi Sankyo will both enter into a Master Service Agreement with Japan?s leading full clinical and regulatory service provider, EPS International Holdings Co., Ltd., which is a 100% owned subsidiary by EPS Holdings Inc. (TSE: 4282) to get Penthrox approved for sale in China. MVP will fund the approval process up to US$10 million and will own the intellectual property generated from the program. MVP will also be the owner of the ?Drug Import License? once Penthrox is approved. MVP CEO, Mr. John Sharman said: ?We are delighted to partner with Daiichi Sankyo, one of Japan?s biggest pharmaceutical companies, (FY2017 sales AUD $11.7 billion (1 AUD = 82 JPY)). Daiichi Sankyo shares our vision for the potential of Penthrox in China, Thailand and Vietnam.? Mr. Sharman said: ?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.? Enquiries: David Williams John Sharman Chairman Chief Executive Officer Medical Developments International Ltd Medical Developments International Ltd +61 (0) 414 383 593 +61 (3) 9547 1888 Medical Developments International Limited ABN 14 106 340 667 4 Caribbean Drive Scoresby Victoria 3179 Australia Postal Address PO Box 9004 Scoresby Victoria 3179 Australia Telephone +61 3 9547 1888 Fax +61 3 9547 0262 Web www.medicaldev.com 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 40 years in Australia with excess of 5.0 million units sold. There is growing interest in Penthrox being used in patients undergoing investigatory procedures, as well as operational procedures such as colonoscopy. About Daiichi Sankyo Daiichi Sankyo Group is dedicated to the creation and supply of innovative pharmaceutical products to address diversified, unmet medical needs of patients in both mature and emerging markets. With over 100 years of scientific expertise and a presence in more than 20 countries, Daiichi Sankyo and its 15,000 employees around the world draw upon a rich legacy of innovation and a robust pipeline of promising new medicines to help people. In addition to a strong portfolio of medicines for hypertension and thrombotic disorders, under the Group?s 2025 Vision to become a ?Global Pharma Innovator with Competitive Advantage in Oncology,? Daiichi Sankyo research and development is primarily focused on bringing forth novel therapies in oncology, including immuno-oncology, with additional focus on new horizon areas, such as pain management, neurodegenerative diseases, heart and kidney diseases, and other rare diseases. For more information, please visit: www.daiichisankyo.com. 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 trauma & emergency pain relief product. It is used in Australian Hospitals including Emergency Departments, Australian Ambulance Services, the Australian Defence 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.