Medical Developments surges on China approval

Carrie LaFrenzSenior reporter

Updated Nov 21, 2019 – 11.30am, first published at 11.29am

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Medical Developments International has had an investigative new drug application approved by Chinese authorities for its key Penthrox product, paving the way to clinical trials in China.

Shares in the company surged 9.7 per cent to a new high of $6.59 after the announcement on Thursday morning, lifting its market value to $433 million. The shares have have jumped 46 per cent over the past 12 months.

Carrie LaFrenz is a senior journalist covering retail/consumer goods. She previously covered healthcare/biotech. Carrie has won multiple awards for her journalism including financial journalist of the year from The National Press Club.