The Medical Developments International Ltd (ASX: MVP) share price is up 4% to $6.83 today despite the company releasing no price sensitive news to the market. Medical Developments is the healthcare business behind the 'green whistle" Penthrox pain killer product that is generally inhaled by patients to ease pain in accident and emergency situations.
The green whistle is commonly carried by accident and emergency teams around Australia and it's the company's success in expanding overseas via regulatory approval and subsequent commercialisation deals that is sending the share price higher.
In fact the stock has surged 261% over the past 5 years as the company announced Penthrox sales in large overseas markets like the UK, France, Belgium and recently Mexico.
On October 16 it was revealed that the group's chairman David Williams sold 4.35 million shares at $5.40, although this has not deterred investors from bidding the stock significantly higher in the weeks since.
For the year ending June 30 2017 the group posted a net profit of $1.82 million on revenues of $18.9 million. It also paid a dividend of 2 cents per share on 3.1 cents in total earnings per share.
