MVP 0.00% 39.5¢ medical developments international limited

Hi, we must be close to achieving the 3rd milestone payment...

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    Hi, we must be close to achieving the 3rd milestone payment under Mundipharma agreement.
    Extract from 15/9/2015 announcement to market:

    Under the terms of the agreement, Mundipharma will pay MVP upfront and milestone payments of up to $54.5 million US dollars (USD), including:
    •   USD $7 million upon signing;
    •   USD $3million upon receiving Marketing Authorisation approvals in Belgium
      (already received) and France (expected shortly); and
    •   USD $7 million upon receiving first reimbursed sales in France, Germany, Italy and Spain;
    •   The remaining USD $37.5 million on achievement of certain sales based milestones. Additionally
      MVP will receive a gross margin on product sold to Mundipharma and royalties
      based on net sales.
 
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