Should have done 5 minutes of research before hitting Submit on this BS
In July 2018 Mundipharm purchased the ActiPatch distribution rights for Australia and New Zealand from Evomed, the current owner of those rights. Mundipharma wanted to distribute ActiPatch bad enough to pay off Evomed for the rights. In November 2018 Mundipharma added the following countries:
Singapore
Malaysia
Thailand
Indonesia
Philippines
In 2019 the Opioid Crisis was hitting the companies who made and distributed Opioids. By September 2019 Perdue, owner of Mundipharma, was selling assets to pay for the lawsuits and declared BK.
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BioElectronics ActiPatch Musculoskeletal Therapy Added to Mundipharma Australia’s Pain Portfolio
JULY 23, 2018
"BioElectronics Corporation is pleased to announce that Mundipharma Pty Limited (Mundipharma), https://www.mundipharma.com.au/ has added ActiPatch® to its pain management portfolio, by acquiring the exclusive Australian and New Zealand distribution rights to the ActiPatch® Musculoskeletal Pain Therapy medical device."
“The addition of ActiPatch® to our existing pain medications confirms our commitment to help clinicians manage pain with a multimodal approach, including non-drug therapies. Our education programs for healthcare professionals emphasize the importance of stepped multimodal pain management, so I’m delighted that we’re now able to offer ActiPatch®,” said Jane Orr, Managing Director of Mundipharma Australia and New Zealand.
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BioElectronics Signs a Five Country Additional Distribution Agreement with Mundipharma Pty Limited, South East Asia
November 15, 2018 08:30 ET
BioElectronics Corporation (OTC PINK: BIEL), www.bielcorp.com is pleased to announce that Mundipharma Pty Limited, has added the ActiPatch® Musculoskeletal Pain Therapy medical device to its pain management portfolio by acquiring the distribution rights in South East Asia, for Singapore, Malaysia, Thailand, Indonesia and the Philippines.
“Mundipharma is adding five additional countries to their Australia and New Zealand ActiPatch sales program. We are exceptionally pleased to have Mundipharma’s training programs, clinical credentials, and medical and retail representatives educating physicians and pharmacists on the benefits of ActiPatch® Therapy,"
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December 4, 2018 Update
"4. Complete our 8th country deal and aggressively support the seven existing countries with Mundipharma."
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BioElectronics Announces Back Pain Clinical Study with Leading Australian Pain Center
MARCH 8, 2019
"BioElectronics Corporation is pleased to announce the commencement of a clinical study investigating the efficacy of ActiPatch in treating chronic lower back pain. The objectives of this additional back pain study are to support Mundipharma’s Australia and New Zealand sales and marketing, provide local economic data for product reimbursement, and to document ActiPatch’s effectiveness on central sensitization pain."
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US expert presents evidence for innovative drug-free pain management device, ActiPatch®
Announcement posted by Mundipharma 14 Mar 2019
"Mundipharma was pleased to welcome Biomedical Engineer Dr Sree Koneru
to Australia to give a presentation on the innovative pain management device, ActiPatch®,
which he helped develop. Mundipharma recently acquired the exclusive Australian and New Zealand distribution rights for ActiPatch®, reinforcing its commitment to the multimodal approach to pain management."
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Purdue Pharma files for bankruptcy in the US
16 September 2019
"The company's board approved the Chapter 11 filing on Sunday. The move is designed in part to resolve more than 2,600 lawsuits filed against Purdue over its alleged role in the opioid epidemic."
"Under the terms of the deal, Purdue is to be dissolved and the money raised - estimated to be about $10bn-$12bn (£8bn-£9.7bn), including a minimum cash contribution of $3bn from the Sackler family - will go towards settling the lawsuits. The Sacklers have also offered an additional $1.5bn from the eventual sale of Mundipharma, another pharmaceutical firm owned by the family."
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