The Medical Developments International Ltd (ASX: MVP) share price extended its strong run on Tuesday, climbing a further 1% to $6.85.
This brought the healthcare company's year-to-date gain to 55%.
Why were its shares higher on Tuesday?
This morning Medical Developments International provided the market with an update on the global expansion of its Penthrox pain management product, also known as the green whistle.
According to the release, Penthrox has been approved for use in an additional 22 European countries today.
The company's CEO, John Sharman, believes that the approval of Penthrox for use in Europe is the single biggest achievement in the company's history.
The next step that the company must take is the National Phase. This is an administrative process whereby each country approves the translation of the labelling and product information, before registering Penthrox as being available for sale in their national records.