GENERAL: AFT: AFT further extends the Maxigesic® footprint; strengthens the EU Opens in a new window

September 21, 2021

AFT further extends the Maxigesic® footprint; strengthens the presence of the EU

New registrations for Maxigesic in South Korea, Panama, Chile and Peru; EU Business Development Team Grows As AFT Seeks To Increase Its Share Of The Global Pain Medication Market By US $ 47 Billion * And Overcome Bottlenecks At The New Zealand Border

AFT Pharmaceuticals (NZX.AFT, ASX.AFP) today announces that it has further expanded the global footprint of its patented pain relief drug Maxigesic by disclosing regulatory approvals for the intravenous form in South Korea and in Panama, and the tablet form of the drug in Chile and Peru.

It also announces a strengthening of its European activities with the addition of another business development manager to its European office, bringing the total number of employees in this market to three. Two of the staff on this team were transferred from the AFT office in New Zealand.

The records show the number of countries in which AFT has obtained regulatory approval for Maxigesic IV to 26 countries compared to 21 countries at the end of March 2021 and the number of countries in which AFT has obtained regulatory approval for the tablet. from 49 to 51 during the same period.

They also represent a further step towards AFT’s goal of selling the drug (in various forms) in more than 50 countries by the end of the current fiscal year, up from 43 at the end of fiscal 2021. .

South Korean registration of Maxigesic IV was approved in late August 2021 and licensee Kyongbo Pharmaceutical Co. is preparing to begin sales in early 2022.

The Panama Maxigesic IV licensee, the German company Pharma Bavaria, which has a licensing agreement for the drug in 17 countries in the Caribbean, Central America and Latin America, obtained regulatory approval in April 2021 and anticipates a launch of Maxigesic IV later this calendar year representing the first launch in this region.

Finally, with recordings made in Chile in September 2021 in addition to Peru earlier this year, the distributor of Maxigesic tablets in those countries, Barcelona-based Galenicum Vitae, is targeting launches in calendar year 2022.

The Maxigesic family of drugs is based on a novel combination of paracetamol and ibuprofen and offers clinicians around the world an alternative to dual-acting non-opioid pain management to traditional pain relievers.

AFT Pharmaceuticals Limited, Level 1, 129 Hurstmere Road, Takapuna, Auckland0622, New Zealand

Incorporated in New Zealand ARBN: ARBN 609 017 969

AFT Managing Director Hartley Atkinson said: “Faced with the significant challenges in bringing our employees overseas, I am pleased with the progress we are making in advancing the global commercialization of Maxigesic with the launches of the form IV dosing now looming in South America and Asia to add to previous launches in Australasia, Europe and the Middle East.

“The global market for the Maxigesic family of drugs is large with US $ 47 billion in 2020 and is expected to reach US $ 59.5 billion by 2026 *.

Dr Atkinson, however, noted that bottlenecks in international travel to the New Zealand border continued to pose a challenge for AFT in conducting international business.

“With our markets in North America and Europe living with COVID-19 and their markets reopening quickly, we must bring our employees overseas to continue to develop the markets for our products and maintain the momentum of our global operations.

“Our decision to transfer another of our New Zealand-based Business Development Managers to Europe to expand our team there as well as the continued use of remote work tools are examples of the short-term actions we are taking. have taken to respond to these pressures.

“The bottom line, however, is that nothing can replace the face-to-face engagement between our New Zealand-based team and our business partners and research collaborators around the world, so this remains an urgent and increasingly urgent issue. . ”

For and on behalf of AFT Pharmaceuticals Limited, Malcolm Tubby, Chief Financial Officer

For more information:
Dr Hartley Atkinson Richard Inder
General manager The project
AFT Pharmaceutical Phone. : +64 21 645 643
Phone. : +64 9488 0232

About AFT Pharmaceuticals

AFT is a growing multinational pharmaceutical company that develops, markets and distributes a broad portfolio of pharmaceuticals across a wide range of therapeutic categories that are distributed across all major pharmaceutical distribution channels: over-the-counter (OTC), prescription and in a hospital environment. Our product portfolio includes both proprietary and licensed products, as well as patented, branded and generic drugs. Our business model is to develop and license products for sale by our own dedicated sales teams in our home markets of Australia and New Zealand and select markets in South East Asia, and to sublicense our products to local licensees and distributors for the rest of the world. For more information: aftpharm.com

*Source : https://www.expertmarketresearch.com/reports/analgesics-market

AFT Pharmaceuticals Limited, Level 1, 129 Hurstmere Road, Takapuna, Auckland0622, New Zealand

Incorporated in New Zealand ARBN: ARBN 609 017 969

Disclaimer

AFT Pharmaceuticals Limited published this content on September 21, 2021 and is solely responsible for the information it contains. Distributed by Public, unedited and unmodified, on September 20, 2021 09:01:06 PM UTC.

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