Wednesday 5th May 2021
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AFT Pharmaceuticals today announces it has licensed Maxigesic IV into Colombia, Peru, Chile, Ecuador, Bolivia, and Uruguay, extending the medicine’s addressable market in Latin America and the Caribbean to 17 countries.
The agreement with Pharma Bavaria International builds on an agreement signed in February 2020, that saw Maxigesic IV licensed to the German company in 12 countries in Central America and the Caribbean including Panama, Costa Rica, El Salvador, Honduras, Nicaragua, Guatemala, Belize, the Dominican Republic, Haiti, Trinidad & Tobago, and Cuba.
Headquartered in Germany with a strong international focus, Pharma Bavaria has dedicated itself to bringing novel pharmaceuticals to high growth regions. Following this agreement, it now has the potential to take Maxigesic IV to a significant population across these territories.
AFT Pharmaceuticals Chief Executive Dr Hartley Atkinson said: “We are delighted to extend our agreement with Pharma Bavaria. Latin American markets are significant and growing with one recent report suggesting the market for pain management medicines would grow at an average rate of 3.5% a year until 2027.
“The agreement deals we have achieved over the last 12 months lifts the Maxigesic IV coverage to over 100 countries. The focus now moves to accelerating registrations and launches over the next 24 months.”
Pharma Bavaria’s Chief Executive Officer Dr Manuel Heim, added: “we are very excited to extend our excellent collaboration with AFT to further territories in the LATAM region with this innovative formulation, giving healthcare professionals new options in hand for successful pain management. Maxigesic™ IV is a consequent add-on to our existing portfolio, strengthening our focus in the therapeutic area of analgesics with an added-value.”
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