Friday 5th March 2021
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AFT Pharmaceuticals today announces it has signed an exclusive Maxigesic IV licensing agreement for eight new European markets. The agreement, which due to COVID-19 restrictions was negotiated and sealed entirely online, is with the Lyon, France-based Aguettant. It means Maxigesic IV will now be available in 20 of the 27 EU member states, including Germany, France, Italy and Spain as well as the UK.
AFT Pharmaceuticals Managing Director Dr Hartley Atkinson said: “We are delighted to have reached this agreement with Aguettant, which specialises in injectable pharmaceuticals and has a strong sales record in the hospital sector across the EU.
“The agreement extends Maxigesic IV’s footprint across Europe and significantly expands the market for the medicine. In Spain, for instance, more than 2.5 million surgeries are performed annually, while a further 1.1 million surgical procedures are completed in the Nordic countries. Maxigesic IV offers a non-opiate therapeutic alternative for many of these cases.
“The potential for Maxigesic IV and other dose forms of the medicine is significant. The market for post-operative pain, which is a subset of Maxigesic’s total addressable market, is growing rapidly and is forecast by independent market research to reach US$553 million in 2028 across the 5 major markets of Europe (up from US$178 million in 2019).
“Particularly, this research has suggested that our Maxigesic IV platform in the same geographies and market has the potential to grow to generate annual in- market sales of more than US$88 million. We are looking forward to working with Aguettant to help us realise its potential,” Dr Atkinson said.
Dr Atkinson also thanked the teams from both companies for their commitment to the deal in the face of the commercial challenges of the COVID-19 pandemic.
“The agreement is a testament to the adaptability and resilience of both Aguettant and AFT. Despite the difference in time zones and the challenges of the current travel bans we have put together an agreement that will improve health outcomes in Europe and drive increases in shareholder value.”
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