Friday 5th November 2021
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AFT Pharmaceuticals (NZX; AFT, ASX; AFP) has signed an exclusive distribution agreement with ASX-listed McPherson’s Limited (ASX: MCP) to drive growth of its over the counter (OTC) products in Singapore.
The move is aimed at maximising the potential for AFT’s medicines in Singapore, where the OTC market is worth approximately $US600 million and is forecast to grow at around 5.45% to reach $US800 million by 2026*. It is also part of AFT’s broader strategy to grow its presence in Asia.
McPherson’s will distribute and market the tablet form of AFT’s patented Maxigesic pain relief medicine, launched in Singapore in 2018, AFT’s premium Liposomal Nutritional Supplements as well as a number of other newly registered pharmaceuticals.
The agreement seeks to leverage McPherson’s experienced sales and marketing teams in Singapore and will ensure channel strategies and product and merchandising activations are tailored to the local market.
AFT Pharmaceuticals Chief Executive Dr Hartley Atkinson said: “This partnership affirms AFT’s commitment to building new categories and distribution in existing Asian markets and further reaching out into the region.
“We are very pleased with the progress we have made in Singapore, but this agreement with McPherson’s, a specialist OTC distributor, ensures we are aligned with the right partners to ensure success in the future”.
McPherson’s Chief Executive Officer, Grant Peck said “We believe our established distribution channels and strong sales team in Singapore are a great fit for AFT and we are excited for what this partnership will achieve together. AFT’s OTC product brands have great synergies with McPherson’s focus in the health category and we are committed to market growth.”
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