Sharechat Logo

AFT announces Maxigesic IV® distribution agreement for nine

Tuesday 24th January 2023

Text too small?

AFT Pharmaceuticals (NZX.AFT, ASX.AFP) today announces it has signed an exclusive

licensing and distribution agreement for Maxigesic® IV, the intravenous form of its patented pain relief medicine, for nine countries in Eastern Europe.

 

The agreement – with Slovenia’s Salus Pharmaceuticals – will see Maxigesic sold in Lithuania, Estonia, Latvia, Croatia, Slovenia, Serbia, North Macedonia, Montenegro and Bosnia. Registrations are already held in Lithuania, Estonia, Latvia, Croatia and Slovenia, where launches are planned for these countries during this year and registration applications will be filed in the remainder.

 

The agreement follows hard on the heels of the launch of Maxigesic IV in two major EU markets, France and Italy (with Germany’s Everpharm GmbH) in November.

 

Maxigesic IV (Paracetamol 1000mg + Ibuprofen 300mg solution for infusion) is a patented intravenous formulation developed as a line extension to Maxigesic tablets,

for use post-operatively in hospitals and when patients cannot take a medicine orally.

 

A major Phase 3 clinical trial conducted in the USA found that Maxigesic IV provided significantly better pain relief than either paracetamol (acetaminophen) IV or ibuprofen IV alone in the same doses . Further recently completed exposure trials have demonstrated the drug’s efficacy and safety in an expanded population group over a longer treatment period

 

AFT Pharmaceuticals Managing Director Dr Hartley Atkinson said: “We are delighted to have reached this agreement with Salus, which has significant operations in Central and Eastern Europe”.

 

“Indeed, 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) .

 

Žiga Hieng, CEO of Salus, said: “We are delighted to be partnering with AFT in 9 countries of the Balkan and Baltic regions. Adding Maxigesic IV formulation allows us to offer a brand-new pain management solution for acute moderate pain that suffers none of the drawbacks linked to opiate-based pain relief medicines. It is an exciting opportunity.”

 

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

For more information:

Dr Hartley Atkinson Richard Inder

Managing Director The Project

AFT Pharmaceuticals Tel: +64 21 645 643

Tel: +64 9488 0232

 

Released for and on behalf of AFT Pharmaceuticals by Malcolm Tubby, Chief Financial Officer

 

About AFT Pharmaceuticals

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



  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

TRU - WHO Agency UNITAID Features TRU in Tech Landscape Report
PaySauce Quarterly Market Update - September 2024
October 2nd Morning Report
Rua Releases Annual Report for Year Ended 30 June 2024
SCL - Settlement of orchard sales
The Warehouse Group 2024 ASM and Director Nominations
AIR - Update on Chief Operational Integrity and Safety Officer
Comvita Limited - Annual Report 2024
September 27th Morning Report
Spark announces departure of Finance Director