Tuesday 24th January 2023
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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.
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