AFT Pharmaceuticals (NZX.AFT, ASX.AFP) has signed exclusive Maxigesic IV distribution and supply agreements for the UK and Hong Kong, with the company targeting sales of the medicine in these territories in 2022.
The agreements cover territories with a combined population of more than 73.9m.
The UK agreement for Maxigesic IV distribution is with the UK based global pharmaceutical company, EDGE Pharmaceuticals and its local UK Joint Venture partner, Kensington Pharma.
The UK market has been identified in independent research to have a number of attractive features with 2.68m cases of surgical post-operative pain in 2020. The same research forecasts the post-operative pain market to grow from US$37m to $122m between 2020 and 2028.
AFT has extended its product range in Hong Kong with the addition of Maxigesic IV to the existing Distribution Agreement with DKSH. After a successful launch of Maxigesic tablets, DKSH are well positioned to continue their success with the addition of the IV formulation once product registration in Hong Kong is complete.
AFT Pharmaceutical's Managing Director Dr Hartley Atkinson says: 'We are delighted to further extend our distribution network in these markets. We have successfully worked with Edge Pharmaceuticals in our local Australaisan and Asian hospital markets since 2010 so there is already a good track record of co-operation and in market success. Both Kensington Pharma and DKSH specialise in their respective regions with business teams that have an excellent understanding of their local markets.'
Maxigesic IV regulatory approval in the UK is expected to conclude Q4 of 2021, with sales then expected in the early part of 2022 while Hong Kong we expect regulatory approval and sales in the second half of 2022.
Viv Hansen, Chairman of Edge Pharmaceutical Group says: 'We are very excited to introduce a new player into the post-operative pain management arena in the UK in the form of Maxigesic IV, and to further expand an existing relationship with AFT Pharmaceuticals.'
Maxigesic IV (Paracetamol 1000mg+ Ibuprofen 300mg solution for infusion) is an intravenous formulation developed as a line extension to Maxigesic tablets, for use post-operatively in hospitals 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.
Following on from the registration of Maxigesic IV in Australia and New Zealand in mid-2019, AFT has now licensed the medication in more than 90 countries. Meanwhile, the tablet form of Maxigesic has been licensed in more than 125 countries.
Dr Hartley Atkinson
Tel: +64 9488 0232
About AFT Pharmaceuticals
AFT is a growing multinational pharmaceutical business with a broad range of products, both developed itself and in-licensed from third parties. AFT's products cover all major pharmaceutical distribution channels: over-the-counter, prescription and hospital. Historically, AFT's home markets have been Australia, New Zealand and South-East Asia. However, the company is out-licensing its own products to licensees and distributors to sell in an increasing number of countries around the world. The company's intensive Research and Development program forms the basis of its international sales strategy.
DKSH provides a leading range of integrated marketing expansion services across the entire value chain, from registration to distribution. They have a capillary network reaching more than 160,000 hospitals, clinics, pharmacies, doctors and drugstores throughout Asia.
About Edge and Kensington
Edge Pharma Limited is focused on the supply of hospital products to a number of countries globally, whilst Kensington Pharma Limited is focussed on the supply of products to hospitals within the UK.