Announcement
GENERAL: AFT: AFT notes Maxigesic(R) sales estimates in new market research
08:31am
AFT
23/01/2020 08:31
GENERAL
NOT PRICE SENSITIVE
REL: 0831 HRS AFT Pharmaceuticals Limited
GENERAL: AFT: AFT notes Maxigesic(R) sales estimates in new market research
Market and media release 23 January 2020
AFT notes Maxigesic(R) sales estimates in new market research
AFT Pharmaceuticals (NZX; AFT, ASX; AFP) notes the publication of new market
research that estimates the potential for AFT's patented medicine Maxigesic
in managing postoperative pain in the US, Japan and the top 5 European Union
countries [France, Germany, Italy, Spain and UK].
The independent research, entitled 'Postoperative Pain Market Insights,
Epidemiology and Market Forecast--2028'1, estimates the Maxigesic platform
has the potential to generate sales of US$441.9 million in these markets by
2028.
The research, by life science consulting and market research firm
Delveinsight https://www.delveinsight.com), also estimates the market for
postoperative pain relief will grow at a compound annual growth rate of
10.26% from US$1.1 billion in 2019 to reach US$2.6 billion in 2028.
AFT Pharmaceuticals Managing Director Hartley Atkinson said Delveinsight's
forecasts for Maxigesic were prepared independently of AFT and that AFT was
unaware that the research was being undertaken, and the company expresses no
view on the accuracy of the research nor its conclusions.
"We note that the conclusions of the report are subject to a number of
assumptions including one that AFT will obtain regulatory approval of the
intravenous formulation, Maxigesic IV, in 2021 in the two largest markets
identified in the study, the US and Japan. However, it is positive that the
market is seen to more than double over this time period with the anticipated
increase in new non-opioid analgesic medications for treatment of
post-operative pain.
"AFT is seeking regulatory approvals for Maxigesic in Europe, Japan and the
US. However, there can be no certainty of achieving these goals within the
timeframe specified in the DelveInsight report.
"Moreover, even if the company does obtain the necessary regulatory approvals
within the specified timeframe, there is no certainty that licensees in these
markets will make the sales estimated in the report, AFT has to date licensed
Maxigesic IV in over 70 countries including recently Canada, Indonesia and
Pakistan. However, it is positive that an independent party sees the market
category as growing and that Maxigesic is well placed to compete with new
products in the category" Dr Atkinson said.
AFT has already received regulatory approval for the tablet form of the
Maxigesic medication in 44 countries including all members of the European
Union and the UK. It has also obtained regulatory approval for the
intravenous form of Maxigesic in Australia and New Zealand to date with a
significant number of new registrations presently underway and to be filed
during this calendar year.
"AFT will be making no further comment on the DelveInsight report," Dr
Atkinson said.
For and on behalf of AFT Pharmaceuticals Limited, Malcolm Tubby, CFO
Notes to editors:
Maxigesic IV is a patented, fixed ratio of ibuprofen (as sodium dihydrate 300
mg) for anti-inflammation management and paracetamol (1000 mg) for pain
management. Its tablet form is licensed in more than 125 jurisdictions
worldwide, registered in 44 jurisdictions and sold in 24 under a variety of
different brands2. AFT is also licensing and seeking regulatory approval for
other dose forms of the medication including Maxigesic IV.
1Postoperative Pain Market Insights, Epidemiology and Market Forecast--2028.
Delveinsight.
2 As at 30 September 2019.
For more information:
Investors Media
Dr Hartley Atkinson Richard Inder
Managing Director The Project
AFT Pharmaceuticals Tel: +64 21 645 643
Tel: +64 9488 0232
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 over 125 countries around the world. For more
information about the company, visit our website www.aftpharm.com.
End CA:00347440 For:AFT Type:GENERAL Time:2020-01-23 08:31:13
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