Announcement
GENERAL: AFT: AFT signs agreements to new markets worth more than US$1bil
08:30am
AFT
18/11/2019 08:30
GENERAL
NOT PRICE SENSITIVE
REL: 0830 HRS AFT Pharmaceuticals Limited
GENERAL: AFT: AFT signs agreements to new markets worth more than US$1bil
Market and Media release 18 November 2019
AFT signs agreements to new markets worth more than US$1billion
AFT Pharmaceuticals (NZX; AFT, ASX; AFP) today announces it has signed
licensing agreements for its Maxigesic pain relief medication in Germany,
Pakistan and Vietnam, countries with pain relief markets worth more than US$1
billion*.
In Germany, where AFT has already achieved regulatory approval for Maxigesic
tablets, the agreement represents the last significant hurdle to making first
sales in an analgesic market worth US$564m*.
The agreement, with the German affiliate of Austria's EVER Valinject GmbH,
covers the prescription rights for Maxigesic, potentially creating the
opportunity for AFT to license the over the counter rights separately.
AFT expects first sales of Maxigesic in the German market in the 2020
calendar year. Sales in Pakistan and Vietnam are expected in 2022 and are
still dependent on securing regulatory approvals.
AFT Managing Director Dr Hartley Atkinson, says the agreements represent
further significant steps in AFT's strategy to drive the commercialisation of
its patented Maxigesic pain relief medicine platform around the world.
"The German analgesic market, worth US$564m*, is significant. We see success
with the oral dose prescription form of Maxigesic as but the first step in
this key European market. We are targeting an ever-larger share of this
market by growing sales of this form of the medicine and with line extensions
such as the intravenous form Maxigesic IV(R) and the oral liquid form.
The agreements in Pakistan and Vietnam cover Maxigesic IV(R) and are aligned
with the company's determination to build a strong distributor network across
Asia.
"With a combined population of almost 300 million* (2019) and a combined
analgesic market of US$492m*, Pakistan and Vietnam represent great potential
for Maxigesic IV(R). First registration will need to occur and then we
estimate first sales to occur in 2022," Dr Atkinson said.
AFT's agreement in Pakistan, which has a total analgesic market of US$184m*,
is with Excel Laboratories. In Vietnam, where the total analgesic market is
worth US$154m*, AFT has signed an agreement with Ben Tre Pharmaceutical Joint
Stock Company (Bepharco).
The agreements follow the registration of Maxigesic IV by the Therapeutic
Goods Administration in Australia and Medsafe in New Zealand. These
organisations are treated as reference regulators for many markets in South
East Asia and the Middle East.
"We have a number of transactions underway and it's great to finalise a
further three agreements, with more expected" said Dr Atkinson.
AFT will provide further detail when it releases its results for the half
year to 30 September 2019 on Thursday 21 November at 8.30am.
For more information:
Investor Media
Dr Hartley Atkinson, CEO Richard Inder
AFT Pharmaceuticals Ltd The Project
Phone: +64 9 488 0232 Phone: 021 645 643
Email: hartley@aftpharm.com Email: richard@theproject.co.nz
* Source: Statista, November 2019, Full year 2018.
About Bepharco Vietnam
Ben Tre Pharmaceutical Joint Stock Company, a company incorporated in Vietnam
and having its registered office at 6A3, 60 National Highway, Pht Tan ward,
Ben Tre Town, Ben Tre Province, Vietnam.
About Ever Valinject.
EVER Valinject GmbH founded in 1934, is a fully integrated specialty
pharmaceuticals company focused on the research, development, production and
commercialization of products in the areas of neurology, critical care,
anaesthesia and oncology with a global headquarters in Unterach, Austria.
About Excel Healthcare Laboratories Pakistan
Excel Healthcare Laboratories (Pvt) Ltd., a company incorporated in Pakistan
and having its registered office at D - 122 Block #4 Federal "B" Area,
Karachi -759950, Pakistan.
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:
https://www.aftpharm.com/
End CA:00344395 For:AFT Type:GENERAL Time:2019-11-18 08:30:19
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