From ‘go’ to global in under 20 years
Husband and wife team Hartley and Marree Atkinson form AFT Pharmaceuticals, the small Kiwi company that dreamed big. In August that year, we celebrate a huge milestone – our first sales.
We acquire our first wholly owned AFT Pharmaceutical products. We also acquire part ownership of two South African pharmaceutical companies and a wholesaler – these are successfully sold in 2004.
AFT Pharmaceuticals is established in Australia. A big move for us back then, but Australia is now our second home. We also begin our own drug development work and file our first two global patents.
Our little New Zealand company hits the big time. We sign a joint venture drug development agreement with a company in the European Union, expanding our global reach phenomenally.
So does South East Asia
AFT secures an out-licensing deal for three of our own products in South East Asia. By December, our first product launches are underway in Malaysia. Things are on the up and up!
Arise Maxigesic® AFT’s world-first combination analgesic is launched in New Zealand. This groundbreaking pharmaceutical is a roaring success and is soon out-licensed to Eastern Europe.
Group sales increase to NZ$50 million. We launch preservative-free HYLO-FRESH and HYLO-FORTE eye drops in Australia
and New Zealand
, which is at the forefront of our strong growth in the Eye Care category over the following years.
We keep on expanding. By now, AFT Pharmaceutical’s distribution and out-licensing agreements have expanded significantly to include 42 countries in Australasia and around the globe.
Maxigesic® is launched in Australia. We discover a major formulation error in competitive cold and flu products, published globally. Milford Asset Management (NZ) and Capital Royalty (USA) collectively invest US$12M in equity.
Things gets big: real big
AFT Pharmaceuticals is publicly listed on the ASX and NZX stock exchanges. We commission independent surveys showing widespread concerns about the use of codeine in over-the-counter painkillers.
Our first Maxigesic line extension
Maxigesic® PE is launched in New Zealand – a patented combination of paracetamol, ibuprofen and phenylephrine that provides triple action cold, flu and sinus relief. We also introduce NovaTears®; unique preservative-free eye drops specifically designed for evaporative dry eye disease.
Challenging times, strong results
The COVID-19 pandemic dominates headlines around the world, but AFT doesn’t stand still throughout this challenging year for global health care. We launch Maxigesic® IV in Australia and New Zealand, while licensing deals for international markets continue to grow. NovaTears® + Omega-3 is an exciting addition to our growing eye care product range. And to top it all off, AFT breaks through the $100M revenue barrier to achieve record company earnings.
It has been a busy start to the year with a number of new product launches in Australia and New Zealand to help drive further growth for AFT Pharmaceuticals.