AFT Pharmaceuticals (NZX.AFT, ASX.AFP) has signed an exclusive Maxigesic IV® licensing and supply agreement for Bulgaria, Cyprus, the Czech Republic, Hungary, Romania and Slovakia, countries with a combined population of more than 53 million*.
The agreement is with the Cyprus based multinational pharmaceutical company, Medochemie, which earlier this year signed a licensing agreement for Maxigesic IV® for Ukraine and the nine countries of the Commonwealth of Independent States.
AFT Pharmaceutical’s Managing Director Dr Hartley Atkinson says: “We are delighted to further strengthen our partnership with Medochemie. It is a strong, dynamic partner in this region and its business teams have an excellent understanding of their local markets.”
Maxigesic IV® regulatory approvals in the six European countries covered by this agreement are expected to conclude in the next few months, with sales then expected in the 2021calendar year.
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.
For and on behalf of AFT Pharmaceuticals Limited by Malcolm Tubby, Chief Financial Officer.
For more information:
Dr Hartley Atkinson
Tel: +64 9488 0232
Tel: +64 21 645 643
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 programme forms the basis of its international sales strategy. For more information about the company, visit our website www.aftpharm.com.
Medochemie Ltd is a multinational pharmaceutical and consumer healthcare company headquartered in Limassol, Cyprus. Medochemie develops, licenses, manufactures, markets, and distributes branded generic and OTC products as well as their own brands in more than 107 countries.
* 2019 population. Source: Statista, 2020
** Daniels, S.E, Playne, R., Stanescu, I., Zhang, J., Gottlieb, I.J, Atkinson, H.C. (2019). Efficacy and safety of an intravenous acetaminophen/ibuprofen fixed-dose combination after bunionectomy: A randomized, double-blind, factorial, placebo- controlled trial. Clinical Therapeutics 41 (10): 1982-1995. Research sponsored by AFT Pharmaceuticals.