AFT Pharmaceuticals (NZX.AFT, ASX.AFP) and Canadian speciality pharmaceutical company Biosyent Pharma Inc., today announce they have concluded an exclusive licensing and supply agreement that will see the launch of the Maxigesic pain relief medicine in Canada next year.
The agreement follows Health Canada’s recent approval of the tablet form of Maxigesic (known locally as Combogesic®), the first paracetamol and ibuprofen combination to be approved in Canada.
Under the agreement, BioSyent Pharma Inc. also has rights to additional forms of Maxigesic®/Combogesic® in Canada, where the market for analgesics is worth CAD$813 million1. Other forms include an oral liquid for paediatric use and an intravenous formulation for hospital use, both of which will require regulatory approval.
AFT Pharmaceuticals Chief Executive Dr Hartley Atkinson said: “This agreement, which will see Biosyent Pharma distribute the medication under AFT’s Combogesic® brand, paves the way for the Maxigesic platform to make its first entry into a North American market. It is an exciting opportunity for both companies.”
President and CEO of BioSyent, René Goehrum said: “We are pleased to add Maxigesic®/Combogesic® to our product portfolio and look forward to making this medicine available to Canadians.
“The management of pain continues to be a challenge for healthcare practitioners and patients, and we believe Maxigesic/Combogesic® will provide clinically-proven double-action relief from a wide range of pain. Combining oral analgesics into a single product improves compliance, safety and efficacy.”
For more information:
CFO, AFT Pharmaceuticals Ltd
Phone: +64 9 488 0232
Phone: 021 645 643
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 ww.aftpharm.com.
About BioSyent Inc.
Listed on the TSX Venture Exchange under the trading symbol “RX”, BioSyent is a profitable growth-oriented specialty pharmaceutical company focused on in-licensing or acquiring innovative pharmaceutical and other healthcare products that have been successfully developed, are safe and effective, and have a proven track record of improving the lives of patients. BioSyent supports the healthcare professionals that treat these patients by marketing its products through its community, hospital and international business units.