AFT
29/02/2016 08:31
GENERAL
PRICE SENSITIVE
REL: 0831 HRS AFT Pharmaceuticals Limited
GENERAL: AFT: Maxigesic Licensing Deal in 69 Additional Countries
AFT has reached agreement with Swiss headquartered multinational
pharmaceutical company, Acino Pharma AG ('Acino'), to out-license the product
line of its patented combination painkiller, Maxigesic.
The agreement extends the sale of Maxigesic to a further 69 countries across
the Middle East, Levant, Central America, the Carribean, Africa, and North
Africa.
The market sizes covered by these territories are significant. The tablet
market for the IMS defined paracetamol and ibuprofen products alone (i.e. not
including oral liquids, sachets, or IV products) aggregates to at least
US$500 million annually.
AFT Managing Director, Dr Hartley Atkinson, says that he is pleased to
announce substantial progress towards the objectives outlined in the
company's Product Disclosure Statement issued last year as part of the
company's float on the NZX and ASX Main Board.
"Out-licensing of our key innovative products, like Maxigesic, forms the
backbone of our company growth plans," says Dr Atkinson. "This transaction is
a good example of AFT just getting on with the job by partnering with one of
the most well-regarded over-the-counter pharma companies in the world,
Acino."
Jostein Davidsen, CEO Acino Group, says "We see partnering as a key growth
driver for Acino's strategy and we are interested in novel products while
providing our partners access to new customers in emerging markets. Adding
the Maxigesic fixed combination formulations to our product portfolio will
strengthen our offer in one of our core therapeutic areas - pain and
rheumatology - as these formulations are perfectly complementary to our
existing well established brands,"
Ends
End CA:00278468 For:AFT Type:GENERAL Time:2016-02-29 08:31:33
