hi we just got a mention in the Sydney Morning Herald, markets live section
12.49pm
Pharmaceuticals race to treat CoVID-19
By Lucy Battersby
AFT Pharmaceuticals this morning confirmed guidance of between $18.8 million and $21.8 million with the final result expected to be at the mid to upper end. This is thanks to increased sales of cold and influenza related medicines.
AFT has seen strong demand for its injectible antibiotics and vitamin C medicines.
"Meanwhile, international demand for the company's Maxigesic medicines has also been strong and we have been working with our international partners to ensure an uninterrupted supply...this is not without challenges, given disruption to global trade routes caused by the virus,'' the company told shareholders this afternoon.
Managing director Hartley Atkinson says it sold $1.2 million of Vitamin C sachets in New Zealand in three days, equivalent to a full year of sales. It has also seen strong demand from hospitals for its pneumonia antibiotic treatment Piptaz.
"We have seen strong demand for this product and our other injectible antibiotics as our Australian based customers have increased stocks in preparation for the possibility of a more serious outbreak,'' Dr Atkinson said.
AFT shares are very tightly held and barely trade. Shares have been at $3.10 for several weeks. Meanwhile Mesoblast shares are up 25 per cent to $2.48 today after it announced plans to test its stem cell product as a potential COVID-19 treatment.
"Mortality in COVID-19 infected patients with the inflammatory lung condition acute respiratory distress syndrome (ARDS) is reported to approach 50 per cent, and is associated with older age, co-morbidities such as diabetes...current therapeutic interventions do not appear to be improving in-hospital survival,'' Mesoblast told the ASX this morning.
Its Remestemcel-L could help, and is currently being reviewed by US regulators.
ps good luck all and so happy to see the yankee back
cheers
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