AFT Pharmaceuticals (NZX: AFT, ASX: AFP) today provides an update on recent progress it has made in international markets.
Maxigesic® Rapid key manufacturing agreement1
AFT has partnered with the US-based pharmaceutical manufacturer Microsize on a long-term supply agreement of micronized active pharmaceutical ingredients (APIs), critical components of AFT’s Maxigesic Rapid pain relief medicine.
The Microsize agreement will assist AFT to source sufficient materials to supply Maxigesic Rapid in a number of markets including the US and EU.
Maxigesic Rapid, which is under the Combogesic brand in many markets, is a fast-dissolving tablet formulation of AFT’s Maxigesic family of pain relief medicines. Maxigesic Rapid allows faster release of the active ingredients, especially the ibuprofen component of the medicine. The rapid formulation has a patent until 2039, issued and under examination, in a number of countries, including the US where the patent has been granted.
AFT Managing Director Dr Hartley Atkinson commented: “We are very pleased to work with Microsize which has considerable expertise in the micronization technology that is crucial for the new rapid release Maxigesic/Combogesic formulation.”
Microsize CEO TJ Higley commented: “We are excited to have been chosen as the commercial partner to supply the blended/micronized drug product intermediate for AFT.
“Our approach of using continuous blending technologies along with the largest micronization mills in the pharmaceutical space, make our offering ideal for this product’s expected annual volumes and supply chain requirements.
“The collaboration between our companies since the early days of formulation development through clinical batches has been nothing short of spectacular and we look forward to continued expansion of this relationship.”
Additional manufacturing capacities for new launches
AFT has formed additional manufacturing agreements with separate companies in Canada and Europe to expand manufacturing capacities to support the launch of Crystaderm® into China. The launch, the first AFT product to be launched in China, is planned for later in this 2024 year.
Dr Atkinson commented: “We are pleased to be putting these building blocks in place in order to accelerate our international expansion plans. In larger markets like China, it is important to have sufficient manufacturing capacity to support a launch.”
Further Hikma agreement for Maxigesic/Combogesic IV2
AFT has also recently expanded its co-operation with Hikma Pharmaceuticals to extend its license for Maxigesic/Combogesic IV, the intravenous form of the pain relief medicine, to Saudi Arabia, Iraq, and Jordan. Hikma is the licensee of the medicine in the US where it was recently launched.
Mazen Darwazah, Hikma’s Executive Vice Chairman and President of Middle East and North Africa (MENA), said: “Our agreement with AFT Pharmaceuticals for Combogesic® IV – an important alternative for the treatment of acute pain and fever – is an important milestone in delivering on our purpose of putting better health, within reach, every day.
“As a leading healthcare company in MENA, we continue to expand our pipeline in growing therapeutic areas and are committed to partnerships with global players to expand our portfolio of high-quality medicines to patients in the region.”
AFT Pharmaceuticals affiliates progress
AFT’s UK affiliate, AFT Pharmaceuticals UK has recently made its first launches into the UK, including Combogesic tablets into Boots and Combogesic IV to hospitals. Additional launches are planned during this 2024 year.
The group recently formed AFT Pharmaceuticals Canada and AFT Pharmaceuticals US in order to further support product launches in those markets. First product launches by our affiliates in both markets are planned this 2024 year.
It has also acquired an existing product license in one European Nation for a niche medicine which is being discontinued by a multinational pharmaceutical company. This medicine is on the European Medicines Agency list of essential medicines and AFT looks to seek approval in additional EU Nations with sales to commence this 2024 year. To support the commercialization of this and future products, AFT Pharmaceuticals Europe has been strengthened with the hiring of a Quality Manager based in Ireland.
Released for and on behalf of AFT Pharmaceuticals limited by Malcolm Tubby, Chief Financial Officer.
For more information:
Investors
Dr Hartley Atkinson
Managing Director
AFT Pharmaceuticals
Tel: +64 9488 0232
Media
Richard Inder
The Project
Tel: +64 21 645 643
Footnotes
1.https://www.microsize.com/wp-content/uploads/2024/02/Microsize-AFT-Supply-Agreement-PR._final_2-28-2024-1.pdf
2.https://www.hikma.com/news/hikma-expands-its-agreement-with-aft-pharmaceuticals-for-the-commercialisation-of-injectable-pain-medication-combogesic-into-the-saudi-jordanian-and-iraqi-markets/
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