- AFT Pharmaceuticals has signed an exclusive Maxigesic IV licensing agreement for eight new European markets
- The agreement, negotiated and sealed entirely online due to COVID-19 restrictions, is with France-based Aguettant
- Maxigesic is a patented intravenous formulation for use post-operatively in hospitals when a patient is not able to take a medicine orally
- The company expects sales of the medicine in the new territories to begin in early 2022
- AFT is down 5.68 per cent, trading at $3.65
AFT Pharmaceuticals has signed an exclusive Maxigesic IV licensing agreement for eight new European markets.
Maxigesic is a patented intravenous formulation developed as a line extension to Maxigesic tablets, for use post-operatively in hospitals when a patient is not able to take a medicine orally.
A major clinical trial in the U.S. found that Maxigesic IV provided significantly better pain relief than either paracetamol IV or ibuprofen IV alone in the same doses.
The agreement, negotiated and sealed entirely online due to COVID-19 restrictions, is with France-based Aguettant.
“We are delighted to have reached this agreement with Aguettant, which specialises in injectable pharmaceuticals and has a strong sales record in the hospital sector across the EU. “The agreement extends Maxigesic IV’s footprint across Europe and significantly expands the market for the medicine,” said AFT Pharmaceuticals Managing Director, Dr Hartley Atkinson.
Maxigesic will now be available in 20 of the 27 European member states, including Germany, France, Italy, Spain and the U.K.
Through the agreement, Aguettant gains the rights to the medicine in the five Nordic markets of Finland, Norway, Denmark, Sweden and Iceland, plus Portugal and the Netherlands.
AFT’s Managing Director says in Spain alone, more than 2.5 million surgeries are performed annually, while a further 1.1 million surgical procedures are completed in Nordic countries.
“The potential for Maxigesic IV and other dose forms of the medicine is significant. The market for post-operative pain, which is a subset of Maxigesic’s total addressable market, is growing rapidly and is forecast by independent market research to reach US$553 million in 2028 across the five major markets of Europe, up from US$178 million in 2019,” he added.
AFT expects sales of the medicine in these territories to begin in early 2022.
Following the registration of Maxigesic IV in Australia and New Zealand in 2019, AFT has now licensed the medication in more than 90 countries, with a tablet form of the product licensed in more than 125 countries.
AFT is down 5.68 per cent, trading at $3.65 at 1:40 pm AEDT.