AFT Pharmaceuticals (ASX.AFP) has licensed Maxigesic IV into Colombia, Peru, Chile, Ecuador, Bolivia, and Uruguay, extending the medicine’s addressable market in Latin America and the Caribbean to 17 countries.
The agreement with Pharma Bavaria International builds on an agreement signed in February 2020, that saw Maxigesic IV licensed to the German company in 12 countries in Central America and the Caribbean including Panama, Costa Rica, El Salvador, Honduras, Nicaragua, Guatemala, Belize, the Dominican Republic, Haiti, Trinidad & Tobago, and Cuba.
Headquartered in Germany with a strong international focus, Pharma Bavaria has dedicated itself to bringing novel pharmaceuticals to high growth regions. Following this agreement, it now has the potential to take Maxigesic IV to a significant population across these territories.
AFT Pharmaceuticals Chief Executive Dr Hartley Atkinson said the Latin American markets are significant and growing with one recent report suggesting the market for pain management medicines would grow at an average rate of 3.5% a year until 2027.
The agreement deals we have achieved over the last 12 months lifts the Maxigesic IV coverage to over 100 countries. The focus now moves to accelerating registrations and launches over the next 24 months,” Dr Atkinson said.
Maxigesic IV (Paracetamol 1000mg+ Ibuprofen 300mg solution for infusion) is an intravenous formulation developed as a line extension to Maxigesic tablets, for use post-operatively in hospitals where patients cannot take an oral medicine.
A major Phase 3 clinical trial conducted in Texas and Maryland USA found that Maxigesic IV provided significantly better pain relief than either paracetamol (acetaminophen) IV or ibuprofen IV alone in the same doses.
Following on from registration of the intravenous formulation in Australia and New Zealand in mid-2019 and its registration in European markets in mid-2020, AFT has continued its efforts to out-license the medicine around the world.
