AFT Pharmaceuticals (ASX:AFP) has signed an exclusive distribution agreement with Austria’s Ever Valinject for the commercialisation of Maxigesic IV, an intravenous form of its patented analgesic, in a significant portion of Western Europe.
AFT Managing Director, Dr Hartley Atkinson, says the agreement with Ever builds on AFT’s existing partnership over other Maxigesic dose forms. It will see Ever drive the launch of Maxigesic IVin Germany, Italy, France and Austria where the total analgesic market is worth US$585m, US$545m, US$587mand US$125mrespectively.
Market data forecasts from an independent market research company, DelveInsight predicted that by 2028 Maxigesic IVcould make up just under 16% of the US$553m postoperative analgesic market in Germany, France, Italy, Spain and the UK, indicating an estimated sales volume of just under US$90m for the top 5 markets in Europe.
Ever Valinject is a strong, dynamic partner and its sales teams are highly experienced at selling in the hospital sector including specialty and added value injectable products. Ever has an excellent understanding and track record in these markets,” Dr Atkinson said.
“With a combined population of over 219 million(2019), we believe that these markets represent great potential for Maxigesic IV.
“We expect first sales of Maxigesic IVin Germany and Austria in late 2020, following the registration of the Maxigesic IVin 18 European countries in May 2020. Further regulatory filings will be required to finalise registrations in Italy and France prior to being able to launch in these additional countries.”
Meanwhile, Dr Atkinson says AFT has seen an uptick in sales and market share since the outbreak of the Covid-19 pandemic in a variety of its OTC product categories, ranging from traditional cold and flu medicines through to eyecare products.
The increases were particularly strong ahead of, and during, the Covid-19 lockdowns. They have since moderated as the lockdown restrictions eased but still leave AFT’s portfolio of medicines in a stronger position than they were at the same time last year.
“Our Australasian OTC medicine portfolio represents a core strength of the company. It is an attractive and growing business in its own right, but it also provides a launch pad for AFT to commercialise its extensive intellectual property around the world,” Dr Atkinson said:
“We are very pleased with the sales progress and we are delighted to be able to supply products that deliver real health benefits to customers during these difficult times.”
