AFT Pharmaceuticals Ltd (AX:AFP) is a New Zealand-based specialty pharmaceutical company that currently sells over 130 prescription specialty generics and OTC products through its own salesforce in New Zealand, Australia and South-East Asia. It has been expanding its geographic footprint thanks mainly to Maxigesic, its paracetamol (acetaminophen)/ibuprofen combination product. Maxigesic is currently being sold in 10 countries and has distribution agreements in 124 in total. Further Maxigesic launches in the next two to three years should help drive revenues and margins.
Stellar growth in Australia
Revenue in Australia was up 38% in the first half of FY18 compared to the first half of FY17 thanks in large part to Maxigesic sales doubling as well as strong hospital sales. Growth is expected to continue to be robust as patients switch from codeine containing products (which will no longer be available over the counter after 1 February 2018 due to re-scheduling) to Maxigesic.
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