Company Overview and News
LONDON, UK / ACCESSWIRE / December 13, 2017 / AFT Pharmaceuticals (NZSE: AFT) 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.
New Zealand shares fell, led by A2 Milk and Kathmandu Holdings while Ryman Healthcare and Stride Property Group gained following their results. (8-0)
New Zealand shares fell, led by A2 Milk and Kathmandu Holdings, while Ryman Healthcare and Stride Property Group gained following their results. (8-0)
The maker of the Maxigesic painkiller has narrowed its half-year loss because of improving revenue in Australia.
AFT Pharmaceuticals, which manufactures the Maxigesic painkiller, narrowed its first-half loss and said it is still on track to return to profitability this financial year or the next as it increases the number of markets where its products are sold.
AFT Pharmaceuticals, which manufactures the Maxigesic painkiller, reported a full-year loss in the year to March 31 but expects to significantly narrow those deficits this year and return to profitability in the 2018/19 period.
AFT Pharmaceuticals, which manufactures the Maxigesic painkiller, raised new funds through a redeemable share issue to fuel international growth and announced plans to raise more capital in a share purchase plan.
New Zealand shares fell, led lower by Sky Network Television and Spark New Zealand, while Auckland International Airport gained after its first-half profit rose 19 per cent.
AFT Pharmaceuticals, which manufactures the Maxigesic painkiller, expects annual sales to meet analysts' forecasts of about $70 million and has adjusted its loan covenant with shareholder Capital Royalty Group.
The TGA has confirmed an interim decision that all medicines containing codeine be rescheduled to prescription-only medicines effective 1 February 2018. These products are being up-scheduled due to the risk of dependence and adverse events compared to safer analgesic products like Maxigesic. Maxigesic is a codeine-free analgesic that uses a patented combination of paracetamol and ibuprofen. AFT launched Maxigesic in Australia in 2014 and the brand is now becoming established with pharmacists and consumers.
Milford Asset Management will close out its recently launched private equity fund earlier than planned after finding more investor interest than expected.
New Zealand shares rose as Tegel Group Holdings continued its rebound from last week's record low while Warehouse Group dropped after weaker earnings guidance.
New Zealand's AFT Pharmaceuticals expects to benefit from news that all medicines containing codeine will be prescription-only in Australia from February 1, 2018.
NZ shares rose, snapping five days of decline, with Tegel Group Holdings and A2 Milk Co recovering from being sold off earlier in the week, while Vista Group International and Infratil fell.
AFT Pharmaceuticals, the Auckland-based drug-maker, will have to re-apply to Pharmac for a heart medicine supply contract it won in July 2015 after suffering disrupted supply over the past year.
2017-12-11 - Wilton
2017-12-11 - Wilton
2017-12-03 - Wilton
2017-11-27 - Wilton