AFT Pharmaceuticals eyes 'multi-billion-dollar markets' for products still in development

AFT Pharmaceuticals says its portfolio of projects opens the business up to multi-billion-dollar market opportunities.

The maker of Maxigesic said it had eight patented projects, 24 off-patent injectables and a range of other projects in the early stages of commercialisation.

Managing director Dr Hartley Atkinson said the company had a record of successfully developing and commercialising innovative medicines that delivered returns to shareholders.

He said the company had grown 17 percent year on year and expected to see that to continue as the projects under development hit the market, though it will take some time.

"It's just classic pharma. It takes time to do the clinical studies and that side of things, which is well underway.

"Really, these products can access potentially multi-billion-dollar markets, and that's really what we're aiming at. We're not trying to slow down; we're trying to ramp things up."

He said the research and development costs were funded from its retained earnings.

"We've always funded our R&D out of retained earnings that we make from selling other existing products, and the plan is that we will carry on and fund them in the same manner."

Atkinson said the company was also investing more into its market hubs.

"The one we're developing at the moment is the United States, which is the most complex one. But certainly the UK and Canada and South Africa, Singapore, Hong Kong, New Zealand, Australia are all well underway and well in progress."

Those hubs would look after smaller markets with standard licensing agreements.

"Currently, we sell in 87 countries around the globe, so we have got pretty good global reach even at the moment."