Maxigesic is now licensed in the Russian Federation

Market release 28 September 2018 AFT Pharmaceuticals' painkiller Maxigesic is now licensed in the Russian Federation, together with Hong Kong and Taiwan taking licensed countries to 127. AFT Pharmaceuticals ('AFT') has extended its existing Maxigesic commercialization agreements to add the Russian company, Nearmedic Pharma LLC ('Nearmedic') as its partner for the multi-product line of its patented combination painkiller, Maxigesic, in the Russian Federation. AFT Managing Director, Dr Hartley Atkinson, says that he is very pleased to further expand the company's partnerships by reaching agreement with Nearmedic. "Nearmedic is a strong, dynamic partner as its business teams have an excellent understanding of and track record in the markets of the Russian Federation. Nearmedic is an innovative and rapidly growing company with great OTC and RX market access in this significant marketplace," adds Dr Atkinson. Maxigesic consists of a patented, fixed ratio of ibuprofen for anti-inflammation management and paracetamol (also called acetaminophen) for pain management. Maxigesic products covered by the new licensing agreement include tablet, oral liquid, hot drink, fast-dissolve and dry powder sachets. "We believe that the Russian Federation represents good potential for Maxigesic as the market defined by IMS Health for paracetamol tablet and ibuprofen tablet sales in the Russian Federation is close to an aggregate of US$215M making it the fourteenth largest market in the world for this product category. Maxigesic product registrations are planned to begin in near future and we anticipate sales to commence within the FY20 time period." General Director of NEARMEDIC Professor Vladimir Nesterenko commented: "The main goal of the NEARMEDIC company is to protect people's health, by preserving and supporting the biological systems that have evolved over millions of years of evolution, through the introduction of something new based on both medical R&D traditions and the human organism. We are sure that a qualified and socially responsible leadership is today the key factor that contributes to the favorable development of business. Using an innovative approach to create and commercialize our products, NEARMEDIC sees the positive development prospect of partnership with international companies, like AFT Pharma, that share our principles. The Maxigesic product line is certainly a breakthrough in solving problems associated with pain syndrome. The international scientific research proves the highest effectiveness of this drug while emphasizing the high level of the safety of treatment. NEARMEDIC company believes in the success of Maxigesic on the Russian market and will be glad to use its proficiency and expertise to ensure patients' access to this medicine". Dr Atkinson said: "Currently Maxigesic is sold in 14 countries including recent successful launches in Malaysia, Singapore, Ireland and Central America, with further launches anticipated for at least 15 countries during the second half of FY19. AFT will augment the emergent revenue streams also with our joint activities in Russia". AFT secures two new countries in Asia AFT's focus on growing the lucrative Asia market, by establishing a strong distributor network has advanced by securing new partners in both Taiwan and Hong Kong. In Hong Kong, Maxigesic will be distributed by DKSH with a launch planned for early 2019. The Hong Kong paracetamol and ibuprofen market size is circa US$12M. In Taiwan where the market size is US $62M, Chung Mei Pharmaceutical Co. Ltd will drive the registration and launch of Maxigesic in that market. This will establish the Maxigesic brand in more regions throughout Asia with Maxigesic currently launched in Singapore and Malaysia through AFT affiliates in those countries. End of release For more information: Hartley Atkinson Managing Director, AFT Pharmaceuticals Ltd Phone +64 9 488 0232 About Nearmedic Pharma LLC Nearmedic, a Russian based pharmaceutical, biotechnology and medical company founded in 1989 at the Gamaleya Research Institute for Epidemiology and Microbiology of the Russian Academy of Medical Sciences. Today Nearmedic is an innovative company with more than 1500 employees, the company's investment portfolio contains more than 20 projects, including a regenerative platform, an innovative original candidate to medicine against pulmonary tuberculosis including its drug resistant forms (collaboration with EPFL), a drug number 1 in the antiviral segment since 2014 in Russia and HID panels for molecular genetic personal identification. The company also supplies laboratory equipment by leading world manufacturers to the domestic market, provides its maintenance and servicing, and develops a network of multidisciplinary clinics to provide integrated medical care. About Ferghana Partners Ferghana Partners (New York, London, Boston) initiated the Russian transaction and provided strategic/financial advisory services to AFT Pharma. End CA:00324594 For:AFT Type:MKTUPDTE Time:2018-09-28 10:15:03