New Zealand codeine restrictions set for November

AFT Pharmaceuticals (NZX:AFT, ASX:AFT) today welcomes Medsafe's announcement that all codeine and codeine-containing medicines will become prescription only from 5 November 2020. Medsafe, which made the decision to reschedule all codeine and codeine-containing medicines last year, announced the timetable to give effect to the decision in a letter to the pharmaceutical industry released earlier this week. The letter is attached to this release. AFT Pharmaceuticals Managing Director Dr Hartley Atkinson said: "We are pleased Medsafe has set a firm date for the rescheduling of codeine. We expect the move, which is aimed at reducing codeine overdoses and poisonings, will increase demand for alternative pain relief treatments including, AFT's patented paracetamol and ibuprofen combination treatment Maxigesic." "In the 12 months after Australia rescheduled codeine containing medicines in 2018, sales of Maxigesic tablets increased by more than 50%. While it is unclear whether the New Zealand market will respond in a similar way, we expect the move to assist the growth of Maxigesic in New Zealand in the current financial year." - Released for and on behalf of AFT Pharmaceuticals limited by Chief Financial Officer Malcolm Tubby For more information Investors Media Dr Hartley Atkinson Richard Inder Managing Director The Project AFT Pharmaceuticals +64 21 645 643 Tel: +64 9 488 0232 About AFT Pharmaceuticals AFT is a growing multinational pharmaceutical company that develops, markets and distributes a broad portfolio of pharmaceutical products across a wide range of therapeutic categories which are distributed across all major pharmaceutical distribution channels: over the counter (OTC), prescription and hospital. Our product portfolio comprises both proprietary and in-licensed products, and includes patented, branded and generic drugs. Our business model is to develop and in-license products for sale by our own dedicated sales teams in our home markets of Australia and New Zealand and in certain Southeast Asian markets, and to out-license our products to local licensees and distributors to the rest of the world. End CA:00357014 For:AFT Type:MKTUPDTE Time:2020-07-29 08:30:09