New agreement for AFT Pharmaceuticals with Belgian Pharma

23 September 2016

New agreement for AFT Pharmaceuticals with leading Belgian Pharma: Maxigesic now licensed in additional 2 countries in Europe to reach 111 countries globally

AFT Pharmaceuticals (‘AFT’) has executed an alliance agreement with privately-owned pharmaceutical company, Therabel Pharma NV (‘Therabel’), to license the product line of its patented combination painkiller, Maxigesic, to Belgium and Luxembourg.

Maxigesic consists of a patented fixed ratio of ibuprofen for anti-inflammation management and paracetamol (also called acetaminophen) for pain management. Maxigesic products will cover tablet, sachet, oral liquid, fast-dissolve and other formulations.

AFT Managing Director, Dr Hartley Atkinson, says that he is pleased to announce further progress towards the objectives outlined in the company’s Product Disclosure Statement issued last year.

“We had previously disclosed our target to sell Maxigesic to 100 countries in the disclosure statement. As a result of this latest partnership with Therabel, we now have now increased agreements to cover 111 countries. Although we will need to complete product registrations in Belgium and Luxembourg and then commence sales in these countries, getting the commercial agreements in place is a key step in the process. We believe that Belgium and Luxembourg represent good potential for Maxigesic as the market defined by IMS Health for paracetamol and ibuprofen tablet sales in those countries is in excess of US$130M and Therabel's strong local market position is an excellent route to sales there."

“We are delighted to sign this new alliance agreement with AFT. Maxigesic will perfectly complement our product franchise and will enhance our historical presence in Pain/inflammation management,” says Jean-Michel Robert, Director of the Board of Therabel.

Ferghana Partners (New York, London, Boston) initiated these transactions and provided strategic/financial advisory services to AFT Pharma.

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