Maxigesic licensing expands to 124 countries
AFT Pharmaceuticals has added to its existing agreements in concluding an alliance with private European pharmaceutical company Amicus SA Switzerland.
The agreement is for licensing of the product line of its patented combination painkiller Maxigesic in three regions: the Baltics (Latvia, Estonia and Lithuania); Central Eastern Europe (Czech Republic, Hungary, Bulgaria, Romania and Slovakia); and most of the Balkans (Croatia, Slovenia, Serbia, Montenegro, Bosnia and Macedonia).
“We had previously disclosed our target to sell Maxigesic in 100 countries in our product disclosure statement,” said AFT chief executive officer Dr Hartley Atkinson.
“This agreement, together with other recent out-licensing agreements, means that Maxigesic is now licensed in 124 countries around the world. Getting these agreements in place shows that we are expanding on our planned pathway to deliver on our sales targets.”
Currently Maxigesic is sold in eight countries, including Australia and New Zealand. AFT has previously informed the market that it anticipates registration and product launches covering existing agreements will occur on a phased basis in these countries according to the following approximate schedule: around one-third in the 2018 financial year, around one-quarter in both the 2019 and 2020 financial years, and the balance in the 2021.
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 this new agreement will include tablet, sachet, oral liquid, fast-dissolve and dry powder sticks.
Amicus chief executive officer Jean-Michel Lespinasse commented that: “Amicus was honoured to be selected by AFT as its long-term licensing partner across a large central European territory. We are excited to be able to roll-out a novel pain reliever with both an efficacy and safety claim,”
In May, AFT Pharmaceuticals announced an agreement with a French pharmaceutical company to out-license the product line of Maxigesic to France, Monaco, Andorra and some French dependencies.
At that time, French labour laws prohibited AFT from disclosing the name of the French company. In compliance with French law, AFT can now inform the market that the agreement is with the French pharma company Laboratoires Expanscience headquartered in Courbevoie, France.
The New Zealand regulatory agency Medsafe, through its Medicines Classification Committee, is currently also considering a proposal to harmonise New Zealand regulation with Australia by up-scheduling codeine-based painkillers to prescription-only based on the risks of misuse and addition.