NZ’s AFT targets $15 billion pain relief market
Friday, 26 September 2008
New Zealand’s AFT Pharmaceuticals targets $15 billion pain relief market
AFT Pharmaceuticals, a 100 per cent New Zealand owned company, has researched and developed a novel therapy which represents a breakthrough in pain relief.
Progress for the international launch of the unique pain relief (analgesic) product (combining ibuprofen and paracetamol) - is well underway.
“Until recently we have kept a tight lid on this product,” says Dr Hartley Atkinson, owner and managing director of AFT Pharmaceuticals.
“But now we are ready to announce the best kept secret in the industry and are in the process of seeking a multinational licensing partner,” he says.
A phase three clinical trial in Auckland has been completed and AFT Pharmaceuticals is now working to file for marketing approval in overseas markets starting in 2009. Patent applications have also already been made in a significant number of overseas markets.
Dr Atkinson is understandably buoyant about the prospects for the pain relief product.
“The global market for analgesics is in excess of NZ$15 billion,” says Dr Atkinson.
“This represents a huge opportunity for our New Zealand pharmaceutical company and in fact the industry at large.”
Already AFT Pharmaceuticals has successfully introduced a novel therapy called Maxiclear, an allergic rhinitis (hayfever) product.
Maxiclear is a breakthrough product for hayfever relief which combines a non-sedating antihistamine and a nasal decongestant in one tablet. Uniquely it does not contain pseudoephidrine which means there is no criminal interest in stealing this product from pharmacies which relieves the pharmacy owners of this burden.
AFT Pharmaceuticals is a NZ$25 million turnover company with existing pharmaceutical business in New Zealand and Australia.