AFT Pharmaceuticals completes first deal in South America
Market and Media release 20 June 2019
AFT Pharmaceuticals’ completes first deal in South America
AFT signs Maxigesic® Licensing Agreement with Barcelona-based Galenicum Vitae S.L.U for Colombia, Peru and Chile.
AFT Pharmaceuticals today announces it has established a beachhead in South America after signing a licensing agreement with Galenicum Vitae.
Galenicum is a Barcelona-based pharmaceutical company with offices across South America and around the globe. It plans to market, sell and distribute AFT’s patented combination analgesic, Maxigesic®, in Colombia, Peru and Chile. Products covered by the new agreement include tablets and oral liquid for paediatric use.
AFT Managing Director, Dr Hartley Atkinson, says: “We are pleased to be making progress on licensing agreements in Latin America. These agreements will be a welcome addition to the Central American markets already licensed, with sales now underway - or due to start – in the current financial year in El Salvador, Guatemala, Honduras, Costa Rica and Nicaragua.”
Dr Atkinson said AFT expects registration approvals in the territories covered by the Galenicum agreement to occur prior to the end of 2021 with sales occurring in the following year.
Galenicum Vitae’s CEO, Sergio Malagrida, said: “For us, including a product such us Maxigesic® in our portfolio represents a great opportunity to provide an innovative product reinforcing our market offering. We believe that this will be the initial launch of a future greater line of products”.
Peru, Colombia and Chile have a combined population of almost 100 million people and the combined retail current value of the over-the-counter pain relief market is NZ$749 million [Euromonitor, 2018.].
Maxigesic® is a patented, fixed ratio of ibuprofen for anti-inflammation management and paracetamol (also called acetaminophen) for pain management.