Pain management is one of the most fascinating arms of medicine. Post-operative pain management, even more so.
Practitioners must strike a balance to ensure that acute pain doesn’t turn into chronic pain, and that a patient’s dependence on analgesia is temporary.
The many issues with opioid based pain medications are well documented and, with a global shift towards alternatives, AFT Pharmaceuticals’ (ASX: AFP) Maxigesic is enjoying a well timed market entry.
The Company has today announced that licensee Ever Pharma has launched an intravenous form of Maxigesic, their patented, non-opioid pain relief medicine in two new countries- Germany, which presents the largest European pharmaceutical market for post operative pain relief, and Austria.
The novel, patented non-opioid treatment for post-operative pain comprises a unique combination of paracetamol and ibuprofen solution for infusion. The medication has European patents extending to 2035.
The announcement highlights AFT Pharma’s progress in commercialising Maxigesic around the world. The medication is now licensed in 100 countries and registered in another 24. The two new additions make the medication available for sale in 5 countries including Australia, New Zealand and, the United Arab Emirates.
Managing Director of AFT Pharmaceuticals Dr Hartley Atkinson said: “The launch of Maxigesic IV in Germany, the largest pharmaceutical market in the EU, and Austria is a significant milestone in the commercialisation of the medicine.”
“Annually, over 5.2 million surgical procedures are performed in Germany, and the market for postoperative pain in Germany is expected to grow to $166.5 million USD by 2028 at a CAGR of 11.58% from 2017-2028.
“The launch represents the start of the roll-out across Europe, where we see significant potential for the medicine. Indeed, while sales of the medicine in the current financial year are not expected to be material, we see a rapid ramp up as we launch the medicine across multiple markets including larger markets such as the US.
“Presently we are completing Maxigesic IV registrations in Denmark, Finland, Iceland, Ireland, Greece, Norway and Sweden. We will then be working to launch in all these territories during the current financial year.
“We also continue to strengthen our base in Europe, in November last year we created AFT Pharmaceuticals Europe and appointed a Director, Eddie Townsley. Meanwhile, one of our business development staff is moving to London in late August to further support and drive our European sales.”
Samantha Freidin is a business journalist at Emerald Financial whilst also completing a Masters of Marketing and Digital Communications at Monash University.
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