AFT Pharmaceuticals Ltd
(ASX:AFP)Share Price and News
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About AFT Pharmaceuticals
AFT Pharmaceuticals is a drug maker that is based in New Zealand and dual-listed on the ASX and NZX. It is best known for its proprietary medicine Maxigesic®, but also in-licenses and distributes over 100 other pharmaceutical products.
Started by Hartley and Marree Atkinson in 1998, AFT began as a small local business that imported and distributed other company's medicines. In 2009, the company commercially launched Maxigesic® and it is licensed in over 100 countries all up, in tablet, IV and oral (i.e. drink) forms, for the treatment of mild to moderate pain experienced post-operations.
For many years, the USA was not a country Maxigesic® was approved in, but the tablet form was approved in March 2023 and the IV form in October 2023. It is distributed in the US by Hikma Pharmaceuticals and AFT is entitled to milestone payments and a profit share on sales under its licensing deal.
In FY24 (the 12 months to March 31, 2024), AFT Pharmaceuticals recorded $195.4m, up 25% in 12 months and nearly quadruple what it was a decade ago, and it made a $15.6m post-tax profit (up 47%). When it listed in 2015, the company had been profitable, but moved to a more aggressive (and loss-making) R&D-led growth strategy. With the company having risen to the next level, the company pivoted to profitability again, and has reached that highmark.
Future Outlook of AFT Pharmaceuticals (ASX:AFP)
AFT has a bright future ahead of it having just launched Maxigesic® in the US, and continuing to launch sales of other products - 61 are planned in Australasia over the next couple of years. The company is about to hit its target of $200m in annual revenue and next aims to reach $300m in revenue. The future appears bright for AFT.
Is AFT Pharmaceuticals (ASX:AFP) a Good Investment?
Looking at AFT Pharmaceuticals’ recent performance and strategic moves, the company is an attractive investment. With revenue reaching nearly $200m in FY2024, AFT is on an upward trajectory. The company’s expansion into major markets and the launch of key products position it as a promising option for investors who value innovation and strategic growth.
Our Stock Analysis
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Frequently Asked Questions
AFT Pharmaceuticals stands out by developing unique products that address unmet health needs, enhancing patient care around the globe.