AFT signs agreements to new markets worth more than US$1bil

Market and Media release 18 November 2019


AFT signs agreements to new markets worth more than US$1billion

AFT Pharmaceuticals (NZX; AFT, ASX; AFP) today announces it has signed
licensing agreements for its Maxigesic pain relief medication in Germany,
Pakistan and Vietnam, countries with pain relief markets worth more than US$1
billion*.

In Germany, where AFT has already achieved regulatory approval for
Maxigesic tablets, the agreement represents the last significant hurdle to
making first sales in an analgesic market worth US$564m*.

The agreement, with the German affiliate of Austria’s EVER Valinject GmbH,
covers the prescription rights for Maxigesic, potentially creating the
opportunity for AFT to license the over the counter rights separately.

AFT expects first sales of Maxigesic in the German market in the 2020 calendar
year. Sales in Pakistan and Vietnam are expected in 2022 and are still
dependent on securing regulatory approvals.

AFT Managing Director Dr Hartley Atkinson, says the agreements represent
further significant steps in AFT’s strategy to drive the commercialisation of its
patented Maxigesic pain relief medicine platform around the world.

“The German analgesic market, worth US$564m
*
, is significant. We see success
with the oral dose prescription form of Maxigesic as but the first step in this key
European market. We are targeting an ever-larger share of this market by
growing sales of this form of the medicine and with line extensions such as the
intravenous form Maxigesic IV
®
and the oral liquid form.

The agreements in Pakistan and Vietnam cover Maxigesic IV
®
and are aligned
with the company’s determination to build a strong distributor network across
Asia.

“With a combined population of almost 300 million* (2019) and a combined
analgesic market of US$492m*, Pakistan and Vietnam represent great

potential for Maxigesic IV
®
. First registration will need to occur and then we
estimate first sales to occur in 2022,” Dr Atkinson said.

AFT’s agreement in Pakistan, which has a total analgesic market of US$184m*,
is with Excel Laboratories. In Vietnam, where the total analgesic market is worth
US$154m*, AFT has signed an agreement with Ben Tre Pharmaceutical Joint
Stock Company (Bepharco).

The agreements follow the registration of Maxigesic IV by the Therapeutic
Goods Administration in Australia and Medsafe in New Zealand. These
organisations are treated as reference regulators for many markets in South
East Asia and the Middle East.

“We have a number of transactions underway and it’s great to finalise a further
three agreements, with more expected” said Dr Atkinson.

AFT will provide further detail when it releases its results for the half year to 30
September 2019 on Thursday 21 November at 8.30am.

For more information:

Investor Media
Dr Hartley Atkinson, CEO Richard Inder
AFT Pharmaceuticals Ltd The Project
Phone: +64 9 488 0232 Phone: 021 645 643
Email: hartley@aftpharm.com Email: richard@theproject.co.nz


* Source: Statista, November 2019, Full year 2018.

About Bepharco Vietnam
Ben Tre Pharmaceutical Joint Stock Company, a company incorporated in Vietnam and
having its registered office at 6A3, 60 National Highway, Pht Tan ward, Ben Tre Town, Ben Tre
Province, Vietnam.

About Ever Valinject.
EVER Valinject GmbH founded in 1934, is a fully integrated specialty pharmaceuticals
company focused on the research, development, production and commercialization of
products in the areas of neurology, critical care, anaesthesia and oncology with a global
headquarters in Unterach, Austria.


About Excel Healthcare Laboratories Pakistan
Excel Healthcare Laboratories (Pvt) Ltd., a company incorporated in Pakistan and having its
registered office at D – 122 Block #4 Federal “B” Area, Karachi -759950, Pakistan.

About AFT Pharmaceuticals
AFT is a growing multinational pharmaceutical company that develops, markets and
distributes a broad portfolio of pharmaceutical products across a wide range of therapeutic
categories which are distributed across all major pharmaceutical distribution channels: over-
the-counter (OTC), prescription and hospital. Our product portfolio comprises both proprietary

and in-licensed products, and includes patented, branded and generic drugs. Our business
model is to develop and in-license products for sale by our own dedicated sales teams in our
home markets of Australia and New Zealand and in certain Southeast Asian markets, and to
out-license our products to local licensees and distributors to the rest of the world. For more
information: https://www.aftpharm.com/