AFT Pharmaceuticals licenses pain treatment in Japan

• AFT Pharmaceuticals signed an agreement to bring its pain treatment, Maxigesic IV, to the Japanese market.
• The agreement secures licensing fees and future sales royalties in Japan.
• The deal expansion aims to target Japan as the third largest pharmaceutical market globally.

AFT Pharmaceuticals (ASX:AFP) entered an exclusive license and supply agreement with Mikasa Seiyaku to commercialise its pain treatment Maxigesic IV in Japan.

The agreement expands the global commercial footprint of the intravenous analgesic into Japan, which represents the third largest pharmaceutical market worldwide.

Under the contract terms, AFT Pharmaceuticals will receive an upfront licence fee, development milestone payments, and commercial sales royalties while supplying the finished product containing 1000 mg paracetamol and 300 mg ibuprofen to Mikasa Seiyaku.

The company stated that the collaboration aims to provide a non-opioid post-operative pain management alternative for Japanese healthcare providers.

Following the announcement, the AFT Pharmaceuticals share price was unchanged at $3.48.

AFT Pharmaceuticals develops, licenses, and distributes a wide range of proprietary prescription and over-the-counter health products globally.