Edison Investment Research - AFT Pharmaceuticals (AFT) AFT Pharmaceuticals - Portfolio expansion with new in-licensing deal

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Edison Investment Research

Sean Conroy

AFT Pharmaceuticals - Portfolio expansion with new in-licensing deal

AFT Pharmaceuticals continues to strengthen its R&D pipeline with the announced in-licensing agreement with Latitude Pharmaceuticals (a US-based contract research organisation) to develop antibiotic eye drops to treat serious eye infections. The formulation is already approved to treat bacterial infections, including those caused by the antibiotic-resistant MRSA bacteria. The IP relates to an aqueous stable formulation of this treatment. Eye care is a key focus for AFT (contributing over 20% of the group’s revenue, per our estimate) and we expect this new asset to complement the existing portfolio. AFT plans to launch around 65 new products in Australasia before 2025 and a robust R&D pipeline will be key to delivering this. The development programme will be covered by AFT’s budgeted R&D expenditure of c NZ$12m per year for FY23 and FY24.

02/02/2023 1 EN

Underlying

AFT Pharmaceuticals

AFT Pharmaceuticals is engaged in the distribution of pharmaceutical products and the development of pharmaceutical intellectual property.

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NZAFTE0001S4 NZX New Zealand

Provider

Edison Investment Research

Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.

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Analysts

Sean Conroy

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AFT Pharmaceuticals - Portfolio expansion with new in-licensing deal

AFT Pharmaceuticals - H125 profitability weighed down by one-offs

AFT Pharmaceuticals - Maxigesic IV reaches the Chinese shores

AFT Pharmaceuticals - Hikma partnership expands to include Combogesic

Accsys Technologies - Upgrading guidance for the full year

Topps Tiles - Market outperformance again in FY24

Nabaltec - Resilience and margin expansion

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