AFT Pharmaceuticals - Strong FY18 results
AFT Pharmaceuticals recently reported its FY18 results. Operating revenue grew 15.7% compared to FY17, approximately double the 8.1% growth seen the year before. The Australian market, which now represents over 61% of revenues at N$49.2m, was leading the way with 32.7% growth, thanks to patients switching from codeine-containing products. Revenues in New Zealand fell by 7% from NZ$29.2m to NZ$27.1m due to the company no longer being the sole supplier of Metoprolol. Maxigesic continues to do well internationally and is now launched in 10 countries.AFT Pharmaceuticals is engaged in the distribution of pharmaceutical products and the development of pharmaceutical intellectual property.
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