AFT Pharmaceuticals’ facing supply problems in NZ

Company News

by David Chau

AFT Pharmaceuticals (ASX:AFP) has confirmed that it’s having some supply issues with international manufacturer, PHARMAC.

There is currently a shortage of the heart medication, Metoprolol, in NZ. The company says that one of the reasons for the supply shortage in NZ is because there is a global shortage.

AFT’s managing director, Dr Hartley Atkinson, says this is a manufacturing issue they could not have foreseen.

Dr Atkinson also says this issue is likely to affect the company’s 2017 FY revenues, but isn’t able to quantify the impact yet.

AFT reported a net loss of $11.95 million at 31 March 2016.

David Chau

Finance News Network
David joined FNN in April 2016. In addition to presenting the Market Outlook and latest business news stories, David interviews senior economists and CEOs of ASX-listed companies. Prior to working for FNN, David was a litigation lawyer.