AFT Pharmaceuticals (ASX:AFP) welcomes Medsafe’s decision

Company News

by Ortenzia Borre

AFT Pharmaceuticals (ASX:AFP) has today welcomed Medsafe’s decision to classify all medicines containing codeine as prescription medicines.

AFT Pharmaceutical’s Managing Director Dr Hartley Atkinson said the New Zealand medicine regulator’s decision was a good result for AFT and would increase demand for the company’s patented pain relief medicine Maxigesic as well as reduce codeine overdoses and poisonings.

Dr Atkinson added that in the 12 months after Australia rescheduled codeine containing medicines in 2018, sales of Maxigesic tablets increased by more than 50%.

Shares in AFT Pharmaceuticals (ASX:AFP) are trading 6.5 per cent higher at $3.10.