AFT Pharmaceuticals – executive interview

In this interview, we speak with founder and CEO Hartley Atkinson of AFT Pharmaceuticals about the company’s growth ambitions and the opportunities ahead. Hartley discusses the continued global roll-out of Maxigesic, now sold in c 87 countries, and the significant potential of its intravenous formulation and further line extensions. He also highlights AFT’s capital-light business model and its portfolio of eight patented R&D projects, including a promising novel injectable iron formulation. Looking ahead, new product launches, R&D milestones and an emerging US commercial presence are important catalysts for AFT’s next phase of growth. From its flagship Maxigesic franchise to an expanding pipeline of proprietary medicines, AFT Pharmaceuticals is building a global growth story underpinned by innovation and international expansion.

How does AFT Pharmaceuticals’ business model support its global growth strategy?

Hartley Atkinson: We’re Australasian-based but globally focused. We’re capital-light and undertake our own R&D. We also in-license a lot of products. We’re primarily focused on R&D, getting good value for money from that spending, and on sales and marketing. That’s really our key focus.

Where do you see the biggest opportunities for growth within the Maxigesic franchise?

Hartley Atkinson: We’re selling in about 87 countries around the world, but we still have agreements in well over 100 countries. For example, last week we signed another deal in Japan for Maxigesic IV. There’s still lots of potential, especially for the intravenous (IV) formulation, to expand sales globally, and that’s really what we’re focusing on. There are additional line extensions as well, and all of that helps add to the existing franchise and sales.

Which programmes in AFT Pharmaceuticals’ R&D pipeline offer the greatest potential?

Hartley Atkinson: That’s something I think the market sometimes struggles to grasp. We have about eight patented R&D projects under way, including some really interesting programmes. We have a novel injectable iron formulation, which is very well tolerated and can be given as a single dose without the patient having to come back for another dose. That’s a pretty exciting project, with a large market that’s expected to grow to up to $7.4bn in the next few years. But, as I say, we have eight projects, and that’s just one of them. We do have some really good upside, provided those projects work.

How does AFT decide which international markets to enter directly and where to work with distribution or licensing partners?

Hartley Atkinson: We originated in Australia and New Zealand, but we’ve targeted markets that essentially follow the old Anglo-Saxon British legal and regulatory system.

We have offices in Singapore, Malaysia and Hong Kong, which still operates mainly under the British system. We also have offices in South Africa, Canada and the UK. We have a small satellite office in the United States and another in Ireland that helps cover Europe as well. We’re very much focused on those countries and aren’t looking to expand our direct presence elsewhere. In other markets, we use distributors or licensees, which generally works pretty well.

What are the key R&D and commercial milestones investors should watch over the next 12–18 months?

Hartley Atkinson: Advancing our R&D pipeline with those eight patented products is a key priority. There’s a lot of upside in those programmes. We’re also focused on expanding some of our newer affiliates in South Africa, Canada and the UK, where we have a lot of product launches. Last but not least is the United States. We’ve completed our first launch in the US. It’s still early days, but it’s obviously the world’s biggest pharmaceutical market. If it goes well, it really does have game-changing potential for our overall business.

This transcript has been lightly edited for clarity and readability. Verbal fillers, false starts and minor repetitions have been removed from the interviewee’s responses only. Punctuation, spelling and formatting have also been standardised in line with Edison house style. No substantive changes have been made to the meaning of the discussion.