First NZ med to hit US market

New Zealand company AFT Pharmaceuticals has announced the launch of the first patented, New Zealand-developed medicine with clinical studies in the United States.

The pharma's intravenous opioid-free pain relief, Maxigesic IV, is marketed by licensee Hikma Pharmaceuticals in the US under the brand name Combogesic IV.

It's expected the first commercial sale in the US will occur in the coming weeks, which will trigger a $9.2 million (US$6 million) licensee fee to AFT and its development partner, Belgium-based Hyloris Pharmaceuticals. AFT's share is estimated at $5.6 million (NZ$6 million).