NZ's AFT Pharma rises to near 1-month high on Japan licensing deal for Maxigesic IV
BUZZ-NZ's AFT Pharma rises to near 1-month high on Japan licensing deal for Maxigesic IV ** Shares of AFT Pharmaceuticals AFT.NZ gain as much as 2.1% to NZ$4.48, their highest levels since August 31
** The pharmaceutical firm enters an exclusive agreement with Japanese drugmaker Mikasaseiyaku Co
** Under deal, AFT grants Mikasa authority to market and commercialize its drug Maxigesic IV across Japan
** Maxigesic IV, also called Combogesic IV is a non-opioid painkiller administered directly into the veins
** Mikasa to procure regulatory approval from Japan's Pharmaceuticals and Medical Devices Agency (PMDA), while AFT will be responsible for developing and supplying the product
** AFT will receive an upfront license fee and royalties earned on the commerical sales of the drug following its launch
** AFT stock up ~32% for the year
(Reporting by Rudrannsh Mehra in Bengaluru)
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NZ's AFT Pharma rises to near 1-month high on Japan licensing deal for Maxigesic IV