Pharmacy Daily | AFT seals cannabis deal

AFT Pharmaceuticals today announced a new agreement with New Zealand-based cannabis producer Setek, which will see the provision of Good Manufacturing Practice (GMP) quality pharmaceutical-grade medicinal cannabis ingredients to AFT.

The pact envisages AFT selling medicinal cannabis products into selected markets starting with Australia and New Zealand, and builds on a Memorandum of Understanding from Oct last year which has seen the companies work together on the research, development and commercialisation of medicinal cannabis products.

"We are delighted to further advance our working relationship with Setek to bring medicinal cannabis products to market," said AFT MD Hartley Atkinson.

"Setek's international relationships and its understanding of medicinal cannabis markets both in New Zealand and offshore make it an ideal partner for AFT."

Atkinson said his company had carefully studied the market in Australia and NZ and the required strategies to commercialise a new set of medicinal cannabis products.

"This research has strengthened our view that these are a natural extension to the AFT product portfolio...they have the potential to benefit from our extensive distribution networks and to further strengthen AFT's proposition with healthcare providers," he said.

AFT did not reveal when it plans to begin marketing its new medicinal cannabis products.

MEANWHILE AFT yesterday also announced the signing of exclusive Maxigesic IV distribution and supply agreements for the UK and Hong Kong, with the company targeting sales of the medicine in both new territories in 2022.

The UK agreement is with a company called Kensington Pharma, while in Hong Kong the deal adds Maxigesic IV to the existing distribution agreement with DKSH which has also successfully launched Maxigesic tablets in the local market.

Maxigesic IV regulatory approval in the UK is expected late in 2021, while in Hong Kong approval is expected in the second half of 2022.