AFT Pharmaceuticals’ Ltd [ASX:AFT] share price has hit a bit of a lull since its spike after the codeine switch earlier this year.
Shares of AFT spiked at 16 January 2018, trading at $0.002 leading up to the application of the codeine switch. Now shares are consistently trading at $0.001 over this week — a decline of 50%.
Despite this, the end of the financial year 31 March 2018 brought positive progress for a number of AFT’s strategic projects.
Codeine switch aiding AFT Pharmaceuticals share price?
After the codeine switch in 1 February 2018, spikes in share price occurred, as forms of the opioid drug can now be sold over the counter.
This thrusted AFT’s unique, patented pain relief medicine, Maxigesic, which combines paracetamol and ibuprofen, to the forefront of Australia’s treatment for pain.
And it’s possible that shareholders could soon feel these positive effects in share price again, as recognised pain relief alternatives post-switch are needed.
But, as well as a number of registrations underway that are required before most launches can occur, AFT has seen delays due to regularly procedures in the EU — which could be the reason for the slight decrease in share price, since the earlier highs that came near the codeine shift.
AFT saw their sales increased by targeting additional codeine users already identified by market research. Despite being significantly outspent by multinational competitors in the Paracetamol-Ibuprofen post codeine switch, Maxigesic has held on to its market leadership.
Now the pharmaceuticals company is growing its products globally through distributions and licensees.
AFT Pharmaceuticals looking forward
AFT’s strategy remains focused on growing globally, by developing key innovative products outside ANZ through distributions and licensees. With agreements for Maxigesic oral dose, forms have been secured to increase the number of countries from 110 to 125.
There was also expansion talks about pursing the emerging medicinal cannabis market.
But all in all, AFT is advancing their sales opportunities using strong local sales operations. But as chairman David Flacks says, it will take time to fully reap the benefits of the pharmaceutical industry that is constantly driving forward with new technological discoveries.
For Money Morning
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