19 October 2021

Maxigesic IV® registered in the UK and Ireland

National registration licenses granted for the intravenous form of Maxigesic in both

the UK and Ireland as the easing of COVID-19 restrictions support growth

AFT Pharmaceuticals (NZX: AFT, ASX: AFP) today announces the intravenous form of its patented pain relief medicine, Maxigesic IV, has now gained regulatory approval in both the UK and Ireland.

Edge Pharmaceuticals, the licensee for the UK and Jed Pharma, the licensee in Ireland, are now gearing up to commence sales in the first quarter of the 2022 calendar year.

The approvals bring the number of countries in which AFT Pharmaceuticals has obtained regulatory approval for Maxigesic IV to 27 from 21 countries at the end of March 2021. They also demonstrate the continuing progress AFT is making commercialising is intellectual property in the face of COVID-19 disruptions.

AFT Managing Director Dr Hartley Atkinson said: "More than 3.1million surgical procedures are performed in these markets each year. Maxigesic IV represents an effective non-opioid alternative for the management of mild to moderate pain for many of these cases.

"Demand is also expected to remain strong with the UK and Irish postoperative pain markets growing at a compound annual rate of 13.2% and forecast to reach US$122 million by 2028.1

Dr Atkinson said the launch of Maxigesic IV in the UK and Ireland was opportune.

"We believe the market environment in Ireland and the UK is positive for a launch with hospitals - the primary users of Maxigesic IV - now catching up on a backlog of elective surgical procedures that have built up over the pandemic.

Dr Atkinson also said the easing of COVID-19 restrictions in NSW last week and Victoria following suit this week suggested a supportive trading outlook for Australia, AFT's largest business unit.

"We are pleased to see these positive steps in Australia, where we are preparing for over ten new product launches across our eyecare, dermatology, hospital injectable, medicated vitamins and pain therapeutic areas in the next six months. We look

1 Postoperative Pain Market Insights, Epidemiology and Market Forecast - 2028 - DelveInsight

AFT Pharmaceuticals Limited, Level 1, 129 Hurstmere Road, Takapuna, Auckland0622, New Zealand

Incorporated in New Zealand ARBN: ARBN 609 017 969

forward to providing further detail when we release our half-year financial result in mid-November."

For and on behalf of AFT Pharmaceuticals Limited, Malcolm Tubby, CFO

For more information:

Dr Hartley Atkinson

Richard Inder

Managing Director

The Project

AFT Pharmaceuticals

Tel: +64 21 645 643

Tel: +64 9488 0232

About AFT Pharmaceuticals

AFT is a growing multinational pharmaceutical company that develops, markets and distributes a broad portfolio of pharmaceutical products across a wide range of therapeutic categories which are distributed across all major pharmaceutical distribution channels: over-the-counter (OTC), prescription and hospital. Our product portfolio comprises both proprietary and in-licensed products, and includes patented, branded and generic drugs. Our business model is to develop and in-license products for sale by our own dedicated sales teams in our home markets of Australia and New Zealand and in certain Southeast Asian markets, and to out-license our products to local licensees and distributors to the rest of the world. For more information: aftpharm.com

About Maxigesic IV®

Maxigesic IV has been developed under the development collaboration agreement signed in 2012 between AFT Pharmaceuticals and Hyloris. Maxigesic IV is a unique combination of 1000mg paracetamol and 300mg ibuprofen solution for infusion for use post-operatively.

Results from a randomised, double-blind,placebo-controlled Phase 3 trial in 276 patients following bunion surgery demonstrated that Maxigesic IV was well-tolerated and had a faster onset of action and offered higher pain relief compared to ibuprofen IV or paracetamol IV alone in the same doses.

Moreover, the superior analgesic effect of Maxigesic IV was supported by a range of secondary endpoints, including reduced opioid consumption compared to the paracetamol IV and ibuprofen IV treatment groups

AFT Pharmaceuticals Limited, Level 1, 129 Hurstmere Road, Takapuna, Auckland0622, New Zealand

Incorporated in New Zealand ARBN: ARBN 609 017 969

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AFT Pharmaceuticals Limited published this content on 19 October 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 18 October 2021 19:51:04 UTC.