i think that's an excellent decision, and well done! I hope you treated yourself to something nice with your profits!
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I got a pack of Maxigesic from the pharmacy on Saturday.
The annoyance at both the fact that I asked for pure Ibuprofen (none of this cut stuff for me) and that I did not check what the actually gave me is tempered by being an AFT shareholder and knowing their product is sold in Sarawak.
Should be back over $5 a share on this news. :t_up:
To be honest I find Maxigesic an odd product idea. I either take ibuprofen or paracetamol depending upon the current affliction and I have stuffed the packet in the medical box and will probably re-discover them in a years time and wonder why I bought them.
Still, if it makes a profit it is not a pain :p
Can someone please post the todays Stuff news item regarding todays huge sales numbers of vitamin C tabs ?
https://www.stuff.co.nz/business/123...ceutical-sales
Covid-19 has sparked a surge in demand for products that help boost immunity, AFT Pharmaceuticals says.
In the first seven months of this year, sales of its high-potency vitamin C products were already more than double the amount sold in the whole of last year.
Sales of the drug company’s high-dose vitamin C Lipo-Sachets, which claim to have 80 per cent higher absorption than standard vitamin C, have reached $2.5 million since the start of its financial year on April 1, compared with just $1.1m of sales for the previous 12 months, said founder and managing director Hartley Atkinson. He expects the sales to reach around $2.8m for the full year to March 31, 2021.
“There's been quite a big uplift in people taking more of these type of products,” Atkinson said. “People are worried about their immune systems and trying to be as healthy as possible, and that has driven people to taking additional vitamins.
“Normally people have taken them during winter to ward off colds and flu but obviously this year with pandemics and the like around, people have been much more cautious, and much more aware, and therefore have taken more of these vitamins to really make sure that they are in the best shape possible.”
immunity during Covid rose to prominence earlier this year when Dr Anthony Fauci, director of the National Institute of Allergy and Infectious Diseases in the United States said he supplemented his diet with vitamins C and D.
AFT began selling vitamin D Lipo-Sachets to bolster immunity a few months ago and has sold $200,000 worth so far, Atkinson said. It’s also expanded its vitamin C range this year to include new flavours and a children’s version which had been popular.
The company anticipated increased demand ahead of lockdown and stocked up on its supplies, although it did have to air freight some product from Europe which was expensive, he said.
In contrast, sales of the company’s products to treat cold and flu such as Maxigesic PE had been lower as social distancing, hand-washing and mask-wearing curbed the spread of illness, he said.
AFT has been investing in growing its product range and expanding its global markets since listing in 2015. In 2019, chairman David Flacks said it had reached a pivotal point in its development, turning to an operating profit of $6.1m from a $10.1m loss the year earlier.
Atkinson on Wednesday reiterated that the company expects to post an operating profit of between $14m and $18m this year, up from an operating profit of $11.8m last year.
He expected the company to start paying a dividend in the year ending March 31, 2022.
“We do want to be able to look at paying a dividend as soon as we can,” he said. “Provided we are getting the results we are planning on, and we are getting our net debt down to about $25m then we would look to try and pay a dividend next financial year.”
AFT is focused on growing its largest market, Australia, to $100m in revenue in the next four to five years, from $61.4m last year. New Zealand sales last year were $30.1m.
Still, the biggest potential is the wider international market where AFT is progressively launching products like Maxigesic, Atkinson said.
“As we roll that out then that will really drive the international sales and drive the overall sales of our business,” he said.
The company launched Maxigesic in Germany a month ago and is soon to launch in Canada, he said. The product is licensed in more than 100 countries.
AFT shares increased 0.4 per cent to $4.90 in afternoon trading on Wednesday, and have gained 40 per cent this year.
Sam Stubbs had nice words to say about AFT
https://nzherald.co.nz/business/news...ectid=12377535
https://themarketherald.com.au/rooli...er-2020-10-29/
RooLife Group (RLG) has achieved 62 per cent year-on-year growth in revenues for the September quarter
Revenues surged to $940,000 for the quarter, alongside total cash receipts of $828,000
The company also secured a record number of contract wins worth an anticipated $7.4 million, with three substantial new signings
In addition to the increased revenues recorded, RooLife added around $6.2 million to its coffers through a recent placement and entitlement offer
While the company only has six months of funding available at current spending levels, the enhanced revenue base will likely extend this going forward
RooLife Group is trading 3.23 per cent lower for 3 cents
The contracts are expected to deliver revenues right through into the 2023 financial year.
The company launched three new Tmall online stores in partnership with U.S. company Nuria Beauty, COLABDry Shampoo from the United Kingdom and New Zealand’s AFT Pharmaceuticals.
The Nuria Beauty and COLAB Dry Shampoo stores have gained traction with Chinese consumers, highlighted by impressive month-on-month sales growth since their launches.
October's launch of the Kiwi Health store and impending launches of Total Beauty Network’s INIKA cosmetics brand and BLIS Technologies’ key oral probiotics products are also expected to deliver growth through the December quarter.
RooLife itself isn't exactly flourishing. Shareprice 3c.Quote:
The company launched three new Tmall online stores in partnership with U.S. company Nuria Beauty, COLABDry Shampoo from the United Kingdom and New Zealand’s AFT Pharmaceuticals.
Singling out that the Nuria and Colab stores have gained traction with Chinese consumers, tends to imply that the AFT store hasn’t been such a success so far.. although it may just be that the other two have exceeded expectations.
Edit: Ignore that.. jumping to conclusions. AFT store was only launched in October.
AFT PHARMACEUTICALS (NZX: AFT) AND SETEK SIGN SUPPLY AGREEMENTAFT Pharmaceuticals (NZX; AFT, ASX; AFP) and medicinal cannabis company SETEKtoday announce an agreement which will see SETEK provide Good ManufacturingPractice (GMP) quality pharmaceutical-grade medicinal cannabis ingredients to AFT.It follows the two companies signing a memorandum of understanding (MOU) in October 2019 to work together in the research, development, and commercialisation of medicinal cannabis products.The agreement envisages AFT selling medicinal cannabis products into selected, markets starting with Australia and New Zealand. The timing of the launches of these products is confidential and will be advised at a later date.AFT Managing Director Hartley Atkinson said: “We are delighted to further advance our working relationship with SETEK to bring medicinal cannabis products to market.“SETEK’s international relationships and its understanding of medicinal cannabis markets both in New Zealand and offshore make it and ideal partner for AFT.“We have carefully studied the Australasian market 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.SETEK Chief Executive David Pearce said AFT is uniquely placed to bring medicinal cannabis products to markets in New Zealand, Australia and further afield in markets where AFT already has distribution and licensing partners.“AFT’s understanding of pharmaceutical markets, the regulatory and commercial hurdles and its record of commercial success make it a leader in Australasia and an emerging player in the pharmaceutical market globally.“The next step of our business collaboration following on from the MOU has now been actioned with the signing of this agreement,” Mr Pearce said. Source: AFT Pharmaceuticals (NZX; AFT, ASX; AFP)
Wednesday 4th November 2020 Text too small?
More positive news from AFT as it takes steps towards the USA market..Full release here.
AFT Pharmaceuticals (NZX.AFT, ASX.AFP) today announces it has received a US Food and Drug Administration (FDA) complete response letter (CRL) covering its application for the approval of a tablet version of its Maxigesic® pain relief medication.
In the letter, the US regulator said an FDA Good Manufacturing Practice (GMP) inspection of the tablet production facilities – delayed due to COVID-19 related travel disruptions – was the “only deficiency” with AFT’s application.
A CRL indicates the FDA has completed its review of a new drug application. The letter covered AFT’s application for prescription Maxigesic tablets, branded Combogesic® in the US, for treatment of mild to moderate acute pain. The FDA also requested minor labelling changes and asked for updated global safety data.
AFT Managing Director Dr Hartley Atkinson said the CRL indicated AFT had cleared a significant hurdle on its path towards the commercialisation of the Maxigesic pain relief family of medicines in the world’s largest pharmaceutical market.
A positive update on the Maxigesic pain relief product - a further tick in FDA approval in the US.
https://www.nzx.com/announcements/362834
All these flurry of announcements makes me wonder if they softening us up for results time
...and it is typical of AFT to have frequent updates about their world domination plans which only shows how much they have going on!
I will be watching AFT's presentation on NZX Webinar at 2 pm on Wednesday.