AFT Pharmaceuticals, New Zealand’s largest drug maker, has reported strong full-year sales growth and net profit, prompting the company to raise its 2027 revenue target to over $300 million.
For the 12 months ended March, AFT Pharmaceuticals reported strong growth compared with the previous year, with net profit rising to $14.7 million from $12 million (up 23%), and total revenue increasing to $254.7 million from $208 million (up 22%). Underlying profit climbed to $28.8 million from $20.9 million, while gross margin eased slightly to 42.4% from 44%.
The company also lifted its full-year dividend to 2.5 cents per share, up from 1.8 cents per share.
Managing director Dr Hartley Atkinson said the company is continuing to grow in its established markets while also expanding into new ones.
The company expanded its presence across key international markets, including the UK, Europe, North America, and South Africa.
“And we are building a wider, more diversified AFT through disciplined international expansion, out-licensing the intellectual property from our R&D programmes, and further advancing our efforts to address unmet clinical needs,” Atkinson added.
The company said it is continuing to invest as part of its strategy to expand across Australasian markets, while also funding a strong pipeline of product launches in international hubs. It expects the UK and South African markets to make a “meaningful contribution” to earnings in the current financial year.
The company said it expects further progress in research and development and regulatory milestones, supported by an active licensing programme aimed at monetising AFT Pharmaceuticals’s intellectual property and expanding its geographic reach.
“We are well positioned to continue to grow by focusing on what we do best – identifying unmet clinical needs, in-licensing or developing medicines, and commercialising them to improve health globally,” Atkinson said.