AFT Pharmaceuticals Limited (AFT) Trading update summary

Revenue and growth outlook

• On track to achieve $300 million revenue target for FY27, supported by a robust product launch pipeline.

• Historical sales growth has averaged 17% CAGR over the past 20 years, with FY26 revenue at $255 million NZD.

• Strong performance in core markets, with Australia and New Zealand growing 19% and 11% respectively in FY26.

• Ongoing investments in market development, including new senior marketing leadership in the UK.

• Targeted operating profit for FY27 is set between $28 million and $32 million.

Product pipeline and regulatory progress

• Regulatory filings submitted for 86 new products, with 138 more in preparation and 145 additional filings anticipated.

• Product launches are focused on international and Asian markets, expected to drive the highest growth rates.

• R&D pipeline now includes eight patented products, offering significant long-term value.

R&D and innovation highlights

• Novel injectable iron product has passed US FDA and Japanese PMDA regulatory hurdles, enabling a global Phase III trial.

• The global Phase III trial will enroll 1,366 patients across multiple countries, starting September 2026.

• Option agreement executed for a novel injectable formulation targeting a market exceeding US$3 billion by 2032-34.

• Continued advancement in pain, dermatology, eyecare, and injectables, supported by strong cashflows.