AFT Pharmaceuticals expects sales to hit analyst forecast of $70 mln

Thu, 16 Feb 2017

By Paul McBeth Feb. 17 (BusinessDesk) - AFT Pharmaceuticals, which manufactures the Maxigesic painkiller, expects annual sales to meet analysts' forecasts of about $70 million and has adjusted its loan covenant with shareholder Capital Royalty Group. The Auckland-based drug maker projects annual sales will rise 9.4 percent in the year ending March 31 and has adjusted the revenue covenant on its CRG loan to meet a sales target of $67.5 million, it said in a statement. AFT had set up a US$30 million six-year facility with CRG in 2014, whic...

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