Logistics Asia
UK-based pharmaceutical company Martindale Pharma has announced the appointment of AFT Pharmaceuticals as its distribution partner for several Asia Pacific markets. This agreement forms part of Martindale Pharma’s strategy to expand its international business towards countries committed to expanding healthcare provision and spend on medicines.
AFT Pharmaceuticals has a significant presence in Asia Pacific and operates across New Zealand, Australia, Malaysia, Hong Kong, Singapore and Brunei. Under this new agreement, AFT Pharmaceuticals will be responsible for the registration, distribution, promotion and marketing of certain of Martindale Pharma’s products in Malaysia, Singapore and Brunei.
Malaysia is one of the fastest growing pharmaceutical markets and is currently $3.2 billion with a growth rate of 11% per annum. Healthcare was identified as a National key economic area for 2020 and spending on healthcare is fast growing following the economic development of the country. Singapore’s healthcare expenditure is over $12 billion representing 6% of its GDP and has a pharmaceutical market size of $1 billion and a growth rate of 1.3%. The healthcare system was ranked sixth worldwide by the World Health Organization (WHO).
Mike Harris, CEO of Martindale Pharma, commented: “The demand for critical care and hospital specialty products in these markets is growing rapidly. Martindale Pharma’s strategy is to partner with companies that have a strong presence in key international markets. We lo
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ok forward to working with AFT Pharmaceuticals to distribute and promote world-class products to patients and hospitals in Malaysia, Singapore and Brunei.”
Hartley Atkinson, Managing Director of AFT Pharmaceuticals, added: “We are pleased to have partnered with Martindale Pharma and look forward to providing our expertise in delivering high quality products to hospitals, and patients across different countries in Asia Pacific.”