BELGIUM – Hyloris Pharmaceuticals SA, a specialty biopharmaceutical company dedicated to addressing unmet medical needs by reinventing existing medications, has announced the expansion of the European footprint of Maxigesic IV to treat post-operative pain in the UK.
Hyloris Pharmaceuticals has a diverse pipeline of 13 reformulated and repurposed value-added medicines that have the potential to outperform existing medications.
In addition, the company is developing and registering three high barrier generic products. Two products are currently in the early stages of commercialization with partners: Sotalol IV for atrial fibrillation treatment and the new Maxigesic IV.
Maxigesic IV, is a non-opioid, dual-mode-of-action pain reliever with a unique combination of 1000mg paracetamol and 300mg ibuprofen solution that works in addition to traditional analgesics.
It is now approved by regulators in 27 countries. Kensington Pharmaceuticals Ltd, the UK distributor, and Jed Pharma Ltd, the Irish distributor, are now preparing for commercial sales in early 2022.
Speaking of the approval of Maxigesic IV, Stijn Van Rompay, CEO of Hyloris, commented: “Maxigesic IV is a breakthrough non-opioid pain treatment, offering surgeons a well-tolerated and effective alternative to highly addictive opioids. We are very pleased that Maxigesic IV is gaining further momentum with additional regulatory approvals and together with our partners, we look forward to making the product available in these key markets.”
Over 3.1 million surgical procedures are performed in the United Kingdom and Ireland each year, and the market for postoperative pain in these countries is expected to grow to US$122.1 million by 2028, at a CAGR of 13.23 percent from 2017 to 2028.
Similarly, over 5.2 million surgical procedures are performed in Germany, and the market for postoperative pain in Germany is expected to grow to US$166.5 million by 2028 at a CAGR of 11.58% from 2017-2028.
AFT and its partner Ever Pharma launched Maxigesic IV in Germany and Austria less than two months ago, making this valuable new non-addictive pain treatment available to patients in Germany and Austria.
Maxigesic IV was created as a result of a 2012 collaboration agreement between Hyloris and AFT Pharmaceuticals.
The product is currently licensed in over 100 countries, has been registered in 27 countries, and is now available in 5 more: Australia, New Zealand, The United Arab Emirates, Germany, and Austria.
Maxigesic IV is covered by a number of granted patents as well as pending patent applications.