NZ Drugmaker AFT Surpasses Global Giants in Revenue Growth

AFT Pharmaceuticals, a small New Zealand-based drugmaker, has been quietly outperforming global giants Pfizer and Merck. The company's revenue growth has been impressive, with a 22 percent increase year-over-year.

This achievement is even more notable given the challenging conditions faced by many pharmaceutical companies due to the COVID-19 pandemic. AFT Pharmaceuticals' profit surged by 39 percent in the same period, further solidifying its position as one of this year's most underrated local success stories.

Outgoing chairman David Flacks acknowledged that the company's achievements have often been underappreciated. He made these comments at AFT's annual meeting on Friday, where he stepped down after 12 years in the role.