NZ Court of Appeal dismisses case against AFT Pharmaceuticals
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The news: New Zealand’s Court of Appeal has dismissed an appeal by PBL Solutions (PBL) that claimed dual-listed company AFT Pharmaceutical (AFT) was required to share profits from its port wine stains treatment, Pascomer.
The context: The appeal followed a 2023 High Court ruling that dismissed PBL’s lawsuit seeking profits earned for the commercialisation of Pascomer.
PBL, which is associated with a former contractor to AFT, holds a 35% stake in AFT Orphan Pharmaceuticals.
AFT said it will continue to provide PBL with 35% of profits earned from Pascomer and will share costs related to the appeal.
The company said the judgement is not expected to have a material impact on its FY 2026 earnings guidance.
The source: ASX
