It was 15 years ago, in 2011, when we first highlighted the success of local Takapuna business AFT Pharmaceuticals. Hartley and Marree Atkinson had launched the business from a spare room off their garage 14 years previously, when Hartley had been made redundant. By 2011, the business had grown to turn over around $40 million, and the Atkinsons believed they had just touched the global potential. Fast forward to 2026, and they were right; turnover is now in excess of $200m and heading toward $300m. 15 years on, Channel Mag's Aidan Bennett caught up with Hartley Atkinson for a chat about their phenomenal growth and how they are still taking on the world from their Takapuna base.
Some years before I put together the AFT Pharmaceuticals feature in 2011, I’d heard a whisper about this home-grown North Shore drug business that was on to something big. I thought about uncovering the story then, but other things got in the way. So, when I saw the AFT Pharmaceutical name come up as a finalist in the Design, Research and Development category of the 2011 Auckland North Business Awards, I decided it was time to find out more. I loved doing it.
Back then I wrote... “A first impression when you meet Hartley Atkinson is that he doesn't strike you as the stereotypical managing director of this type of business. He's more like a laid-back middle-aged rock star with his long hair and creative look.” Nothing much has changed with that look, but a great deal has changed in terms of the success of the business that now turns over $230m! The business was floated on the NZX and ASX (New Zealand and Australian stock exchanges) in December 2015.
Hartley and Marree started AFT (the name comes from the ‘Atkinson Family Trust’) with $50,000 start-up money, shortly after Hartley had been made redundant from his role as medical director at Swiss giant Roche. Hartley Atkinson was educated at Westlake Boys' and went on to train as a pharmacist, completing a doctorate in pharmacology while studying at university in both Christchurch and Dunedin.
We love highlighting local business success in Channel Mag, and in terms of success, what Hartley and Marree have achieved with AFT is incredible. I caught up with Hartley while he and Marree were travelling in Europe during February, shortly after it had been announced that AFT is the new multi-year sponsor of the North Harbour Club AIMES Innovation Award. It is heartwarming that the Atkinsons are now giving back in their home patch.
Aidan Bennett: You must be thrilled to have reached the $230m turnover mark during 2025 and enjoyed considerable growth right through the year. What are the next goals for AFT?
Hartley Atkinson: We were really pleased to grow at 33% over the same period last year and become the largest local New Zealand pharma company. We have a target to break the $300m sales mark by the end of the FY27 financial year (31 March 2027) and are currently working hard to achieve this milestone.
How many offices do you now have around the world, and how many staff?
Presently, we have 118 staff with our headquarters in Takapuna and offices in Sydney, Singapore, Hong Kong, Cape Town, Detroit, Toronto and London.
This has been a 28-year journey for you and Marree. You must be thrilled to now see your family playing a part in the business around the world. Tell us about their involvement.
Our eldest, Bailey, is working in our London office with our UK CEO, Dr Samer Taslaq. Bailey is a qualified lawyer and works in our business development team, helping to grow business across Europe and also the UK, where this calendar year we are launching eight new OTC (over the counter) pharmacy medicine products in addition to our existing range of hospital and OTCs. His younger brother, Campbell, who graduated with a degree in business and marketing, is also working in business development, mainly on our early-stage US and Canadian businesses, which are both really interesting markets. They have fitted in well with our team, who are all doing a great job expanding our business across now 84 countries around the globe.
Without giving all your secrets away, what are your short-term, medium-term, and longer-term goals for the business?
We remain very focused on our $300m short-term goal before resetting our sights. Long term, we have a significant opportunity with our large R&D (research and development) pipeline, with the development funded entirely from existing resources, which is no mean feat as pharmaceutical development is an expensive exercise. We are also listed on the NZX and ASX stock exchanges, so improving the value of the company for all our shareholders is also both a medium and long-term goal.
I see you have recently created new business hubs in South Africa, Canada and the UK and continue to invest heavily in R&D. What current product development and new market initiatives excite you the most?
We see significant opportunity in our business hubs as the potential markets are all much larger than New Zealand, and we have proven we can succeed in larger markets such as Australia, which is currently our biggest single market and performing very well. Medium to long term, we have a very exciting and significant R&D portfolio, which remains largely unappreciated here at home. One example is a novel injectable iron product that we are developing for the global market, and we are presently organising an 800-patient clinical study in New Zealand, China, India, Japan, the USA and Europe, which is a big job. Additionally, we are developing a number of treatments for diseases which don’t have viable treatments, which is a really worthwhile endeavour, but also commercially a significant opportunity to drive our company scale around the globe.
Tell us about the injectable/StablevaX initiative?
This is a great project where we are working with our London-based partner, Stablepharma, to develop 14 drugs that are normally stored in the fridge, and with their technology, we believe they can then be stored at normal room temperature. Hospital and pharmacy fridges nowadays are bursting at the seams, and there are a lot of costs in storage, transport and wastage from drugs not being stored properly, and this will really help address all of these problems. The drugs in question presently sell over US$6 billion, so this also represents a nice commercial opportunity as well.
What are the biggest challenges now for you and AFT?
There are always challenges and much to learn, and it’s great to go to work every day and still be learning. The biggest challenge is always execution, especially with business in 84 countries and our own offices spread across the globe and time zones. AFT’s and my challenges largely overlap, which is why our teamwork is always very important, especially across the different regions.
As you are aware, I am passionate about the North Shore and North Harbour area. It was a thrill to see you and Marree decide to become a sponsor of the North Harbour Club’s AIMES Youth Excellence Awards – very aptly in the innovation category. What made you decide to generously give back in this way?
We really value the amazing lifestyle on the Shore and many of our staff also live locally as well. A challenge is that we spend a lot of time outside of New Zealand where most of our business occurs, and are subsequently not always well known or connected in New Zealand. The AIMES Youth excellence award is a great way for AFT to connect and give back to the local community.
What do you both do these days to relax away from business life?
We are both keen skiers, so spend a bit of time on the slopes, which is always a great unwinder away from work. We also really enjoy keeping fit, walking around the lake and going to the gym. The Shore is great for its active lifestyle, which seems to be a common theme for so many of its residents. We have a very active Hungarian Visla called Klaus, who is always up for a good walk and run, which also helps.
Complete the following: When I get back to New Zealand, I'm really looking forward to…
… getting back into the routine again for a bit and catching up with everyone. It is always great to get home!
For further information visit: www.aftpharm.com
