Futura Medical PLC - Surrey, England-based pharmaceutical company - Says its distribution partner, Labatec Pharma, received regulatory approval for MED3000 in Saudi Arabia. MED3000 is Futura's topical, gel-based erectile dysfunction treatment. Labatec will exclusively launch and commercialise MED3000 under the brand name Eroxon, with initial launch planned in the final quarter of 2023. Adds the manufacturing of Eroxon for launch has been completed.
"Regulatory approval in the Kingdom of Saudi Arabia paves the way for Eroxon to improve the lives of ED patients in this key market. Eroxon is a game changer in the ED space with its rapid speed of onset helping men get an erection within 10 minutes. This approval comes at a pivotal time for the company, as we continue to grow and expand the availability of MED3000 globally by building out our licensing and distribution network," says Chief Executive James Barder.
Current stock price: 52.65 pence, up 1.6% around midday in London on Wednesday
12-month: up 51%
By Heather Rydings, Alliance News senior economics reporter
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Futura Medical (FUM)