Last checked at 23 Oct 2015 07:00
For immediate release | 23 October 2015 |
Futura Medical plc
("Futura" or the "Company")
NHS reimbursement available for MED2002 as a Special Product
Futura Medical plc (AIM: FUM), the innovative healthcare company focused on advanced transdermal technology, announces that the NHS Business Services Authority has confirmed that prescriptions for MED2002 as an unlicensed medicine will be reimbursed by the NHS.
Earlier this month, Futura announced an agreement under which Quantum Pharma Plc (AIM: QP.), a leading UK manufacturer and supplier of unlicensed medicines, will make MED2002 available as an unlicensed medicine, or "Special".
Specials are medicines that have not been authorised and which are requested and prescribed for the treatment on a named patient basis only by appropriately qualified doctors under their own authority. Such requests can only be made subject to a number of conditions being met including the absence of licensed alternatives.
MED2002 meets the UK regulatory criteria for a Special because of the estimated 7.5% of erectile dysfunction sufferers who cannot be prescribed PDE5 inhibitors, such as Viagra®, owing to contraindications with other medicines they take.
MED2002 is currently undergoing a pivotal efficacy study in 192 men suffering from erectile dysfunction. The study results are expected to be reported by the end of H1 2016. It is intended that MED2002 will remain available as a Special until the product gains marketing authorisation.
James Barder, Futura's Chief Executive, commented: "We are pleased that the NHS will reimburse prescriptions for MED2002 as a Special. MED2002 is our novel treatment for erectile dysfunction, which meets the UK regulatory criteria for a Special owing to the significant number of erectile dysfunction sufferers who are unable to use the widely prescribed PDE5 inhibitors owing to contraindications with other medicines."
The promotion of unlicensed medicines is prohibited by Human Medicines Regulations 2012. Accordingly, this announcement contains only the factual information necessary to be disclosed to allow the Company to comply with its obligations under the AIM Rules for Companies. It is not intended to be nor should be treated as an advertisement, promotion or endorsement of MED2002 for any medicinal purposes.
For further information please contact:
Futura Medical plc | |
James Barder, Chief Executive | Tel: +44 (0) 1483 685 670 |
Email to: james.barder@futuramedical.com | www.futuramedical.com |
N+1 Singer (Nominated Adviser and Broker) | |
Aubrey Powell / Liz Yong / Tom Smale - Corporate Finance
| Tel:+44 (0) 20 7496 3000 |
For media enquiries please contact: | |
Buchanan | |
Mark Court / Sophie Cowles / Stephanie Watson | Tel: +44 (0) 20 7466 5000 |
Notes to Editors
Futura Medical plc
Futura Medical is a pharmaceutical group that develops innovative products for consumer healthcare. The Company is developing a portfolio of products and its strategy is to license their manufacture and distribution to major pharmaceutical and healthcare groups.
Futura is based in Guildford, Surrey, and its shares trade on the AIM market of the London Stock Exchange.
www.futuramedical.com
About MED2002
MED2002 is the development name for Futura Medical's medicinal treatment for men with erectile dysfunction ("ED"). Futura holds worldwide rights to MED2002, which contains the active ingredient glyceryl tri-nitrate.
A clinical study of MED2002 is currently under way in more than 192 patients with ED. The primary outcome of the study, which is of a randomised, placebo-controlled, double blind, home use, crossover design, is statistically significant efficacy. The clinical trial is expected to report before the end of H1, 2016.
In the most recent data published by the NHS spending on drugs to treat ED in General Practice in England exceeded £80 million per annum1.
1 http://www.nhsbsa.nhs.uk/PrescriptionServices/Documents/PPDPrescribingAnalysisCharts/Endocrine_National_Mar_12.pdf