Futura Medical gains regulatory green light for Eroxon in Saudi
The product will be launched and marketed by Futura’s distribution partner Labatec Pharma under the brand name Eroxon®, with launch planned in Q4 2023. Saudi Arabia is one of the top ten ED markets in the world by value, with 10.45% of married males experiencing ED.
Labatec said it will introduce Eroxon at the 20th Urological Association of Asia Congress this September.
Futura has gained regulatory approval in six Middle Eastern countries, establishing a growing network and strengthening its position. Regulatory approval in Saudi Arabia closely followed Futura introducing Eroxon in Europe and the UK, and getting FDA approval for MED3000 in the USA as the first proven gel to treat ED without a prescription.
James Barder, Chief Executive Officer of Futura said: "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."
View from Vox
Futura Medical is a pharmaceutical company with an R&D focus. It currently has a pipeline of products in late-stage development, with the aim to target two large markets - sexual health and pain - and then partner at the optimum time to generate most value.
Futura has a strategic focus on the key US market, with this paying off after it received FDA approval for MED3000 in June, but also globally, where it continues to build a network of licensing and distribution partners and a strong brand identity for MED3000.
Currently in development, Futura is also partnering with CBDerma Technology Limited to explore the application of Futura’s transdermal drug delivery technology DermaSys® for delivery of cannabidiol. This partnership is timely, given that the market for cannabidiol products is forecast to grow from US$3 billion in 2020 to US$15 billion by 2028.
Futura’s strategy of addressing two large global markets - pain and sexual health - alongside securing partners to launch and market these products, is a winning formula for the company, which has already begun to see revenues generated in Europe following the launch of MED3000 in March of this year.
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