The Futura Medical PLC (LON: FUM) share price surged 19.37% after announcing that it had signed a distribution contract with Haleon, the global consumer healthcare company, to exclusively commercialise its innovative topical, gel-based Erectile Dysfunction (ED) treatment MED3000, in the USA.
YOUR CAPITAL IS AT RISK. 76% OF RETAIL CFD ACCOUNTS LOSE MONEY.
Under the terms of the agreement, Haleon will commercialise MED3000 as the first and only clinically proven gel treatment for ED, available without the need for a doctor's prescription (OTC) in the USA, the biggest consumer healthcare market globally.
Top Broker Recommendation
- eToro Top stock trading platform with 0% commission – Read our Review
- Admiral Markets More than 4500 stocks & ETFs available – Read our Review
- BlackBull 26,000+ Shares, Options, ETFs, Bonds, and other underlying assets – Read our Review
- IG Top-tier regulation – Read our Review
- XTB UK regulated by the FCA – Read our Review
YOUR CAPITAL IS AT RISK. 76% OF RETAIL CFD ACCOUNTS LOSE MONEY
Investors were pleased by the collaboration between the two firms, given that Haleon is one of the largest consumer healthcare companies in the world, with a significant presence in the United States and many other countries.
Haleon can use its extensive distribution network and experienced marketing team to market MED3000 to the over 22 million men in America with Erectile Dysfunction (ED). The firm will be responsible for all investments and activities related to the launch and marketing of MED3000 in the USA.
Futura is set to receive an upfront payment of $4 million and royalty payments on all sales of MED3000 by Haleon, and potential commercial and performance-driven sales milestone payments totalling between $5 million and $45 million, payable over several years.
The deal with Haloen will seek to tap into the many men who do not treat their ED by offering an over-the-counter (OTC) clinically proven treatment.Â
James Barder, Futura Medical’s CEO, said: “This agreement, with one of the world's leading global consumer healthcare companies, represents a major milestone for Futura, following on from our recent US FDA approval for MED3000 as the first OTC topical gel approved for ED. The USA is the largest ED market in the world, and we believe Haleon, with its strong capabilities in brand-building and marketing through an unrivalled breadth of channels, as well as its connections and market reach, makes it the ideal partner to introduce MED3000 to the millions of ED suffers in the USA who will soon be able to buy MED3000 in US pharmacies, without the need for a doctor's prescription.”
*This is not investment advice.
Futura Medical share price.
The Futura Medical share price surged 19.37% to trade at 61p, from Friday’s closing price of 51.10p.
YOUR CAPITAL IS AT RISK. 76% OF RETAIL CFD ACCOUNTS LOSE MONEY.