Futura Medical Soars as Eroxon Launches in US Stores and Online in October

September 02, 2024 10:58 PM AEST | By Team Kalkine Media

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Futura Medical Soars as Eroxon Launches in US Stores and Online in October — Image source: shutterstock

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Futura Medical PLC (LSE:FUM) has provided additional details regarding the US launch of its innovative erectile dysfunction gel, Eroxon, in collaboration with its major partner, Haleon PLC. As of September 1, the gel is available for pre-order online and is scheduled to be available in US stores starting in October.

Eroxon has gained recognition as the first topical erectile dysfunction treatment approved by the US Food & Drug Administration (FDA) for over-the-counter sale. This milestone was achieved following FDA approval in July 2023. Futura Medical has out-licensed the US distribution rights to Haleon, with Futura receiving royalties based on in-market sales and commercial milestones, though specific financial details have not been disclosed.

Following the announcement, Futura Medical's shares surged 18.5% to 39.7p in morning trading. This significant increase highlights the market's enthusiasm for the new product and its potential impact on the company's financial performance.

Broker Stifel has projected a £4 million milestone for the US launch, expected in 2025. However, should this milestone be achieved earlier, in 2024, Futura could potentially report its first profit within the current fiscal year. This scenario would mark a notable shift for the company and underline the success of its strategic partnership with Haleon.

The rollout of Eroxon represents a significant advancement in the erectile dysfunction treatment market, offering a novel, over-the-counter option for consumers. This development not only positions Futura Medical at the forefront of innovative treatments but also signals a promising future for the company’s growth and profitability.

With the gel’s imminent availability, both Futura Medical and Haleon are poised to make a substantial impact in the US market. The strong initial response from investors reflects optimism about the product's market potential and the anticipated benefits from this key commercial launch.

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