Futura Medical targets global expansion with Eroxon, eyeing profitability in 2024
–News Direct–
Futura Medical PLC (AIM:FUM, OTC:FAMDF) CEO James Barder tells Proactive's Stephen Gunnion about a strategic shift and refresh for the company in 2023, marked by the successful launch of Eroxon in the UK and Belgium, generating 3.1 million in revenues, FDA marketing authorisation in the US, and an exclusive marketing rights deal with Haleon for Eroxon in America.
These achievements have broadened Futura's global distribution network to approximately 80%, excluding China. The company aims to establish a new sexual health category within the OTC market, leveraging Futura's R&D expertise.
The specific launch date in the US with Haleon remains undisclosed due to competitive sensitivities, targeted within a year from the end of February. Pre-launch processes involve ensuring manufacturing capacity, engaging key opinion leaders, product positioning considering cultural sensitivities, and aligning with retailer schedules.
Objectives for this year include expanding into at least 14 new countries in the first half, exploring opportunities in Asia, particularly China, and extending Eroxon's product range while focusing on cost management.
Barder, reflecting on Futura's transition from a loss-making R&D firm to a pathway towards profitability, expresses optimism for continued progress in 2024.
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View source version on newsdirect.com: https://newsdirect.com/news/futura-medical-targets-global-expansion-with-eroxon-eyeing-profitability-in-2024-720550188
Futura Medical PLC
COMTEX_450685970/2655/2024-04-11T07:10:22
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