Futura Medical
Guildford, United Kingdom

Futura Medical is a small pharma with a novel proprietary transdermal delivery system, DermaSys, and a lead programme, MED3000, the first clinically proven topical gel to treat erectile dysfunction that is approved OTC (without a prescription) in the US and Europe.


Investment Perspective

An impressive stage has been set by Futura Medical for successful commercialisation of MED3000 (Eroxon in Europe), with consumer healthcare giant Haleon now secured as the ideal US commercial partner. Initial European launches via partner Cooper Consumer Health in the UK and Belgium have exceeded expectations, providing confidence in Eroxon’s potential, with the focus now on expansion of retailers, new launches, and repeat orders. Whilst there are no details on US launch timings, we believe preparations will take some time, and hence conservatively do not expect US launch until 2025. However, precise timings do not impact our overall investment case, with the sales potential for MED3000 more critical. The market for erectile dysfunction (ED) treatments remains significant, and as outlined by ED key opinion leaders, MED3000 is ideally placed to overcome the limitations of mainstay PDE5s. Our Futura Medical valuation is increased to £363m, equivalent to 121p per share.

Market information

SymbolPrimary exchanges


Significant achievements position MED3000 for success
Outlook | 18 Sep 2023
Haleon to commercialise MED3000 in the US
Lighthouse | 17 Jul 2023
Key takeaways from Investor Seminar
Lighthouse | 26 Jun 2023

Recent News

Interim H123 results
18 Sep 2023
MED3000 approval in Saudi Arabia
09 Aug 2023
Board change
18 Jul 2023
US commercialisation agreement with Haleon
17 Jul 2023