Futura Medical
Guildford, United Kingdom

Futura Medical is the developer of innovative sexual health products; its core strength is in its research, development, and commercialisation of topically delivered gel formulations. Lead product Eroxon (MED3000) is the first clinically proven topical gel to treat erectile dysfunction (ED) 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

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Profitability in sight as partner preps for US launch
Lighthouse | 10 Apr 2024
Eroxon continues to build, further new launches expected
Lighthouse | 06 Feb 2024
Significant achievements position MED3000 for success
Outlook | 18 Sep 2023

Recent News

FY23 Results
10 Apr 2024
Eroxon to be available on prescription
14 Feb 2024
Trading update
06 Feb 2024
Appointment of joint Corporate Broker
06 Feb 2024