Futura Medical marks pivotal year with first meaningful revenue from Eroxon sales
Published: 02:33 07 Feb 2024 EST
Futura Medical PLC (AIM:FUM, OTC:FAMDF) CEO James Barder tells Proactive's Stephen Gunnion that 2023 was a pivotal year for the company as it rolled out its innovative sexual health product, Eroxon, designed to treat erectile dysfunction. The over-the-counter availability of Eroxon distinguishes it as a groundbreaking product globally, facilitating easier access for consumers without a prescription.
Barder noted the company reported significant achievements in 2023, including revenue of £3.1 million and a strategic expansion into the US market, bolstered by FDA approval and a partnership with leading OTC distributor Halen.
This expansion is underscored by successful launches in the UK and Belgium, capturing around a 20% market share. Barder highlighted Futura's virtual organizational model and risk-mitigated marketing strategy through partnerships focusing on advertising and promotional spend.
Looking ahead, Futura anticipates further global expansion with more than ten country launches expected by April, surpassing initial forecasts. Additionally, the company's vigilant stance against counterfeit products underscores its commitment to safeguarding brand integrity and consumer trust. With new broker and investor relations appointments, Futura aims to enhance shareholder value and visibility.
