Futura Medical PLC is making strategic moves to expand its global footprint and achieve profitability in 2024. CEO James Barder shares that the company has experienced a significant shift and refresh in 2023, highlighted by the successful launch of Eroxon in the UK and Belgium, which generated £3.1 million in revenues.
The company has also achieved FDA marketing authorization in the US and secured an exclusive marketing rights deal with Haleon for Eroxon in America. These milestones have expanded Futura’s global distribution network to approximately 80%, excluding China. The company’s objective is to establish a new sexual health category within the OTC market, leveraging its R&D expertise.
As part of its strategic plans, Futura aims to launch Eroxon in the US with Haleon within a year from the end of February. However, the specific launch date remains undisclosed due to competitive sensitivities. Pre-launch processes involve ensuring manufacturing capacity, engaging key opinion leaders, product positioning considering cultural sensitivities, and aligning with retailer schedules.
In addition to the US launch, Futura Medical PLC has set objectives to expand into at least 14 new countries in the first half of the year. The company is also exploring opportunities in Asia, particularly China, and is focused on extending Eroxon’s product range while managing costs effectively.
Reflecting on the company’s transition from a loss-making R&D firm to a pathway towards profitability, CEO James Barder expresses optimism for continued progress in 2024. The company’s achievements and strategic initiatives position it for significant growth and success in the coming years.
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