CSD500: Launch Update
10 March 2014
Futura Medical plc (AIM: FUM), the pharmaceutical group that develops innovative products for consumer healthcare, announces the following update on progress towards the launch and roll-out of CSD500, the Company's novel condom.
Futura's strategy is to license the condom on a territorial basis to distributors with a strong presence in each territory. To date, the condom has been licensed in North America, key European territories, Scandinavia, Middle East and North Africa (MENA) and China. Discussions are continuing in connection with licensing the condom in further territories, including South America, Asia & Oceania. In addition, Futura will launch CSD500 under its own brand in at least one European country using outsourced distribution.
It is expected that the initial launch of CSD500 will take place during H2 2014 in a number of territories within MENA and in at least one European country.
Church & Dwight, which has rights to CSD500 in North America and key European markets, has been making significant progress in its launch plans although precise details and timings are commercially sensitive. Futura is therefore unable to provide detailed guidance.
Saudi Pharmacy Group, a leading Middle Eastern healthcare company, holds licensing rights to CSD500 in key countries in MENA and intends to launch the product in the region under an undisclosed brand name as soon as practicable during 2014.
Futura shall also be launching CSD500 under a Futura-owned brand name using an established European condom distributor in at least one mainland European country later this year. The name of the mainland European country is currently undisclosed but it is one that falls outside of existing licensing agreements.
It is expected that the number of 2014 launch territories could increase, pending satisfactory and timely completion of other licensing negotiations in regions including South America.
James Barder, Futura's Chief Executive, said: "We are pleased with the progress made to date towards the launch of CSD500. We expect the product to be initially launched during 2014 in certain territories in the Middle East, Europe and potentially South America pending the conclusion of commercial negotiations. We anticipate further launches in a number of other territories in 2015 and beyond.
"Our decision to launch the product in at least one European country under a Futura brand name using outsourced distribution adds a further route to market for CSD500 and also broadens our business model as we focus on commercialising our product pipeline."
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Notes to editors:
About Futura Medical plc
Futura Medical is a pharmaceutical group that develops innovative products for consumer healthcare. The Company is developing a portfolio of products and its strategy is to license their manufacture and distribution to major pharmaceutical and healthcare groups. Commercial agreements are in place in relation to three products including agreements with international partners.
Futura is based in Guildford, Surrey, and its shares trade on the AIM market of the London Stock Exchange (AIM: FUM).