Further Positive Market Research Data for MED2002
16 October 2017
Futura Medical plc (AIM: FUM), the innovative healthcare company focused on advanced transdermal technology, announces that it has recently completed primary market research indicating that more than 60 per cent of physicians in the US consider that MED2002, the Company's novel gel for erectile dysfunction ("ED"), is an improvement over current ED therapies.
The research, carried out by leading healthcare strategy firm Cello Health Consulting ("Cello"), also revealed that at least 10 per cent of ED patients were contra-indicated to PDE5 inhibitors (such as Viagra® or Cialis®) because of their existing nitrate medication, a larger percentage than the 7.5 per cent historically stated by the Company based on previously conducted research.
The results of the survey are based on interviews with a total of 200 doctors in the US, Germany and France. To qualify for the interview each of the doctors had to been in general practice for at least five years and treated a minimum of 15 ED patients per month. Previously commissioned research by Futura into the potential size of both the prescription and over the counter (OTC) markets showed the significant commercial potential of the product. The Cello research was commissioned to gain insight into the attitudes of front line doctors who would be prescribing or recommending MED2002 to their patients - a crucial part of the sales process.
Of the doctors interviewed, 64 per cent in the US, 60 per cent in Germany and 54 per cent in France considered that MED2002 is an improvement over current ED treatments, which are dominated by PDE5 inhibitors.
The results of the survey show that MED2002 could capture between a quarter and a third of the estimated ED patients in the US, including newly diagnosed and existing patients. The rapid speed of onset, of normally within five minutes, and the spontaneity associated with the use of the product were given by doctors as key reasons for expected patient use of the product.
The research focused on MED2002 as a treatment launched in a generic prescription market and its results were consistent, in terms of the differentiation of the product, with earlier research commissioned by the Company into MED2002 as a prescription medicine and, for later in its product cycle, as an OTC medicine.
James Barder, Futura's Chief Executive, said: "We are delighted by the results of this new survey, which not only reinforce the potential of MED2002 identified in our two earlier surveys but provide some important additional insights. In particular, the number of ED patients contra-indicated to PDE5 inhibitors because of their existing nitrate medication is potentially much greater than we had previously thought.
"MED2002's rapid speed of onset helps to restore intimacy and spontaneity for the ED patient and his partner and this unique proposition clearly addresses an unmet need with at least two thirds of the doctors interviewed stating this is a very appealing feature. It is also particularly encouraging that more than half of all the doctors interviewed in the survey considered MED2002 to be an improvement over currently available ED therapies. Our clinical and commercial development of MED2002 is progressing well and we look forward to providing a further update shortly."
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Notes to Editors
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.
Futura is based in Guildford, Surrey, and its shares trade on the AIM market of the London Stock Exchange.