Futura Medical plc has announced that its distribution partner, Labatec Pharma, has received regulatory approval for MED3000, Futura's topical gel-based treatment for erectile dysfunction (ED), in the Kingdom of Saudi Arabia. Labatec will exclusively launch and commercialize MED3000 under the brand name Eroxon®, with the initial launch planned for Q4 2023. Saudi Arabia is one of the top ten ED markets in the world, and Labatec will showcase Eroxon at the Urological Association of Asia Congress 2023 in Dubai.
Futura is expanding its network of licensing and distribution partners and has now received regulatory approval in six Middle Eastern countries, including Saudi Arabia and the United Arab Emirates. This approval follows the recent European and UK launch of Eroxon and the FDA's approval of MED3000 in the USA as the first clinically proven gel for the treatment of ED available without a doctor's prescription.
James Barder, CEO of Futura, stated that the regulatory approval in Saudi Arabia is a significant milestone for the company and will allow Eroxon to improve the lives of ED patients in this key market. He also highlighted the rapid speed of onset of Eroxon, which helps men achieve an erection within 10 minutes. Barder emphasized that this approval comes at a pivotal time for the company as it continues to expand the availability of MED3000 globally by building its licensing and distribution network.