In a strategic move to bolster its presence in the Latin American market, Futura Medical PLC (AIM:FUM, OTC:FAMDF) has broadened its licensing agreement with M8 Pharmaceuticals Inc.
The expanded contract now includes an additional 14 countries across the Central and South American regions, extending the reach of its innovative sexual health product, MED3000.
The pharmaceutical company, known for its development of its fast-acting erectile dysfunction (ED) gel, initially agreed a deal with M8 in August 2021.
This tie-up granted M8 exclusive rights to develop and commercialise MED3000 in Brazil and Mexico, the largest healthcare markets in the region.
Following this, in October 2023, M8 secured the approval to market MED3000 in Mexico as an over-the-counter (OTC) treatment under the Eroxon brand.
"This is another major step forward in the execution of Futura's strategy," said Futura chief executive James Barder.
"M8 is an excellent partner with dedicated brand-building and marketing experience, as well as scale and strong pharmaceutical connections in South and Central America and we look forward to working closely with them across the Latin American region."