Futura Medical has had a price target of 102p or five times the current market price reiterated by broker Liberum after the commercialisation deal for MED3000 with Menarini announced today.
Specifically, Menarini’s South Korea subsidiary will assume responsibility for the approval and marketing of MED3000 in this geography.
Futura will receive an undisclosed up-front payment and will sell MED3000 to Menarini at a pre-agreed price.
This adds to three previously signed deals (Asia, Latin America and the Middle East) with a launch in Europe later in 2021.
Buy is the house broker’s rating.