Business
Manufacturing and Distribution Agreements with TTK
Manufacturing and Distribution Agreements with TTK.
About this update from Futura Medical Plc
[{"type":"text","content":"\n \nRNS Number : 9244A Futura Medical PLC 13 June 2016 \n\n\n\n\n\nFor immediate release \n\n\n13 June 2016\n\n\n\n\n \n \nFutura Medical plc\n(\"Futura\" or the \"Company\")\n \nSigns Manufacturing and Distribution Agreements with TTK\n \n \nFutura Medical plc (AIM: FUM), the innovative healthcare company focused on advanced transdermal technology, is pleased to announce that it has signed manufacturing and distribution agreements with TTK Protective Devices Limited (\"TTK\"), a pioneer in the condom business and part of the substantial Indian conglomerate TTK Group.\n \nUnder the terms of the manufacturing agreement, TTK will manufacture CSD500, Futura's novel erectogenic condom for supply worldwide. A regulatory filing has already been made with EU regulatory authorities to grant TTK the relevant authorisation to manufacture the product. \n \nTTK will be one of two manufacturers of CSD500 as part of the Company's strategy to guarantee international supply. A European manufacturer already holds regulatory authorisation to manufacture the version of CSD500 currently marketed in the Netherlands and is awaiting regulatory authorisation for the extended shelf-life version of the product. \n \nFutura has also signed an exclusive licensing agreement with TTK for the marketing and distribution of CSD500 in India for the lifetime of the patents. Futura will receive an upfront payment and royalties on product sales over the duration of the agreement.\n \nTTK already owns the fastest growing condom brand in India, SKORE, which since its launch three years ago has achieved in excess of a 10% market share. TTK is attracted by the unique characteristics of CSD500 to further drive the growth of the SKORE brand. Subject to regulatory approval, CSD500 is expected to be launched by TTK in Q1 2017.\n \nJames Barder, Futura Medical's Chief Executive, said: \"I am delighted to sign these two agreements for worldwide manufacturing and for distribution in India of our novel erectogenic condom, CSD500. It has always been our manufacturing strategy to offer CSD500's licensees the guarantee of supply by having dual sourced manufacture in Europe and in Asia. TTK is an ideal manufacturing partner as it is a highly experienced condom maker that has supplied the world's largest condom brands.&...