Healthcare company, Futura Medical, has announced that it has received a formal notice from Church & Dwight that it intends to terminate the licensing agreement that was originally signed in 2013.
Termination of agreement
The original agreement covered the manufacturing, marketing and distribution rights of Futura Medical’s products within North America and certain European countries. Once the licensing agreement is terminated the rights will be returned to Futura Medical. This decision has been made as a result of a change in strategic priorities.
“Whilst this change of strategic priorities is disappointing, we have been advised by Church & Dwight that consumer research regarding the in-use performance and safety of the product conducted by them is not materially different to clinical and market research previously carried out by the Company in The Netherlands and UK. Our objective, once the rights are returned, will be to seek new commercial terms with potential partners who have previously expressed strong interest in the product,” explained James Barder, Futura’s chief executive.
”The commercialisation strategy for CSD500 has been on a territorial basis, in part because of the requirement to partner with locally trusted brands. The return of the rights for North American and certain European countries is not expected to have any impact on the launch of the product in other geographies, on which a further progress update will be issued in September 2017.
“In the meantime our development programmes for our pain relief and erectile dysfunction gels continue as planned.”