Futura's erection-boosting condom gets EU backing

LONDON, June 20 (Reuters) - British company Futura Medical said its erection-enhancing condom, licensed to Reckitt Benckiser for sale under its Durex brand, had been recommended for European approval.

The CSD500 condom has a small amount of gel in its tip that dilates the arteries and increases blood flow to the penis, resulting in a firmer and bigger erection, studies by Futura published in 2008 showed.

Futura said on Monday products usually took about a month to receive CE mark certification after recommendation. The mark would enable the condom to be sold in 29 European territories and a number of other non-European countries.

Nomura Code analyst Michael King said news of the long-awaited approval should be very reassuring for Futura's shareholders.

He said under the agreement, Reckitt Benckiser had six months from approval to launch the product, which could achieve a successful market share of 5 percent, generating annual royalties of about 10 million pounds ($16 million) for Futura.

Futura shares were up 4.5 percent at 1045 GMT, while shares in Reckitt Benckiser were flat. (Reporting by Paul Sandle; Editing by Dan Lalor) ($1 = 0.6198 pound)