Join our daily newsletter At The Bell to receive exclusive market insights
- Starpharma (SPL) signs an agreement with Hengan Pharmacare for the sale and distribution of its nasal spray product, VIRALEZE, in Hong Kong and Macau
- The agreement will last for an initial two years and will see Starpharma supply VIRALEZE to Hengan, with the launch expected to occur in the next two to three months
- In addition to the VIRALEZE brand, the product under the distribution agreement will also carry Hengan Group’s local brand, which is used for its COVID-19-related products
- Hengan will be responsible for sales, final packing, distribution, and marketing in Hong Kong and Macau, with Starpharma to assist with regulatory activities
- Shares in Starphama are up 2.5 per cent and trading at 61.5 cents at 3:38 pm AEST
Starpharma (SPL) has signed an agreement with Hengan Pharmacare for the sale and distribution of its nasal spray product, VIRALEZE, in Hong Kong and Macau.
Hengan Pharmacare is a subsidiary of the Hengan Group, which is engaged in the manufacture, distribution and sales of personal care, face masks and hygiene products in Hong Kong, China and certain overseas markets.
The agreement will last for an initial two years and will see Starpharma supply VIRALEZE to Hengan, with the launch expected to occur in the next two to three months.
Hengan will be responsible for sales, final packing, distribution, and marketing in Hong Kong and Macau, and Starpharma said it would assist with importation and regulatory activities.
“We are delighted to partner with the Hengan Group to make VIRALEZE available in Hong Kong and Macau, including through two of the region’s major pharmacy chains,” Starpharma CEO Jackie Fairley said.
In addition to the VIRALEZE brand, the product under today’s distribution deal will also carry Hengan Group’s local brand, which is used for its COVID-19-related products such as face masks and rapid antigen tests.
Hengan Pharmacare Managing Director Wong Pui Wai Nancy said VIRALEZE was an ideal product to add to Hengan Group’s range.
Nevertheless, Starpharma said at this early stage, it was unable to estimate sales of VIRALEZE in these markets.
Shares in Starphama were up 2.5 per cent and trading at 61.5 cents at 3:38 pm AEST.
