Total
0
Shares
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Pharmaceutical company Starpharma has acquired regulatory approval to distribute its VivaGel condoms in Europe
  • Starpharma will complete the agreement in a deal with distribution partner LifeStyles (formerly known as Ansell)
  • Strapharma will market its VivaGel condom under the brand name Absolute DUAL PROTECTION
  • The distribution deal means Europe will join Japan, Canada and Australia in supplying Starpharma’s VivaGel condoms
  • Shares in the pharmaceutical company rose 1.54 per cent on the ASX today, now trading for A$1.32 apiece

Pharmaceutical company Starpharma has acquired regulatory approval to distribute its VivaGel condoms in Europe.

In an announcement released to the market today, Starpharma said they would complete the agreement in a deal with European distribution partner LifeStyles (formerly known as Ansell).

Through the new deal, Strapharma will market its VivaGel condom under the brand name Absolute DUAL PROTECTION.

The distribution deal means Europe will join Japan, Canada and Australia in supplying Starpharma’s VivaGel condoms.

“It’s great to have another important market approved for the VivaGel® condom and to achieve a further commercial milestone for our VivaGel® portfolio,” said Starpharma CEO Dr Jackie Fairley.

“The global condom market was valued at US$7.9B in 20181 and projected to grow by 8.5% per year. Europe is a major region and our partner LifeStyles is a significant player in that market,” she continued.

Starpharma’s patented condoms are described as a world-first product, built with Australian VivaGel technology. It’s the only condom of its type on the global market, incorporating chemical compound astodrimer sodium to the condom’s lubricant.

This patented chemical, also known as VivaGel, acts as an antiviral agent to combat STIs and Bacterial Vaginosis (BV).

Starpharma’s distribution partner, LifeStyles, is the world’s most prominent sexual wellness brand, supplying distributors with a wide variety of latex and latex-free condom brands.

LifeStyles CEO Jeyan Heper said the brand was a global leader in sexual wellness.

“We are committed to making safe sex fun by offering new and unique products, and we’re delighted to add the highly innovative VivaGel® condom to the range we offer in Europe. The Absolute™ DUAL PROTECTION condom is a great example of a new and ground-breaking sexual-health product,” he stated.

Starpharma specialises in creating antiviral products with a focus on sexual health and wellness. The company also produces non-antibiotic remedies for women suffering from Bacterial Vaginosis.

The pharmaceutical company saw a 1.54 per cent spike in share value following the distribution announcement.

Stocks are now trading for A$1.32 apiece in a A$491 million market cap.

SPL by the numbers
More From The Market Herald
Atomo Diagnostics (ASX:AT1) - Managing Director, John Kelly

" Atomo (ASX:AT1) approved to supply and advertise HIV Self-Test

Atomo Diagnostics (AT1) can now supply its HIV self-test to a greater variety of organisations and begin advertising thanks to recent changes made
Starpharma (ASX:SPL) - CEO, Dr Jackie Fairley

" Starpharma (ASX:SPL) signs VIRALEZE supply deal for Vietnam

Starpharma (SPL) has penned an initial deal to distribute and supply its VIRALEZE antiviral nasal spray in Vietnam.
Paradigm Biopharmaceuticals (ASX:PAR) - Chief Medical Officer and Executive Director, Dr Donna Skerrett

" Paradigm Biopharmaceuticals (ASX:PAR) amends clinical trial

Paradigm Biopharmaceuticals (PAR) has made amendments to its clinical trial protocol for knee osteoarthritis treatment.
ResApp Health (ASX:RAP) - CEO & Managing Director, Dr Tony Keating

" ResApp (ASX:RAP) completes recruitment for Indian COVID-19 study

ResApp Health (RAP) has completed the recruitment ahead of schedule for its Indian COVID-19 clinical study.