Melbourne-based Starpharma Holdings Limited
(ASX:SPL) is pushing its lead product VivaGel into Japan. The pharmaceutical company says its VivaGel-coated condom has been approved for marketing in the world’s second largest condom market.
VivaGel is licensed as a condom coating for the Japanese market to Okamoto Industries - who hold a 60 per cent share of the Japanese condom market.
Starpharma CEO Jackie Fairley says following this certification the company looks forward to introducing its product into the Japanese market with Okamoto.
Okamoto’s Senior Managing Director says condoms with functional coatings and gels represent the next wave of innovation after a decades-long focus on condom thinness.
Starpharma advises the value of the Japanese condom market has been estimated at $US500 million.
The company’s Japanese partnership comes after it inked a separate licensing agreement with Ansell Limited
(ASX:ANN) to provide marketing rights to VivaGel-coated condoms in countries outside Japan.
Starpharma Holdings booked a net loss of $5.6 million in the first half of the 2014 financial year.
