Starpharma (ASX:SPL) today announced that following the successful launch of the VivaGel antiviral condom by Okamoto Industries in Japan, they are now seeking to expand its licence territory in Japan.
As a result, Starpharma has granted Okamoto marketing rights to a further 11 countries in Asia which include South Korea, Indonesia, Malaysia, Thailand, Singapore and the non-government China market.
Okamoto holds strong condom market positions in the region, with a number 1 or 2 ranking in several of the relevant Asian countries.
They have a revenue of approximately US$1 billion with more than 2,600 employees and is Japan’s leading marketer of condoms.
Shares in Starpharma (ASX:SPL) are trading 0.5 per cent lower at $1.