Australian biotech Starpharma has struck a deal to supply the government segment of the Chinese condom market with its VivaGel condoms.
Source: AAP
21 JUL 2016 - 2:58 PM UPDATED 24 MINS AGO
Starpharma's share of the Chinese condom market is set to become significantly bigger with the Australian biotech sealing a deal to supply the government with antiviral prophylactics.
Starpharma has signed a license and supply deal with the Shenyang Sky and Latex Co for the manufacture and sale of Starpharma's VivaGel condoms to the government. China's government provides about three billion condoms to its citizens each year through a number of programs. Sky and Land, which has a number of condom manufacturing plants in China, is a major provider of condoms to the Chinese government. Under the deal, Starpharma will supply the VivaGel active ingredient for Sky and Land to manufacture the condoms. "This new license in China significantly expands the market opportunity for the VivaGel condom into a market segment not captured by our current licensees," Starpharma chief executive Dr Jackie Fairley said on Thursday. "The Chinese condom market will grow by early 60 per cent in the next five years." The VivaGel condom is coated with an antiviral lubricant, which has been shown in laboratory studies to be active against HIV (human immunodeficiency virus), HSV (herpes simplex virus) and HPV (human papilloma virus). It is also active against the Zika virus. Starpharma shares were 3.5 cents higher at 74.5 cents at 1427 AEST.
