VivaGel BV

I still cannot get my head around the almost 3 full years of opportunity cost between VivaGel BV getting full EU approval (2015) and Starpharma subsequently signing a partnering deal with Mundipharma (2018).

There was talk that Starpharma would have preferred that VivaGel hit the shelves in the USA first with a higher pricing point but US sales were never going to happen until at least 2019. And we all know now that the FDA knocked back the VivaGel NDA with a handful of days to go in 2018.

On reflection one can only assume either:
a) gross incompetence by CEO Jackie Fairley and her team, or
b) in reality no pharmaceutical group was interested in executing a licence and Starpharma had to ‘settle’ for a take it or leave it approach to a proposal from Mundipharma 3 years later.

In the ASX release advising that EU approval had been achieved, shareholders were told that marketing rights discussions were already underway with multiple potential partners. We shareholders were spun that line for 3 long years until Mundipharma signed up.

During this 3 year period, VivaGel BV could have been establishing a best in class, first mover and leadership position and advantage in the BV market within 28 EU countries catering for 260m women (figures according to Starpharma).

So I ask this open question. In hindsight is the Fleurstat/VivaGel product itself the issue (not as good nor real potential as was touted) or is it a lack of competence, commercial nous and strategic thinking by our board and management led by CEO Jackie Fairley?

https://www.asx.com.au/asxpdf/20150924/pdf/431k3xq2m6t45f.pdf

https://starpharma.com/news/story/starpharma-licenses-vivagel-bv-to-mundipharma-for-europe

Vote NO to the AGM Remuneration Report and NO to the issue of performance rights to part-time CEO Jackie Fairley.