Melbourne, Australia; 28 November 2016: Starpharma Holdings Ltd (ASX: SPL, OTCQX: SPHRY) today announced the signing of a License and Supply Agreement with Koushan Pharmed for the sales and marketing rights to the VivaGel® condom in Iran.
Iran represents a commercially attractive retail market for condoms with over 60% of the 75 million population under 30 years of age.
Koushan Pharmed, one of the fastest growing pharmaceutical companies in Iran, is a privately owned fully integrated company with a portfolio of pharmaceutical, over-the-counter (OTC) and medical device products. Koushan Pharmed sources products from a variety of international partners, delivering innovative medical treatments to the Iranian population.
Under the License Agreement, Starpharma will supply VivaGel® condoms and Koushan Pharmed is responsible for marketing, promotion and local distribution of the product to pharmacies. Koushan Pharmed will be responsible for registering the product through the Iranian Ministry of Health utilising data from Starpharma’s existing regulatory dossiers and leveraging existing regulatory approvals. The commercial terms of the agreement are confidential.
Starpharma’s CEO, Dr Jackie Fairley, stated: “Koushan Pharmed is an ideal sales and marketing partner for the VivaGel® condom in the Iranian market. They have a proven track record of successfully marketing international products and a strong local sales presence with pharmacists. The supply of our VivaGel® condom into Iran represents a significant market opportunity not previously accessed under our other licenses.”
Koushan Pharmed’s Managing Director, Dr Amir Vali, stated: “Koushan Pharmed aims to improve lives by providing innovative and high quality healthcare products to the Iranian people. We identified the Starpharma VivaGel® condom as a novel product well suited to the Iranian market and a unique opportunity to expand our product portfolio with a highly innovative product. We look forward to preparing to launch this product in 2017 and a long and successful partnership with Starpharma.”
About VivaGel® condoms
The VivaGel® condom contains the antiviral VivaGel® active. While the physical barrier of the condom provides primary protection against sexually transmitted infections (STIs), VivaGel® is included in the condom lubricant as an antiviral agent that has been proven, in laboratory studies only, to inactivate up to 99.9% of HIV, HSV and HPV, which are viruses that cause STIs.
More recently, the VivaGel® active was also shown to have potent antiviral activity against Zika virus, which can also be sexually transmitted.
VivaGel® condoms have also been licensed by Starpharma to Ansell, Okamoto and Shenyang Sky and Land Latex Co. for other territories. They are available for purchase under Ansell’s Lifestyles® Dual Protect™ brand in Australia, due for launch in Canada in the near future and under advanced review in other jurisdictions.
About Koushan Pharmed
Founded in 2008, Koushan Pharmed is a privately owned pharmaceutical company operating in Tehran, Iran, under a well-established parent company, Ahran Tejarat. Koushan Pharmed is involved in the import, development, manufacture, sales and marketing of generic pharmaceuticals, OTC medicines and medical devices. The company focuses on respiratory, gynaecology, cardiovascular, gastrointestinal, endocrinology, orthopaedic and OTC pharmaceuticals.
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Last updated on: 29/11/2016
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