The Motley Fool

The Starpharma Holdings share price slumped 10.5% on Wednesday

The Starpharma Holdings Limited (ASX: SPL) share price fell 10.55% on Wednesday, closing the session at $1.06.

This came despite the Melbourne-based pharmaceutical company announcing that its condom that kills certain STIs will soon be sold in Japan, one of the world’s largest condom markets.

Starpharma’s VivaGel condom contains a lubricant gel proven in laboratory settings to kill HIV, the herpes virus and HPV, the human papillomavirus that causes cervical cancer.

Starpharma said on Wednesday the condom had received final regulatory approval in Japan and will be sold there by leading Japanese condom manufacturer Okamoto Industries under a licensing agreement.

Okamoto executive Keiji Ikeda said that condoms with functional gels represent the next wave in innovation in Japan, following a previous focus on condom thinness.

Starpharma CEO, Dr. Jackie Fairley, called the regulatory approval “a key commercial milestone” for the condom.

VivaGel condoms are also approved for sale in Australia and Canada, where they are sold as LifeStyles Dual Protect Condoms.

The Starpharma share price has fallen 22.63% over the last 12 months, compared to the S&P/ASX 200 Index, which has fallen roughly 8.3%.

with AAP

The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

5 ASX Stocks for Building Wealth After 50

I just read that Warren Buffett, the world’s best investor, made over 99% of his massive fortune after his 50th birthday.

It just goes to show you… it’s never too late to start securing your financial future.

And Motley Fool Chief Investment Advisor Scott Phillips just released a brand-new report that reveals five of our favourite ASX stocks for building wealth after 50.

– Each company boasts strong growth prospects over the next 3 to 5 years…

– Most importantly each pays a generous dividend, fully franked.

Simply click here to find out how you can claim your FREE copy of “5 ASX Stocks for Building Wealth After 50.”

See the stocks now