The Starpharma Holdings Limited (ASX: SPL) share price is pushing higher on Thursday after the release of a positive update.
In morning trade the dendrimer products developer’s shares are up 3% to $1.17.
What did Starpharma announce?
Investors have been buying Starpharma’s shares after it announced the launch of VivaGel BV in Asia by Mundipharma under the brand name BETADINE BV Gel.
According to the release, the product has initially been launched in South East Asia, with further roll-outs in additional Asian countries planned as regulatory approvals are granted.
BETADINE BV Gel will be available over the counter, without the need to see a doctor or obtain a prescription.
This is the third region that VivaGel BV has been launched in and represents a lucrative commercial opportunity for Starpharma, with access to more than 1.5 billion women.
What is VivaGel BV?
VivaGel BV is a novel, non-antibiotic therapy for treatment and prevention of bacterial vaginosis (BV). BV is the most common vaginal condition worldwide and twice as common as thrush.
It is a troublesome and often recurrent condition that causes unpleasant odour and discharge symptoms that have significant social impacts for women. It has also been associated with a range of other serious reproductive health-related medical problems.
The company’s CEO, Dr Jackie Fairley, was very pleased with this launch and believes Mundipharma is a great partner to have in this market.
She said: “We are delighted to achieve another territory launch of VivaGel BV with Mundipharma. Asia represents an important market for VivaGel BV and we’re delighted that our breakthrough product will be available to millions of Asian women who suffer from BV. Mundipharma have a leading position in feminine care in Asia with their successful international brand BETADINE. We look forward to working with Mundipharma on further registrations and launches across the globe.”
This sentiment was echoed by Mundipharma CEO Raman Singh.
Singh said: “BETADINETM BV Gel is a significant addition to the BETADINE product portfolio which continues to evolve to meet women’s everyday health needs across Asia. It is already enabling women across Southeast Asia to access affordable and effective treatment for BV over-the-counter as part of our shared ambition with Starpharma to enhance women’s health’s across Asia.”
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James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of Starpharma Holdings Limited. The Motley Fool Australia has recommended Starpharma Holdings Limited. 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.