Jun 04, 2019
Okamoto launches VivaGel® condom in Japan
Melbourne, Australia; 4 June 2019: Starpharma (ASX: SPL, OTCQX: SPHRY) today announced that the VivaGel® condom has been launched in Japan under Okamoto’s leading and highly successful Zero Zero Three (003) brand. This is the first condom with antiviral coating in Japan and will also carry Starpharma’s VivaGel® brand.
The VivaGel® condom is a world-first product based on innovative Australian technology. It is the only condom of its type, providing barrier protection and incorporating the proprietary compound, astodrimer sodium (SPL7013) in the condom lubricant. SPL7013 has been proven in laboratory studies to inactivate up to 99.9% of HIV, HSV and HPV.
Okamoto is Japan’s leading marketer of condoms with a majority share of the Japanese condom market, which is one of the world’s largest condom markets having an estimated value in the order of US$500 million per annum. Okamoto has annual sales revenue of approximately US$1 billion and employs around 2,600 employees.
Starpharma is eligible to receive royalties based on sales of the VivaGel® condom and also revenue on supply of SPL7013 active. Starpharma received first receipts from Okamoto in April.
Starpharma Chief Executive Officer, Dr Jackie Fairley, said, “We are delighted to see the VivaGel® condom launched in Japan and look forward to its success as Okamoto rolls out the product throughout Japan. This Japanese launch of the VivaGel® condom represents an important milestone for the product considering Okamoto’s leading market position in one of the world’s largest condom markets. We are very pleased to be working with a company with such a deep heritage in the Japanese market and a strong record in the successful commercialisation of new products.”
In addition to its dominant position in the Japanese condom market, Okamoto also holds strong market positions in several other Asian markets, including Korea, Taiwan, Thailand, Singapore and China.
Okamoto have highlighted that condoms with functional coatings and gels represent the next wave of innovation in the Japanese condom market. Mr. Ikeda, Okamoto’s senior managing director, said “We are very pleased to be in a partnership with Starpharma for this innovative product and excited about this launch.”
The VivaGel® condom is also approved for sale in Australia and Canada, and further regulatory reviews continue in a number of other geographic regions.
Download ASX Announcement: Okamoto launches VivaGel condom in Japan (PDF 115kb)