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Starpharma Holdings Limited (ASX:SPL) had made an announcement related to the regulatory approval with respect to VivaGel condom by the issuance of the press release. Starpharma happens to be in the business of developing dendrimer products for the life science, pharmaceutical as well as other applications. The securities of the company are trading in the United States with respect to ADR (or American Depository Receipts) program. Additionally, the securities also happen to be on OCTQX platform.
According to the press release dated January 2, 2019, VivaGel condom got the final regulatory approval and can enter into the Japan market as it has been reviewed by Japanese Pharmaceuticals and Medical Devices Agency. Starpharma had worked with the Japanese commercial partner named Okamoto Industries with regards to regulatory procedures. Okamoto Industries had started the important launch activities like the operations related to the manufacturing as well as labelling. Okamoto Industries believes it would roll out VivaGel condom in 1H 2019. However, Starpharma would be getting the royalty payments.
Let us understand a bit about Okamoto Industries. It happens to be on the list of leading condom marketers and it possesses significant share when it comes to Japanese condom market. The company is having the sales revenues of over US$1.1 billion and the company also has approximately 2600 employees. Even though the company has a strong position with respect to condom market in Japan, it also has a robust position with regards to the numerous markets in Asia like Malaysia, Taiwan, Korea, China, and Singapore. We will understand Starpharmaâs management views on the regulatory approval.
The chief executive officer or CEO of Starpharma reflected favorable views with regards to the regulatory approval and stated that getting the approval happens to be a crucial milestone with respect to VivaGel condom largely because of the position of the partner as well as because of robust value which Japanese condom market holds. Moreover, the top management of Okamoto also stated positive views with regards to the partnership which has been done with Starpharma. This companyâs management had also stated that now the innovation space related to condoms revolves around the functional coatings as well as gels considering condom market in Japan.
The press release which got issued also stated that VivaGel condom is available for the sale in the Canadian as well as Australian markets.
Let us now see how the stock of Starpharma has performed today. The stock ended the session in red and the stock price has settled at A$1.060 per share which implies that there has been a fall of A$0.125 per share or 10.549%. Starpharma Holdings Limited has a market capitalization of $440.37 million, and the stock price is trading slightly towards the lower level. We will now look at the past performance of the stock. Over the span of previous six months and three months, the stock has delivered the return of 0.85% and -27.08%, respectively. In the period of previous one month, it has given -24.28% return.
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