Australia’s Starpharma Holdings has announced the signing of a License and Supply Agreement with Koushan Pharmed for the sales and marketing rights to the VivaGel® condom in Iran.
According to a statement from the company, 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 (pictured), 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.”