The Starpharma Holdings Limited (ASX: SPL) share price is pushing higher on Wednesday.
In morning trade the dendrimer products developer's shares are up 3% to $1.36.
Why is the Starpharma share price pushing higher?
Investors have been buying Starpharma's shares after it announced that its VivaGel BV product has been launched in the United Kingdom under the brand Betafem BV Gel.
VivaGel BV is a novel, non-antibiotic therapy for the treatment of bacterial vaginosis (BV) and prevention of recurrent BV.
BV is the most common vaginal condition worldwide and twice as common as thrush. One in three women will experience BV and half of these women will have recurrent BV.
Today's news follows the first European launches of the product in June 2019, including in Germany and other countries. It is available over-the-counter in Europe, without the need to see a doctor or obtain a prescription.
Management notes that Europe represents a large commercial opportunity for VivaGel BV, with access to more than 260 million women.
Dr Jackie Fairley, Starpharma CEO, said: "We are delighted to see VivaGel BV launched in the UK. Starpharma and Mundipharma are working closely together to bring this breakthrough product to European women suffering from BV. We look forward to working with Mundipharma on further registrations and launches across the globe."
Mundipharma's CEO, Raman Singh, also spoke positively of the launch.
Singh said: "VivaGel BV is an important addition to the Betadine product portfolio, which continues to evolve to support women's everyday health and well-being around the world. Together with Starpharma we look forward to realising our joint ambition for Betafe and women's health."
The two parties are not resting on their laurels, though. The release explains that they continue to work proactively on regulatory and roll-out activities of VivaGel BV across other Mundipharma's regions.
