Here’s why the Starpharma (ASX:SPL) share price is charging 4% higher today

This healthcare share is ending the week strongly…
The post Here’s why the Starpharma (ASX:SPL) share price is charging 4% higher today appeared first on The Motley Fool Australia. –

The Starpharma Holdings Limited (ASX: SPL) share price is on course to end the week on a positive note.

In morning trade, the dendrimer products developer’s shares are up 4.5% to $1.25.

Why is the Starpharma share price rising?

The catalyst for the rise in the Starpharma share price on Friday has been the release of an announcement relating to its Viraleze antiviral nasal spray.

According to the release, the company has signed a sales and distribution agreement for Viraleze with Admenta Italia Group. It is a leading pharmaceutical retail and wholesale distribution company in Italy.

The company notes that the Italian over the counter (OTC) pharmaceutical market is the third largest in Europe after Germany and the UK. Admenta is a leader in the market operating over 260 pharmacies under its LloydsFarmacia brand, including 13 parapharmacies and 50 franchising pharmacies.

The release explains that the Viraleze product is expected to be available to Italian consumers in stores and via LloydsFarmacia’s online platform this quarter. Under the agreement, Starpharma will supply Viraleze and Admenta will be responsible for distribution, sales, and marketing of the product in the country.

What is Viraleze?

Viraleze is a broad-spectrum antiviral nasal spray which is applied in the nose to provide a physical barrier between viruses and the nasal mucous membrane. The product traps and irreversibly inactivates virus, including SARS-CoV-2.

Positively, the antiviral agent in Viraleze, known as SPL7013, has been shown in laboratory studies to have potent antiviral and virucidal activity in multiple respiratory viruses and multiple variants of SARS-CoV-2. This includes the inactivation of >99.9% of the highly infectious Delta variant.

Starpharma’s CEO, Dr Jackie Fairley, commented: “We are very pleased to have partnered with Admenta in Italy and we look forward to having Viraleze available soon to Italian consumers, through pharmacies as well as through the leading LloydsFarmacia online platform.”

The post Here’s why the Starpharma (ASX:SPL) share price is charging 4% higher today appeared first on The Motley Fool Australia.

Should you invest $1,000 in Starpharma right now?

Before you consider Starpharma, you’ll want to hear this.

Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Starpharma wasn’t one of them.

The online investing service he’s run for nearly a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.

*Returns as of August 16th 2021

More reading

These were the best performing ASX biotech shares in September

Starpharma (ASX:SPL) share price surges 5% on United States patent news
Why Accent, Calix, Pilbara Minerals, & Starpharma shares are racing higher

Motley Fool contributor 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 and has recommended Starpharma Holdings Limited. The Motley Fool Australia has recommended Starpharma Holdings Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;

To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.

An active and funded account with a positive trading balance is required to continue to have access to the tools;

Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;

Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!