CHICAGO, Feb. 20, 2013 /PRNewswire/ -- At the London Summit on Family Planning in July 2012, The Female Health Company (NASDAQ-CM: FHCO) announced a commitment to increase access to its FC2 Female Condom for women in the world's poorest countries. The commitment was in response to the Summit's call for Public/Private Partnership support to achieve the goal of providing contraceptive products and related education to an additional 120 million women in 69 of the world's poorest countries by the year 2020.
The London Summit on Family Planning was hosted by the Bill and Melinda Gates Foundation and the U.K. Government with the United Nations Population Fund and other partners.
The Company has taken the following actions in reference to its three-part Public/Private Partnership commitment.
1. Commitment: Invest up to $14 million over the next six years into reproductive health and HIV/AIDS prevention education and training initiatives in collaboration with global agencies.
Action: The Company expects to spend approximately $2.3 million on education and training during FY2013.
2. Commitment: Aggregate annual FC2 purchases from all major public sector buyers each year to establish volume-based unit pricing for the succeeding year.
Action: Sales in 2012 for all major public sector customers were aggregated and volume-based pricing has been determined for calendar 2013.
3. Commitment: Award major public sector purchasers with FC2 Female Condoms equal to 5% of their total annual units purchased, at no cost to such purchasers.
Action: The Company has notified qualifying major public sector customers regarding their entitlement to 5% of the total FC2 units purchased during the initial six-month period from the start of the program on July 1, 2012 through December 31, 2012. Future entitlements to 5% no-cost product will be determined on a calendar year basis beginning with the year ending December 31, 2013.
"Our firm commitment to women's productive health includes increased access to contraceptives and HIV/AIDS prevention," noted O.B. Parrish, the Company's Chairman and CEO. "It was an honor to be part of the London Summit, and we will continue to do our part to improve the health of women in the world's poorest countries."
About The Female Health Company
The Female Health Company, based in Chicago, Illinois, manufactures and markets the FC2 Female Condom® (FC2). The FC2 Female Condom® is available in the U.S. and in approximately 138 other countries globally. The Company owns certain worldwide rights to the FC2 Female Condom®, including patents that have been issued in the U.S., the European Union, Canada, Australia, South Africa, Japan, The People's Republic of China, Spain, Mexico, Greece, Turkey and the African Regional Intellectual Property Organization (ARIPO), which includes Botswana, The Gambia, Ghana, Kenya, Lesotho, Malawi, Mozambique, Namibia, Sierra Leone, Sudan, Swaziland, Uganda, Tanzania, Zambia and Zimbabwe. FC2 patent applications are pending in various countries. The FC2 Female Condom® is the only available FDA-approved product controlled by a woman that offers dual protection against sexually transmitted diseases and unintended pregnancy. The World Health Organization (WHO) has cleared FC2 for purchase by U.N. agencies.
"Safe Harbor" statement under the Private Securities Litigation Reform Act of 1995:
The statements in this release which are not historical fact are "forward?looking statements" as that term is defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements in this release include statements regarding future unit pricing and investment in HIV/AIDS prevention education and training. These statements are based upon the Company's current plans and strategies, and reflect the Company's current assessment of the risks and uncertainties related to its business, and are made as of the date of this release. The Company assumes no obligation to update any forward?looking statements contained in this release as a result of new information or future events, developments or circumstances. Such forward?looking statements are inherently subject to known and unknown risks and uncertainties. The Company's actual results and future developments could differ materially from the results or developments expressed in, or implied by, these forward?looking statements. Factors that may cause actual results to differ materially from those contemplated by such forward?looking statements include, but are not limited to, the following: product demand and market acceptance; competition in the Company's markets and the risk of new competitors and new competitive product introductions; the Company's reliance on its international partners in the consumer sector and on the level of spending on the female condom by country governments, global donors and other public health organizations in the global public sector; the economic and business environment and the impact of government pressures; risks involved in doing business on an international level, including currency risks, regulatory requirements, political risks, export restrictions and other trade barriers; the Company's production capacity, efficiency and supply constraints; changes in costs of raw materials, labor costs and other manufacturing costs; and other risks detailed in the Company's press releases, shareholder communications and Securities and Exchange Commission filings, including the Company's Form 10?K for the fiscal year ended September 30, 2012. Actual events affecting the Company and the impact of such events on the Company's operations may vary from those currently anticipated.
For more information about the Female Health Company visit the Company's website at http://www.femalehealth.com and http://www.femalecondom.org If you would like to be added to the Company's email alert list, please send an e-mail to FHCInvestor@femalehealthcompany.com
SOURCE The Female Health Company
CONTACT: William R. Gargiulo, Jr., +1-231-526-1244, or Michele Greco, CFO, +1-312-595-9123
Web Site: http://www.femalehealth.com