Singapore ListCo Inks Deal with Thai Govt for its Proprietary Erectile Dysfunction Film Strips

Pasture Holdings, a Singapore-based pharmaceutical company, debuted on the Catalist Board of the Singapore Exchange in 2023.

Pasture has taken a big step to bring its first fast-dissolving medicine strips to market.

It has just signed a non-binding term sheet with Thailand’s Government Pharmaceutical Organization (GPO), under the Ministry of Public Health, to distribute its Oral Disintegrating Strips (ODS), known as HART-S.

HART-S is a proprietary formulation:

• It contains 50 mg of sildenafil, a drug commonly used to treat erectile dysfunction by improving blood flow to the penis.
• It dissolves quickly in the mouth without the need for water.
• It offers a discreet, fast-acting alternative to conventional tablets.

For Pasture, this is "the first commercial application of Pasture’s innovative ODS platform."

Pasture says that in a prospective, randomized clinical trial involving 120 men conducted independently by the Government Pharmaceutical Organization, HART-S was shown to be equally effective and safe as traditional tablets.

The study was published in 2021 and can be accessed at: https://doi.org/10.1016/j.esxm.2021.100453

Lloyd Soong6.23 Mr Soong founded Pasture in 1996 and has a Master of Business Administration (Strategic Marketing) from the University of Hull, England.

Pasture’s subsidiary and its appointed partner, Biogenetech Co., Ltd., signed the term sheet with GPO, giving GPO the exclusive right to distribute HART-S in Thailand for three years.

Positive, Faster Effects

A clinical trial involving 120 men with erectile dysfunction found that both the fast-dissolving strip of Pasture Holdings and the usual tablet form of sildenafil work just as well and are safe.

Both the strip and tablet improved erectile function to the same degree and were equally safe to use.
The strip took effect around 7 minutes faster on average than the tablet form.
Patients using the strip reported fewer episodes of flushing—a common side effect with sildenafil tablets.

For men who experience uncomfortable flushing with standard sildenafil tablets, the oral strip offers a discreet, water-free alternative that may feel more comfortable and act more quickly.

For the full report see:
https://doi.org/10.1016/j.esxm.2021.100453

The document outlines the main business and legal points—like sales terms and intellectual property rights—but does not become binding until a final contract is signed.

GPO -- which is responsible for producing and supplying essential medicines and medical supplies to ensure affordable access for Thai people -- will begin supplying HART-S to hospitals and pharmacies across Thailand.

CEO Lloyd Soong said the deal “opens new revenue opportunities and strengthens our regional presence”.

With Southeast Asia’s pharmaceutical market expanding—driven by an ageing population and shifting production closer to end markets—Pasture aims to roll out more innovative drug delivery solutions across the region.

Pasture also supplies over 1,000 third-party pharmaceutical products, as well as develops, markets, and sells its own proprietary range of masks, Pasture Masks.

Pasture’s First-Half FY25 (ended Dec 2024) Highlights:

Revenue rose 25.2% year-on-year to US $7.2 million, driven by higher orders from Canada and Hong Kong.
Gross profit jumped 60.5% to US $2.0 million, boosting the gross margin to 28% thanks to larger sales volumes and better efficiency.
The core pharmaceutical wholesale and drop-shipment business grew 23.5% to US $6.9 million by shipping directly from manufacturers to customers, cutting handling costs.
The company swung to a net profit of US $0.5 million, compared with a US $0.2 million loss a year earlier.

Singapore ListCo Inks Deal with Thai Govt for its Proprietary Erectile Dysfunction Film Strips

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