CHICAGO, July 19, 2012 /PRNewswire/ -- The Female Health Company (NASDAQ-CM: FHCO) – today announced its commitment to help advance the groundbreaking London Summit on Family Planning goal of getting contraceptive products, information, services and supplies to an additional 120 million women and girls in the world's poorest countries by 2020. The Summit estimated the value of FHC's commitment to be $23 million (over an eight year period). The Female Health Company, the only condom manufacturer to attend, was one of four private companies that both attended the Summit and made a commitment to its goals.
Led by the British government and the Bill and Melinda Gates Foundation, the London Summit on Family Planning, held last week in conjunction with World Population Day ( July 11, 2012), brought together more than 150 leaders from the public and private sector to provide women and girls with the tools and resources they need to decide for themselves, whether, when and how many children they have. The Summit also addressed the linkages between family planning and sexual and reproductive health, including HIV/AIDS prevention. HIV/AIDS is the leading cause of death among women of reproductive age. The female condom is the only female-initiated product that provides dual protection against both unintended pregnancy and sexually transmitted infections, including HIV/AIDS. At the end of the Summit, it was announced that a total of approximately $4.6 billion had been pledged to support the eight year program's goal.
In response to the Summit's global call for support and resources and in an effort to increase access of its female condom to women to prevent unintended pregnancy and sexually transmitted infections including HIV, The Female Health Company, producers of the FC2 Female Condom®, announced a three-pronged commitment to:
- Invest up to $14 million over the next six years in reproductive health and HIV/AIDS prevention education and training, in collaboration with global agencies;
- Aggregate annual public sector purchases from all large buyers to set prospectively volume-based discounts on unit pricing; and
- Award major purchasers with free product, equal to 5 percent of their total annual units purchased.
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