Evofem Signs Phexxi® License Agreement for Middle East with Pharma 1
Pharma 1 anticipates filing UAE regulatory submission for Phexxi as a hormone-free contraceptive in Q3 2024
SAN DIEGO, July 23, 2024 /PRNewswire/ — Women’s health innovator Evofem Biosciences, Inc. (OTCQB: EVFM) and private Emirati health care company Pharma 1 Drug Store LLC have signed a License and Supply Agreement for the Middle East rights to Phexxi® (lactic acid, citric acid, potassium bitartrate), Evofem’s FDA-approved hormone-free contraceptive.
Under the terms of the agreement, Pharma 1 will have the exclusive commercialization rights for Phexxi in the Middle East, including the United Arab Emirates (UAE), Kuwait, Saudi Arabia, Qatar and certain other countries in the region. Pharma 1 will be responsible for obtaining and maintaining any regulatory approvals required to market and sell Phexxi, and will handle all aspects of distribution, sales and marketing, pharmacovigilance and all other commercial functions in these countries.
“This agreement for Phexxi reflects our unwavering commitment to improve women’s health in the member states of the Gulf Cooperation Council (GCC),” said Abdulwahab Atfah, CEO of Pharma 1 Drug Store. “We expect to file for regulatory approval of Phexxi in the UAE in the very near future and look forward to launching this important product immediately following approval. Market research indicates a growing demand for hormone-free, on demand contraception in UAE and the surrounding region. We expect Phexxi will be extremely well received among OB/GYNs and the women they serve.”
“The Phexxi licensing agreement for the Middle East is an important milestone as we continue to execute Evofem’s strategy to expand and diversify our revenue stream. We are delighted to partner with Pharma 1, which is uniquely positioned to launch the product and provide women in the UAE and surrounding region with access to hormone-free, non-systemic birth control that they control and use on-demand, only when needed,” said Evofem CEO Saundra Pelletier.
Since its inception in 2019, Pharma 1 has continued to successfully execute its mission of offering practical solutions to fulfill health care needs based on scientific studies and accurate surveys. The company’s success reflects its substantial expertise, scientific approach, and agility to adapt to the very dynamic and growing market in the GCC.
Phexxi is the first and only locally-acting contraceptive gel approved by the FDA. It is applied zero-to-60 minutes before intercourse using a pre-filled applicator and works, without hormones, by maintaining the normal vaginal microbiome with a pH that is naturally inhospitable to sperm as well as certain viral and bacterial pathogens.