Business
Evofem Signs Phexxi® License Agreement for Middle East with Pharma 1
Evofem Signs Phexxi® License Agreement for Middle East with Pharma 1.
About this update from Evofem Biosciences, Inc.
[{"type":"text","content":"\n\n\n\nEvofem Signs Phexxi® License Agreement for Middle East with Pharma 1\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prnml40{\nMARGIN-LEFT:3.33em !IMPORTANT\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\nEvofem Signs Phexxi® License Agreement for Middle East with Pharma 1\nPR Newswire\nSAN DIEGO, July 23, 2024\n\n\n\n— Pharma 1 anticipates filing UAE regulatory submission for Phexxi as a hormone-free contraceptive in Q3 2024 —\n— UAE contraceptive drug market is projected to reach $185.1 million by 2030 —\nSAN 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. \n\n \n \n \n \n \n \n\n \nUnder 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.\n\"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.\"\n\"The Phexxi licensing agreement for the ...