MUMBAI,
India and NAPLES, Fla. and
SAN DIEGO, July 15,
2024 /PRNewswire/ -- Global pharma major Lupin
Limited (Lupin) (BSE: 500257) (NSE: LUPIN) (REUTERS: LUPIN.BO)
(BLOOMBERG: LPCIN) announced today that it has divested its U.S.
Commercial Women's Health Specialty Business to Evofem Biosciences,
Inc. (OTCQB: EVFM) (Evofem), a U.S. biopharmaceutical company
focused exclusively on Women's Health. Lupin's U.S. Commercial
Women's Health Specialty Business is primarily focused on
commercializing SOLOSEC® (secnidazole) 2g oral granules. This
FDA-approved single-dose antimicrobial agent provides a complete
course of therapy for the treatment of bacterial vaginosis (BV) and
trichomoniasis, two common sexual health infections.
Under the terms of the deal, Lupin can receive a potential total
consideration of up to USD 84 million
based on future contingent milestones.
Dr. Fabrice Egros, President -
Global Corporate Development, Lupin, said, "We are very pleased
to divest our U.S. Commercial Women's Health Specialty business,
including SOLOSEC®, to Evofem. This divestment is another step in
aligning our U.S. specialty business with our strategic plan
to build our specialty business in therapeutic areas where we have
building blocks of synergy. These include respiratory and
neurological diseases."
"The acquisition of this commercial business aligns with and
advances our mission to improve access to innovative and
differentiated options that impact women's daily lives. SOLOSEC is
a commercially attractive, single-dose oral antibiotic that
addresses two pervasive sexual health infections. We can now fully
leverage our commercial infrastructure, maximize our strong
physician relationships, and re-launch an asset with tremendous
growth potential," said Saundra
Pelletier, Chief Executive Officer, Evofem.
About Lupin
Lupin is an innovation-led transnational pharmaceutical company
headquartered in Mumbai, India.
The Company develops and commercializes a wide range of branded and
generic formulations, biotechnology products, and APIs in over 100
markets in the U.S., India,
South Africa, and across the
Asia Pacific (APAC), Latin America (LATAM), Europe, and Middle
East regions.
The Company enjoys a leadership position in the cardiovascular,
anti-diabetic, and respiratory segments and has a significant
presence in the anti-infective, gastro-intestinal (GI), central
nervous system (CNS), and women's health areas. Lupin is the
third-largest pharmaceutical company in the U.S. by prescriptions.
The company invested 7.8% of its revenue in research and
development in FY24.
Lupin has 15 manufacturing sites, 7 research centers, more than
20,000 professionals working globally, and has been consistently
recognized as a 'Great Place to Work' in the Biotechnology &
Pharmaceuticals sector.
Please visit www.lupin.com for more information.
Follow us on:
LinkedIn: https://www.linkedin.com/company/lupin
Facebook: http://www.facebook.com/LupinWorld/
X (f/k/a Twitter): https://x.com/LupinGlobal
About Evofem Biosciences
Evofem Biosciences is focused on commercializing innovative
products to address unmet needs in women's sexual and reproductive
health. The Company's first FDA-approved product, Phexxi® (lactic
acid, citric acid, and potassium bitartrate), is a hormone-free,
on-demand prescription contraceptive vaginal gel. It comes in a box
of 12 pre-filled applicators and is applied 0-60 minutes before
each act of sex. Learn more at phexxi.com and evofem.com.
In December 2023, Evofem entered into a Merger Agreement
with Aditxt, Inc. (Nasdaq: ADTX) under which Aditxt intends to
acquire Evofem. The parties reinstated and amended the Merger
Agreement, as amended, in May 2024
and are working to close the contemplated transaction in the second
half of 2024.
Follow us on:
LinkedIn: https://www.linkedin.com/company/evofem
Facebook: http://www.facebook.com/Evofem
X (f/k/a Twitter): https://x.com/Evofem
About SOLOSEC®
SOLOSEC® (secnidazole) 2 g oral granules is the first and
only single-dose oral prescription approved to treat both bacterial
vaginosis (BV), a common vaginal infection, in females 12 years of
age and trichomoniasis, a sexually transmitted infection, in people
12 years of age and older.1-4 Since trichomoniasis
is a sexually transmitted infection, sexual partners of infected
patients should be treated with the same dose and at the same time
to prevent reinfection. SOLOSEC® is designed to be easy to take and
one oral dose contains a complete course of
treatment.[1]
Additional information about SOLOSEC® can be found
at www.SOLOSEC.com.
References:
1 SOLOSEC Package Insert
2 Workowski KA, Bachmann LH, Chan PA, et al. CDC
Sexually Transmitted Diseases Treatment Guidelines, 2001. MMWR
Recomm Rep 2021; 70(RR-04):1-192.
3 Onderdonk AB, Delaney ML, Fichorova RN. The Human
Microbiome During Bacterial Vaginosis. Clin Microbiol Rev.
2016;29(2):223-238.
4 Koumans EH, Sternberg M, Bruce C, et al. The
prevalence of bacterial vaginosis in the
United States, 2001-2004; associations with symptoms, sexual
behaviors, and reproductive health. Sex Transm Dis.
2007;34(11):864-869.
Forward-Looking Statements
This press release includes "forward-looking statements," within
the meaning of the safe harbor for forward-looking statements
provided by Section 21E of the Securities Exchange Act of 1934, as
amended, and the Private Securities Litigation Reform Act of 1995
including, without limitation, statements regarding the anticipated
timing to close the contemplated Aditxt transaction. You are
cautioned not to place undue reliance on these forward-looking
statements, which are current only as of the date of this press
release. Each of these forward-looking statements involves risks
and uncertainties. Important factors that could cause actual
results to differ materially from those discussed or implied in the
forward-looking statements are disclosed in Evofem's SEC filings,
including its Annual Report on Form 10-K for the year
ended December 31, 2023 filed with the SEC on March
27, 2024, Quarterly Report on Form 10-Q for the three months
ended March 31, 2024 filed with the SEC on May 12,
2024, and any subsequent filings. All forward-looking statements
are expressly qualified in their entirety by such factors. Evofem
does not undertake any duty to update any forward-looking statement
except as required by law.
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SOURCE Lupin Limited