Lupin Divests U.S. Commercial Women's Health Specialty Business to Evofem, including SOLOSEC
Rhea-AI Summary
Lupin has divested its U.S. Commercial Women's Health Specialty Business to Evofem Biosciences, Inc. The deal includes the transfer of SOLOSEC®, an FDA-approved single-dose antimicrobial agent for treating bacterial vaginosis and trichomoniasis. Lupin could receive up to USD 84 million based on future contingent milestones.
This strategic move aligns with Lupin's plan to focus on therapeutic areas with synergistic potential, such as respiratory and neurological diseases. For Evofem, the acquisition enhances its women's health portfolio and leverages its existing commercial infrastructure.
Positive
- Potential to receive up to USD 84 million based on future milestones
- Strategic alignment with Lupin's focus on respiratory and neurological diseases
- Divestment allows Lupin to streamline its U.S. specialty business
Negative
- Loss of revenue stream from SOLOSEC® and Women's Health Specialty Business
News Market Reaction – ADTX
In the trading session that priced this news, ADTX declined 6.21%, reflecting a notable negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
Under the terms of the deal, Lupin can receive a potential total consideration of up to
Dr. Fabrice Egros, President - Global Corporate Development, Lupin, said, "We are very pleased to divest our
"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
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
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.
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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.
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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
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