Evofem Biosciences Signs License Agreement With Pharma 1 Drug Store For SOLOSEC In Middle East

(RTTNews) - Evofem Biosciences, Inc. (EVFM) Wednesday said that it has signed a license and supply agreement with Emirati health care company, Pharma 1 Drug Store LLC for the Middle East rights to SOLOSEC, Evofem's FDA-approved treatment for two common sexual health conditions.

Evofem Biosciences is commercializing two FDA-approved products- birth control drug PHEXXI and SOLOSEC.

As per the deal, Pharma 1 will have the exclusive commercialization rights for PHEXXI in the Middle East, including the UAE, Kuwait, Saudi Arabia, Qatar and certain other countries in the region. Pharma 1 will be responsible for obtaining all necessary regulatory approvals to market and sell SOLOSEC, and will handle all aspects of distribution, sales, marketing, pharmacovigilance and all other commercial activities in these countries.

Evofem's consideration for SOLSOEC's exclusive commercial rights in the territory includes an upfront payment, payments for achieving certain regulatory as well as sales-based milestones. Once approved in the territory, Evofem will supply SOLOSEC to Pharma 1 for sale in these countries at cost-plus.

"SOLOSEC offers a convenient 'one-and-done' oral treatment for two common sexual health conditions, bacterial vaginosis (BV) and trichomoniasis, which affect millions of people in the member states of the Gulf Cooperation Council (GCC)," said Abdulwahab Atfah, CEO of Pharma 1 Drug Store. "We are pleased to secure exclusive commercial rights to SOLOSEC in the Territory and eager to file for regulatory approval of SOLOSEC in the United Arab Emirates (UAE) this summer."