Evofem Signs Sourcing Partnership With Windtree, Expects To Reduce Production Cost Of Phexxi By 60%

(RTTNews) - Evofem Biosciences, Inc. (EVFM) announced a License and Supply Agreement with Windtree Therapeutics, Inc. (WINT), and as a sourcing partner for its hormone-free contraceptive vaginal gel Phexxi.

Currently, shares of Evofem is at 0.0090, up 5.88 percent.

As per the agreement, Windtree will help leverage its manufacturing contacts to reduce the cost of manufacturing of Phexxi. Evofem said it expects a decrease of 55 to 60 percent from current levels and there will be no cost to Evofem for the tech transfer to the new manufacturer engaged by Windtree.

According to Saundra Pelletier, CEO of Evofem, the meaningful decrease in the per-box cost should allow the company to take hormone-free contraceptive vaginal gel into new, price-sensitive global markets.