Evofem Signs Phexxi® License Agreement for Middle East with Pharma 1

Core Insights - Evofem Biosciences has partnered with Pharma 1 Drug Store to commercialize Phexxi, a hormone-free contraceptive, in the Middle East, with regulatory submission expected in Q3 2024 [1][2][3] Company Overview - Evofem Biosciences focuses on innovative products for women's sexual and reproductive health, with Phexxi being its first FDA-approved product [5] - Pharma 1 Drug Store is an Emirati company dedicated to providing healthcare solutions based on scientific studies and surveys, with a focus on the GCC market [8] Market Potential - The UAE contraceptive drug market is projected to reach $185.1 million by 2030, indicating significant growth potential for hormone-free contraceptive options [2] Product Details - Phexxi is the first locally-acting contraceptive gel approved by the FDA, applied before intercourse to maintain a vaginal pH that is inhospitable to sperm [4] - The product is designed for on-demand use, allowing women to control their contraceptive needs without hormones [3][4] Strategic Importance - The licensing agreement is seen as a milestone for Evofem, enhancing its revenue diversification strategy and expanding access to contraceptive options in the GCC region [3][6]