Evofem Biosciences
Evofem Biosciences, launched in 2020, specializes in women's health with products like Phexxi, a hormone-free contraceptive gel, and is developing treatments for Bacterial Vaginosis and HIV prevention.
Phexxi Contraceptive Gel
Evofem Biosciences launched Phexxi, an FDA-approved hormone-free contraceptive vaginal gel, in 2020. Phexxi is designed for on-demand usage, applicable 0-60 minutes prior to intercourse. It works by maintaining vaginal pH within the normal range, thereby reducing sperm mobility. Net sales of Phexxi have seen growth for four consecutive quarters in 2022, surpassing 2021 levels within the first half of the year. Phexxi has also been added to formularies by payers and pharmacy benefit managers, which facilitates immediate prescription fills.
FDA Coverage and Guidelines
As of January 1, 2023, updated guidelines from the U.S. Department of Labor and Health Resources and Services Administration require most group health plans and insurers to cover FDA-approved contraceptives, including Phexxi, at no cost under the Affordable Care Act. This policy change aims to make contraceptive options like Phexxi more accessible to a broader population.
International Commercialization Initiatives
Evofem Biosciences is engaged in partnership discussions to commercialize Phexxi in international markets. This strategic move aims to expand the reach of their contraceptive gel beyond the United States, potentially increasing global sales and adoption.
Advanced Development Projects
Evofem Biosciences is also developing EVO200, a vaginal pH modulator intended for the prevention of recurrent Bacterial Vaginosis (BV). In another collaborative effort, the company is working with Orion Biotechnology to develop a Multipurpose Prevention Technology (MPT) product candidate aimed at preventing HIV.