Evofem Biosciences Inc. (OTC:EVFM): Here Are Latest News & Updates

March 01, 2023 at 21:45 PM EST

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Women’s sexual and reproductive health is one of the more important things that is now being addressed by the healthcare industry in a much more focused manner. There is significant demand for products that fulfill the unmet needs of women’s healthcare and a company that is now making significant strides in that direction is Evofem Biosciences Inc. (OTCMKTS:EVFM).

The company is involved in the development and commercialization of innovative products which are meant to fulfill the unmet sexual and reproductive health needs of women. The first product from the company that had been approved by the United States Food and Drug Administration is Phexxi, an on-demand, hormone-free prescription vaginal gel contraceptive. The product is sold in boxes of 12 pre-filled applicators and can be applied 0-60 minutes prior to the sexual act.

As it happens, Evofem was in the news on February 28 when it announced that the telehealth major SimpleHealth started offering its product Phexxi. The fact that the company’s product would now be available to a larger number of customers could be seen as a major positive. Saundra Pelletier, who is the Chief Executive Officer of Evofem, spoke about the latest development as well.

She noted that the latest partnership was part of the company’s long-term strategy to make the product far more accessible to women who may need it. However, that is not all. The offering from SimpleHealth is also going to offer important resources, contraceptive counseling, and education about women’s health. SimpleHealth also offers online prescriptions, free home delivery, and automatic refills as a result it is going to open up a dynamic new market for Phexxi. At this point SimpleHealth has as many as 120 branded and generic products including contraceptives. However, Phexxi would be the first hormone-free contraceptive that it would offer.

While the partnership with SimpleHealth was a major deal for Evofem, the company made an announcement about another major milestone for Phexxi the day before on February 27. The company announced two more patents related to Phexxi and its labeled indication had been listed in the Approved Drug Products with Therapeutic Equivalence Evaluations that is published by the FDA.

In popular parlance, the publication is called the Orange Book. It was another significant development and one that could only be a positive for the product in the long run. Pelletier noted that it was an important step for the company since it was going to further strengthen its patent portfolio. However, she went on to add that Evofem was focused on expanding its intellectual property portfolio in the United States and abroad.

The original patent for the product had been issued by the United States Patent and Trademark Office back in May last year and it would expire in March 2033. The two newly listed patents cover contraception with the use of L-Lactic Acid Phexxi formulation and compositions with L-Lactic Acid. Both of which are specifically related to the Phexxi formulation from Evofem.

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