Indian pharmaceutical company Lupin has sold its US Commercial Women’s Health Specialty Business to Evofem Biosciences, a US-based company dedicated to Women’s Health.
Under the terms of the agreement, Lupin will receive a total consideration of up to $84m, contingent on future contingent milestones.
Lupin’s US Commercial Women’s Health Specialty Business is primarily focused on commercialising Solosec (secnidazole) oral granules.
Solosec is an antibiotic medication approved by the US Food and Drug Administration (FDA) for the treatment of bacterial vaginosis (BV) in females aged 12 years and above.
It is the first and only single-dose oral prescription approved to treat both BV and trichomoniasis, two common sexual health infections in women.
Trichomoniasis is a sexually transmitted infection, and sexual partners of infected patients should be treated with the same dose and at the same time.
Lupin global corporate development president Fabrice Egros said: “We are very pleased to divest our U.S. Commercial Women’s Health Specialty business, including SOLOSEC, to Evofem.
“This divestment is another step in aligning our US speciality business with our strategic plan to build our speciality business in therapeutic areas where we have building blocks of synergy. These include respiratory and neurological diseases.”
Lupin is engaged in developing and commercialising a wide broad of branded and generic formulations, biotechnology products, and APIs in more than 100 markets worldwide.
The Indian pharmaceutical company runs 15 manufacturing sites, and seven research centres, and employs over 20,000 professionals in the biotechnology and pharmaceuticals sector.
Based in California, US, Evofem Biosciences is focused on developing and commercialising women’s sexual and reproductive health products.
In December last year, Evofem signed an agreement to be acquired by Richmond, Virginia-based biotech company Aditxt.
Earlier this year, the two parties amended their merger agreement, with plans to close the potential business combination in the second half.
Evofem CEO Saundra Pelletier said: “The acquisition of this commercial business aligns with and advances our mission to improve access to innovative and differentiated options that impact women’s daily lives.
“SOLOSEC is a commercially attractive, single-dose oral antibiotic that addresses two pervasive sexual health infections.
“We can now fully leverage our commercial infrastructure, maximize our strong physician relationships, and re-launch an asset with tremendous growth potential.”
