Lupin Sells U.S. Women's Health Business to Evofem

Lupin Limited has announced the divestment of its U.S. Commercial Women's Health Specialty Business to Evofem Biosciences. This division primarily includes Solosec (secnidazole) 2g oral granules, which is an FDA-approved antimicrobial used for treating bacterial vaginosis and trichomoniasis. According to the deal, Lupin stands to earn up to $84 million, contingent on meeting certain future performance milestones. This sale aligns with Lupin’s strategic pivot to concentrate its U.S. specialty business efforts on respiratory and neurological diseases.

Evofem Biosciences plans to leverage this acquisition to strengthen its commercial operations with the goal of relaunching Solosec. This move comes on the heels of Evofem being acquired by Aditxt in December 2023 for around $100 million. As part of the acquisition, Evofem's contraceptive gel, Phexxi, was also incorporated into Aditxt's portfolio. The transaction is anticipated to be finalized within this year.

Phexxi, notable for being the first FDA-approved hormone-free contraceptive gel, has faced scrutiny from the FDA due to claims of misleading efficacy. In response to this, Evofem implemented cost-cutting measures and strategically redirected its focus towards Phexxi.