Lupin Limited announced it has divested its U.S. Commercial Women's Health Specialty Business to Evofem Biosciences.
The business primarily focuses on Solosec (secnidazole) 2g oral granules, an FDA-approved single-dose antimicrobial for treating bacterial vaginosis and trichomoniasis.
Under the terms of the deal, Lupin could earn up to $84 million based on future performance milestones. The move is part of Lupin's strategy to focus its U.S. specialty business on respiratory and neurological diseases, the company said.
Evofem plans to enhance its commercial infrastructure with an aim to relaunch Solosec. In December of 2023, Aditxt acquired Evofem for approximately $100 million, incorporating Evofem's contraceptive gel, Phexxi, into its portfolio. The transaction is expected to close this year.
Evofem's Phexxi, the first FDA-approved hormone-free contraceptive gel, faced FDA criticism for misleading efficacy claims. Evofem responded with cost-cutting measures and a strategic focus on Phexxi.