The U.S. Department of Veterans Affairs Awards Contract to Evofem Biosciences for Phexxi®

Rhea-AI Summary

Evofem Biosciences (NASDAQ: EVFM) has secured a five-year contract from the U.S. Department of Veterans Affairs to supply Phexxi®, a hormone-free contraceptive gel, starting December 15, 2020. This contract expands access to Phexxi for approximately 12 million lives, including patients in VA, Tricare, and other government health programs. The company has achieved coverage for 55% of commercial lives in the U.S., with nearly 8 million lives available at zero copay. This milestone marks a significant step in Evofem's mission to broaden access to women's reproductive health solutions.

Positive

• Award of a five-year contract with the U.S. Department of Veterans Affairs for Phexxi.
• Expanded access to Phexxi for approximately 12 million government program beneficiaries.
• Achievement of coverage for 55% of commercial lives in the U.S., including nearly 8 million at zero copay.

Negative

• None.

SAN DIEGO, Dec. 3, 2020 /PRNewswire/ -- Evofem Biosciences, Inc., (NASDAQ: EVFM) today announced that the U.S. Department of Veterans Affairs (VA) has awarded the Company a contract for the purchase of Phexxi® (lactic acid, citric acid and potassium bitartrate) for a five-year period beginning December 15, 2020.

Saundra Pelletier, CEO of Evofem Biosciences, said, "This award is an important milestone in our ongoing effort to create the broadest access to Phexxi for all patients.  We have achieved coverage for 55% of commercial lives in the U.S., including nearly 8 million lives at zero copay,  and are very pleased to expand into government programs. We look forward to providing Phexxi to the women who are a part of this program, which includes VA, Tricare, Department of Defense, Coast Guard and Indian Health Services and under which approximately 12 million lives will have access to Phexxi." 

This award was recently listed on the U.S. government's SAM website. 

About the Department of Veterans Affairs Federal Supply Schedule (VA FSS)
Under delegated authority by GSA, the VA manages multiple award contracts for medical equipment, supply, pharmaceutical, and service Schedule programs. With over $14 billion in sales, the VA FSS Service supports the healthcare requirements of the VA and other federal government agencies by providing Federal customers with access to over 1 million state-of-the-art commercial products and services.

About Evofem Biosciences
Evofem Biosciences, Inc., (NASDAQ: EVFM) is a commercial-stage biopharmaceutical company committed to developing and commercializing innovative products to address unmet needs in women's sexual and reproductive health, including hormone-free, woman-controlled contraception and protection from certain sexually transmitted infections (STIs). The Company's first commercial product, Phexxi® (lactic acid, citric acid and potassium bitartrate), is the first and only hormone-free, prescription vaginal gel approved in the United States for the prevention of pregnancy. The Company is evaluating EVO100 in a Phase 3 clinical trial, 'EVOGUARD,' for the prevention of urogenital Chlamydia trachomatis and Neisseria gonorrhoeae infection in women. For more information, please visit www.evofem.com.

Phexxi® is a registered trademark of Evofem Biosciences, Inc.

Forward-Looking Statements
This press release includes "forward-looking statements," within the meaning of the safe harbor for forward-looking statements provided by Section 21E of the Securities Exchange Act of 1934, as amended; and the Private Securities Litigation Reform Act of 1995, including, without limitation, statements related to the U.S. Department of Veterans Affairs contract award. Various factors could cause actual results to differ materially from those discussed or implied in the forward-looking statements, and you are cautioned not to place undue reliance on these forward-looking statements, which are current only as of the date of this press release. Each of these forward-looking statements involves risks and uncertainties. Important factors that could cause actual results to differ materially from those discussed or implied in the forward-looking statements, or that could impair the value of Evofem Biosciences' assets and business, are disclosed in Evofem's SEC filings, including its Annual Report on Form 10-K for the year ended December 31, 2019 filed with the SEC on March 12, 2020, its Current Report on Form 8-K filed with the SEC on June 2, 2020, and its Quarterly Report on Form 10-Q for the quarter ended September 30, 2020 filed with the SEC on November 9, 2020. All forward-looking statements are expressly qualified in their entirety by such factors. Evofem does not undertake any duty to update any forward-looking statement except as required by law.

Investor Relations Contact
Amy Raskopf
Evofem Biosciences, Inc.
araskopf@evofem.com 
Mobile: (917) 673-5775

Media Contact
Ellen Thomas
Evofem Biosciences, Inc.
ethomas@evofem.com
Mobile: (718) 490-3248

 

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SOURCE Evofem Biosciences, Inc.

FAQ

What is the contract awarded to Evofem Biosciences by the U.S. Department of Veterans Affairs?

Evofem Biosciences received a five-year contract to supply Phexxi, starting December 15, 2020.

How many lives will have access to Phexxi under the new contract?

Approximately 12 million lives will have access to Phexxi through the contract.

What percentage of commercial lives in the U.S. does Evofem's Phexxi cover?

Evofem has achieved coverage for 55% of commercial lives in the U.S.

When does the contract for Phexxi start?

The contract for Phexxi begins on December 15, 2020.

What is Phexxi and what does it offer?

Phexxi is a hormone-free prescription vaginal gel approved for pregnancy prevention.