Evofem Reaches Agreement with One of the Largest Pharmacy Benefit Managers in the United States for Access to Phexxi®

  • Agreement dramatically expands access to Phexxi® for millions of women seeking an on-demand, hormone-free, FDA-cleared option to prevent pregnancy
  • Long-Term Contract Adds to Growing List of Payer Agreements Opening Meaningful New Access to Phexxi
  • Evofem expects increased Phexxi prescriptions and significant savings from agreements

SAN DIEGO, June 28, 2022 /PRNewswire/ — Evofem Biosciences, Inc., (Nasdaq: EVFM) today announced that it has reached an agreement with one of the nation’s largest Pharmacy Benefit Managers (PBMs) to ensure that most women covered by this plan can fulfill their Phexxi® (lactic acid, citric acid, potassium bitartrate) prescriptions for the prevention of pregnancy, without restrictions such as prior authorization or step therapy.

“This new agreement removes existing barriers, allowing American women covered by this plan to fill their Phexxi prescriptions immediately,” said Saundra Pelletier, CEO of Evofem. “We have already seen a significant increase in the profitability of each Phexxi prescription this year, and we look forward to continued growth in prescriptions while providing millions more women with barrier-free access to Phexxi.

With the removal of the prior authorization process for this PBM, effective July 1, 2022Evofem expects to save approximately $400,000 until the end of 2022 and nearly $1 million on an annualized basis.

The agreement comes as Evofem continues to build on its previous successes and expand access through other health insurers and PBMs to increase a woman’s ability to obtain Phexxi. This year alone, Evofem has opened avenues and continues to finalize access opportunities with the following payers to cover Phexxi:

  • One of the biggest payers of Californiawithout co-payment for patients
  • One of the biggest payers of Utahwithout prior authorization
  • One of the biggest payers of Hawaiiwithout copayment for Phexxi patients
  • A Regional Payer in the Pacific Northwest
  • Many state Medicaid systems covering over 12 million lives without prior approval

In January of this year, the Health Resources and Services Administration and the US Department of Labor updated their guidelines regarding access to contraception in the United States. The updates clarify that most insurers and PBMs offer coverage, at no cost to women, for FDA-approved contraceptive products, like Phexxi, prescribed by health care providers.

Recently, members of the US Senate sent letters to some health insurers and PBMs requesting information regarding their lack of coverage for FDA-approved contraception, as outlined in federal guidelines. Evofem continues to support these efforts to protect women’s access to Phexxi.

“The Evofem sales force continues to update physicians and their practices on these new agreements, paving the way for easier access to Phexxi,” said Catherine Atkinson, Commercial Director of Evofem. “We are proud to work with payers who understand the need to provide access to non-hormonal contraception for women, and we expect the number of women filling their Phexxi prescriptions to continue to increase significantly for the remainder of this year and beyond, as it has since the beginning of 2022.”

About Phexxi

Phexxi is an on-demand method of birth control used to prevent pregnancy. Phexxi is not effective when used after sex. For more information about Phexxi, talk to your healthcare provider and see complete product information at www.phexxi.com.

Important Safety Information

  • Rare cases (0.36%) of bladder and kidney infections have been reported. If you have a history of urinary tract problems that keep coming back, you should not use Phexxi.
  • Contact your healthcare provider if you experience genitourinary side effects such as vaginal burning, itching, discharge, genital discomfort (including in male partners), yeast infection, urinary tract infection or bacterial vaginosis.
  • Phexxi does not protect against sexually transmitted infections, including HIV.

For more information about Phexxi, talk to your healthcare provider and see complete product information at www.phexxi.com.

Please report side effects by contacting Evofem Biosciences toll-free at 1-833-EVFMBIO or contact the FDA at 1-800-FDA-1088 or www.fda.gov/medwatch.

Intended for US residents only.

About Evofem Biosciences

Evofem Biosciences, Inc., (Nasdaq: EVFM) develops and markets innovative products to address the unmet sexual and reproductive health needs of women, including hormone-free, female-controlled contraception and protection against chlamydia and gonorrhea. The company’s first FDA-approved product, Phexxi® (lactic acid, citric acid and potassium bitartrate), is a hormone-free prescription vaginal contraceptive gel. It comes in a box of 12 pre-filled applicators and is applied 0-60 minutes before each sexual intercourse. The first data is expected in the second half of 2022 from phase 3 of registration EVOGUARD trial evaluating Phexxi for the prevention of chlamydia and gonorrhea in women, two potential new indications. Learn more at phexxi.com and evofem.com.

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

Forward-looking statements

This press release contains “forward-looking statements”, within the meaning of the safe harbor for forward-looking statements provided for 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 regarding the anticipated impact of the new Pharmacy Benefits Manager Agreement on Phexxi prescriptions and insurance coverage. A variety of factors could cause actual results to differ materially from those discussed or implied by the forward-looking statements, including market and other conditions, and you are cautioned not to place undue reliance on such 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 adversely affect the value of the assets and businesses of Evofem Biosciences, are disclosed in the documents filed by the Company with the SEC, including its annual report on Form 10-K for the year ended December 31, 2021filed with the SEC on March 10, 2022. All forward-looking statements are expressly qualified in their entirety by these factors. The Company undertakes no obligation to update forward-looking statements, except as required by law.

Evofem Biosciences contacts:
Media
jack hirschfield
Evofem Biosciences, Inc.
[email protected]
(512) 674-5163

Investor Relations
Amy Raskopf
Evofem Biosciences, Inc.
[email protected]
(917) 673-5775

SOURCEEvofem Biosciences, Inc.

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