SAN DIEGO, Dec. 22, 2020 /PRNewswire/ -- Evofem
Biosciences, Inc., (NASDAQ: EVFM) today announced it has entered
into an agreement with the U.S. Centers for Medicare and Medicaid
Services (CMS) to participate in the Medicaid National Drug Rebate
Program (NDRP), providing access to Phexxi® (lactic acid, citric
acid and potassium bitartrate) for the Medicaid population
effective January 1, 2021.
"Contraceptive choice should not be a luxury available to only
some women. Every woman deserves to choose the method that is right
for her individual health needs and unique circumstances," said
Saundra Pelletier, Evofem's Chief
Executive Officer. "We are proud to participate in the NDRP,
ensuring that millions of women across the nation who rely on
Medicaid for healthcare coverage have access to Phexxi for hormone
free, on-demand contraception."
Medicaid provides health coverage to 69.8 million people in
the United States, including
approximately 25 million adult women2. Medicaid is
administered by states, according to federal requirements, where
each state can determine specific coverage for Phexxi. Per the
terms of the NDRP, states must generally cover a manufacturer's
drugs as of the mandatory effective date.
About the CMS Medicaid Drug Rebate Program
The
Medicaid Drug Rebate Program (MDRP) is a program that includes the
Centers for Medicare & Medicaid Services (CMS), state Medicaid
agencies, and participating drug manufacturers that helps to offset
the federal and state costs of most outpatient prescription drugs
dispensed to Medicaid patients. Approximately 600 drug
manufacturers currently participate in this program. All fifty
states and the District of
Columbia cover prescription drugs under the MDRP, which is
authorized by Section 1927 of the Social Security Act.
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 Medicaid
National Drug Rebate Program. 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.
References
1 Source: CMS. August 2020 Enrollment Report.
2 Source: Henry J. Kaiser Family Foundation.
Medicaid's Role for Women. March 28, 2019.
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.