Evofem Biosciences will participate in the Medicaid National Drug Rebate program for Phexxi® from January 1, 2021
SAN DIEGO, December 22, 2020 / PRNewswire / – Evofem Biosciences, Inc. (NASDAQ: EVFM) today announced that it has entered into an agreement with the United States Centers for Medicare and Medicaid Services (CMS) to participate in the Medicaid National Drug Rebate (NDRP) program , providing access to Phexxi® (lactic acid, citric acid and potassium bitartrate) for the Medicaid Effective Population January 1, 2021.
“The choice of contraception should not be a luxury reserved for some women. Every woman deserves to choose the method that suits her individual health needs and unique circumstances, ”said Saundra Pelletier, CEO of Evofem. “We are proud to participate in the NDRP, ensuring that millions of women across the country who rely on Medicaid for health care coverage have access to Phexxi for hormone-free on-demand contraception. “
Medicaid provides health coverage to 69.8 million people in United States, including about 25 million adult women2. Medicaid is administered by the states, in accordance with federal requirements, where each state can determine specific coverage for Phexxi. Under the terms of the NDRP, states are generally required to cover a manufacturer’s drugs from 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 offset federal and state costs for most drugs. outpatient prescriptions issued to Medicaid patients. . About 600 drug manufacturers are currently participating in this program. The fifty states and the District of Colombia 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 engaged in the development and commercialization of innovative products to address the unmet sexual and reproductive health needs of women, including hormone-free contraception. and controlled by the woman and protection against certain communicable 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 disorders 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.
This press release includes “forward-looking statements” within the meaning of the safe harbor for forward-looking statements under Section 21E of the Securities Exchange Act of 1934, as amended; and the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements relating 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 such forward-looking statements, which are as current as of the date of this press release. Press. Each of these forward-looking statements involves risks and uncertainties. Important factors which could cause actual results to differ materially from those discussed or implied in the forward-looking statements, or which could adversely affect the value of Evofem Biosciences assets and businesses, are disclosed in documents filed by Evofem with of the SEC, 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 obligation to update any forward-looking statement, except as required by law.
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SOURCE Evofem Biosciences, Inc.