Lupin Divests Women's Health Specialty Business to Evofem Biosciences for $84M

Drug maker Lupin has divested its women's health specialty business in the US to Evofem Biosciences for up to USD 84 million. The business focuses on Solosec, a treatment for bacterial vaginosis and trichomoniasis. The strategic move aims to align Lupin's US specialty business with its broader goals.

Lupin announced on Monday that it has divested its women's health specialty business in the US to Evofem Biosciences Inc, for a potential total consideration of up to USD 84 million.

The US Commercial Women's Health Specialty Business, which Lupin is relinquishing, focuses on the commercialisation of Solosec (secnidazole) 2g oral granules. The FDA-approved, single-dose antimicrobial agent provides a complete course of treatment for bacterial vaginosis (BV) and trichomoniasis, two prevalent sexual health infections.

According to Lupin's statement, the deal includes a potential total consideration of up to USD 84 million based on future contingent milestones. Fabrice Egros, Lupin President of Global Corporate Development, described the divestment as a move to better align the company's US specialty business with strategic plans focusing on respiratory and neurological diseases.

Evofem CEO Saundra Pelletier emphasized that the acquisition aligns with Evofem's mission to improve access to innovative and differentiated options for women's health. Pelletier added, "We can now fully leverage our commercial infrastructure, maximize our strong physician relationships, and re-launch an asset with tremendous growth potential."

In response to the announcement, Lupin's shares closed 1.95 percent higher at Rs 1,832.10 apiece on the BSE.

(With inputs from agencies.)