Evofem jumps on U.S. deal for contraceptive gel

Evofem Biosciences

28/06/2022 12:23

** Shares of women contraceptive maker Evofem Biosciences
Inc  EVFM.O  jump ~35.5% to $1.45 premarket
    ** Co reaches agreement with a large pharmacy benefit
manager for access to its hormone-free contraceptive vaginal
gel, Phexxi, in U.S.  urn:newsml:reuters.com:*:nPn9jbxPHa
    ** Based on the deal, EVFM anticipates saving about $400,000
through the end of 2022 and close to $1 mln on an annualized
basis
    ** PBMs negotiate drug prices for employers and health plans
    ** Stock down ~81% YTD as of last close

 (Reporting by Mrinalika Roy in Bengaluru)
 ((mrinalika.roy@thomsonreuters.com; within U.S. +1 646 223
8780, outside U.S. +91 806749 8325;))