Large Commercial Payer Adds Phexxi® to Form for Nationwide Standard Plans


— One of the Largest Commercial Payers in the U.S. Expands Access to Phexxi® for women seeking FDA-approved, hormone-free birth control —

SAN DIEGO, September 16, 2022 /PRNewswire/ — Evofem Biosciences, Inc. (OTCPK: EVFM) today announced a winning new insurance that gives millions more women access to Phexxi® (lactic acid, citric acid, potassium bitartrate) for the prevention of pregnancy.

Evofem Biosciences (Nasdaq: EVFM) (PRNewsfoto/Evofem Biosciences, Inc.)

“Evofem’s diligent efforts to expand access to Phexxi nationwide continue to bear fruit,” said Saundra Pelletier, CEO of Evofem. “We are delighted that another highly respected national payer is now covering Phexxi, allowing women to fill their prescriptions immediately. Phexxi’s claims approval rate reached a new high for 2022 at over 72% for the month from July, and we anticipate that will continue to rise with that and other recent payer gains.”

This win, adding nearly four million lives covered, continues Evofem’s strong record of success with health insurers and Pharmacy Benefit Managers (PBMs) in increasing a woman’s ability to obtain Phexxi. In 2022 alone, Evofem opened lanes with the following payers to cover Phexxi:

  • One of the largest PBMs in the United States

  • One of California’s biggest payers, with no co-payments for patients

  • One of Utah’s biggest payouts without prior permission

  • One of Hawaii’s largest payers, with no copayments for Phexxi patients

In July this year, the Departments of Labour, Health and Human Services and the Treasury issued guidelines regarding birth control coverage specifying that group health plans and insurers must cover contraceptives free of charge for people. Evofem consistently engages with these payers to ensure they adhere to these guidelines in Phexxi coverage.

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.

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. 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. Company plans to release key data in October 2022 from its Phase 3 registration EVOGUARD clinical trial evaluating Phexxi for two potential new indications – prevention of chlamydia and prevention of gonorrhea in women. 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 contemplated by Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995, including including, without limitation, statements regarding the anticipated impact of the New Payer win on Phexxi prescriptions and claims approval rate. 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, 2022its quarterly report on Form 10-Q for the quarter ended June 30, 2022 filed with the SEC on August 12, 2022. and subsequent filings. 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.

contacts

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

Media:
[email protected]

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SOURCEEvofem Biosciences, Inc.

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