Specialty pharmaceutical company Mayne Pharma (ASX:MYX) has launched vaginal hormonal contraceptive ring HALOETTEⓇ into the US market alongside Belgian biotech company Mithra Pharmaceuticals (Euronext Brussels:MITRA).
Under the terms of the long-term licence and supply agreement, Mayne Pharma will pay Mithra a milestone payment of EUR 1.6million, which is equivalent to just under AUD$2.5 million.
It is reported that HALOETTEⓇ contraceptive is a generic version of NUVARINGⓇ, a combined hormonal contraceptive flexible ring indicated for the prevention of pregnancy.
American multinational company IQVIA (NYSE:IQV) states that NUVARINGⓇ US brand and generic sales were about US$564 million for the 12 months ending in November 2022.
“This is another example of our commitment to providing women with more contraceptive choice”
Speaking on the launch, Mayne Pharma’s Chief Executive Officer Shawn O’Brien said: “We are pleased to announce the launch of HALOETTEⓇ in the US. This is another example of our commitment to providing women with more contraceptive choice. Mayne Pharma continues to expand its women’s health portfolio with the recent launch of NEXTSTELLISⓇ in the US and Australia, and our new licence agreement for ANNOVERAⓇ, IMVEXXYⓇ, and BIJUVAⓇ from TherapeuticsMD.”
Also commenting on the launch of HALOETTEⓇ, Mithra Pharmaceuticals’ CEO Leon Van Rompay said: “We are pleased to start the year with the commercial launch of our affordable contraceptive alternative in the US, the world’s largest pharmaceutical market. This key milestone has been reached thanks to the support of our Mithra CDMO, highlighting its unique expertise in developing and manufacturing complex pharmaceutical devices.”
Mayne Pharma is an ASX-listed company that is focused on commercialising novel and generic pharmaceuticals, offering patients better, safer and more accessible medicines, whilst also providing contract development and manufacturing services to clients worldwide. The company has a 40-year track record of innovation and success in developing new oral drug delivery systems, which have been successfully commercialised in a variety of products that continue to be marketed around the world.