Mithra Signs LSA for Commercialization of Myring in Italy, the Third Biggest Worldwide Market

21 January 2020

  • Mithra grants a license to Farmitalia for commercialization of its vaginal contraceptive ring in Italy
  • Italy is the third largest worldwide contraceptive ring market with nearly 2 million vaginal rings sold per year
  • Mithra CDMO will launch the production of nearly 20,000 rings per month for the Italian market in the coming weeks

Liege, Belgium, 21 January 2020 – 7:30 CET – Mithra (Euronext Brussels: MITRA), a company dedicated to Women’s Health, today announces that it has entered into a license and supply agreement with Farmitalia for the commercialization of its hormonal contraceptive ring Myring™ in Italy.

Under the terms of the agreement, Farmitalia will distribute Myring™ in Italy, which is the third largest worldwide vaginal contraceptive ring market in terms of sales value and volume, after the United States and Germany. With 1.8 million vaginal rings sold per year, the Italian contraceptive rings market is worth EUR 21 million per year with an average growth of 3% per year1 . Mithra will receive an upfront payment and will be eligible to receive milestone payments and recurring revenues based on minimum annual quantities (MAQ). Moreover, Mithra will manufacture the product at its Contract Development and Manufacturing Organization (CDMO) facility in Belgium.

Farmitalia has entrusted the production of almost 20,000 rings per month to the Mithra CDMO, which has already started its production phase of commercial batches for Europe. To date, Mithra has licensed Myring™ to industry leaders in 16 international markets, including the United States, Germany, and Italy. Further contracts are expected to follow in the coming months, including in Europe, where Mithra expects to have 23 marketing authorizations granted.

This LSA is the second major agreement signed with Farmitalia, following the one entered early 2020 for the commercialization of Tibelia® in Italy. Founded in 1995, Farmitalia today represents an established reality in the national and international pharmaceutical world. Farmitalia manages many therapeutic areas, among which gynecology represents the crown jewel, and is leader in the manufacture of products containing palmitoylethanolamide (PEA).

François Fornieri, CEO Mithra Women’s Health, commented: “We are pleased to have formed this second partnership with Farmitalia for the commercialization of Myring™ in Italy, the third largest contraceptive vaginal rings market in the world and the second largest market in Europe. We continue our expansion in Europe, where our vaginal contraceptive ring is expected to be widely marketed in 2020.”

To read more Press Release articles, click here.