Thursday April 2nd 2020



Mithra, a company dedicated to Women’s Health today announces the commercial launch of Myring™ in Germany, which is the largest European market and the second worldwide in terms of sales volume. With 3 million vaginal rings sold per year, the German contraceptive rings market is worth EUR 27 million per year .

Mithra’s vaginal ring contraceptive is marketed by Hormosan in Germany under the trademark name MYCIRQ®. Hormosan is the German subsidiary of the innovation-driven pharmaceutical company Lupin Group, developing and delivering a wide range of branded and generic formulations, biosimilar products and APIs globally. According to the agreement signed in May 2019 with Hormosan2 , in addition to the upfront payment, Mithra is eligible for milestone payments and recurring revenues based on minimum annual quantities (MAQ). Mithra is also in charge of the manufacturing of the product for the German market in its Mithra CDMO, still operational despite the Covid-19 crisis, in compliance with all the measures required by the Belgian authorities. Globally, this agreement could generate revenues of at least EUR 2.5 million for Mithra.

François Fornieri, CEO Mithra Women’s Health, comments:

“During this unprecedented health crisis, in strict compliance with our government's measures to ensure the safety of our employees, we have made every effort to maintain the manufacturing and delivery of our drug to German & other geographies’ pharmacies. Myring™ is a new option for women as the first generic contraceptive ring with the same composition as the originator to be launched in this key market. We would like to thank our partner Hormosan for the constructive collaboration in these particularly difficult times for all of us.”

Anjan Selz, Managing Director Hormosan, states:

“We are proud to launch MYCIRQ® in Germany. The contraceptive ring is a perfect fit to our current successful OC portfolio and will be the most important launch in our forthcoming new fiscal year in the area of Women’s Health. We thank Mithra for their efforts to deliver the product despite the current difficult circumstances and make this launch happen in time. Our pre marketing activities already show a high acceptance of this product with all market players. MYCIRQ® is the only generic contraceptive ring with the same composition as the originator but without cool chain restrictions in storage conditions, this is a significant advantage for wholesalers and pharmacies. The storage life of 24 months at normal room temperature enables us to offer a 6 months pack, which provides good value to patients for this mostly privately paid contraceptive.“

For more information, please contact:

Christophe Maréchal (Investors) : +32 495 55 14 78 –

Maud Vanderthommen (Press) : +32 473 58 61 04 –

About Mithra

Mithra (Euronext: MITRA) is a Belgian biotech company dedicated to transforming Women’s Health by offering new choices through innovation, with a particular focus on contraception and menopause. Mithra’s goal is to develop products offering better efficacy, safety and convenience, meeting women’s needs throughout their life span. Its three lead development candidates are built on Mithra’s unique native estrogen platform, Estetrol (E4): Estelle®, a new era in oral contraception, PeriNesta®, the first complete oral treatment for perimenopause and Donesta®, the next-generation hormone therapy. Mithra also develops and manufactures complex therapeutics in the areas of contraception, menopause and hormone-dependent cancers. It offers partners a complete spectrum of research, development and specialist manufacturing at its technological platform Mithra CDMO. Active in more than 85 countries around the world, Mithra has an approximate headcount of 250 staff members and is headquartered in Liège, Belgium.

About Hormosan

Hormosan Pharma GmbH provides a wide range of innovative medicines to generics in the German market and thereby supports the therapeutic route for various acute and chronic conditions. Special product innovations ensure the care of previously unmet medical needs of patients. Specific formulations or dosage forms of specialty-like drugs increase patient benefit and compliance. In addition, high-quality therapy options at attractive prices are offered through a large generic product portfolio. HORMOSAN was founded in Germany over 50 years ago and has developed into a successful medium-sized pharmaceutical company over the years. In 2008 the company was taken over by the international pharmaceutical LUPIN Group. LUPIN is an innovation led transnational pharmaceutical company developing and delivering a wide range of branded and generic formulations, biosimilar products and APIs globally. The Company is the 3rd largest pharmaceutical player in the US by prescriptions (IQVIA MAT Mar 2019); 3rd largest Indian pharmaceutical company by global revenues (31st Dec 2018, Bloomberg LTM); 5th largest company in the Indian Pharmaceutical Market and 6th largest generic pharmaceutical player in Japan (IQVIA MAT Mar 2019). or

Important information

The contents of this announcement include statements that are, or may be deemed to be, "forward-looking statements". These forward-looking statements can be identified by the use of forward-looking terminology, including the words "believes", "estimates," "anticipates", "expects", "intends", "may", "will", "plans", "continue", "ongoing", "potential", "predict", "project", "target", "seek" or "should", and include statements the Company makes concerning the intended results of its strategy. By their nature, forward-looking statements involve risks and uncertainties and readers are cautioned that any such forward-looking statements are not guarantees of future performance. The Company's actual results may differ materially from those predicted by the forward-looking statements. The Company undertakes no obligation to publicly update or revise forward-looking statements, except as may be required by law.