Mithra, a company dedicated to Women’s Health, announces that it has entered into a license and supply agreement (LSA) with Megalabs for the commercialization of its hormonal contraceptive ring Myring™ in Mexico. Based in Uruguay, Megalabs develops a wide range of market-leading pharmaceutical products in twenty Latin American countries.
Under the terms of this agreement, Megalabs will distribute Myring™ in Mexico, where the contraceptive rings market is worth EUR 2.8 million 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 Myring™ at its Contract Development and Manufacturing Organization facility in Belgium. This LSA is the second agreement signed with Megalabs, following the one entered in 2019 for the commercialization of Myring™ in Argentina, Paraguay and the Dominican Republic.
To date, Mithra has licensed Myring™ to industry leaders in 35 countries, including the three biggest worldwide markets (United States, Germany and Italy) and 5 regions in Latin and South America (Argentina, Chili, Mexico, the Dominican Republic and Paraguay).
François Fornieri, CEO Mithra Women’s Health, commented: “As announced at the beginning of the year, and despite the occurrence of this global health crisis, we are pursuing the international expansion strategy of our hormonal contraceptive ring, in parallel with its commercialization in Europe. We are pleased to have consolidated our partnership with Megalabs, an excellent partner which has strong connections in this part of the world, where the growth of the vaginal contraceptive market is significant.”