The Liège company specialising in women's health has announced that it has concluded a binding agreement with Libbs, the Brazilian leader for women's health. This agreement falls within the scope of the sale under exclusive licence of Estelle, Mithra's new combined oral contraceptive in Brazil.
Mithra should receive an initial payment of €20 million and guaranteed recurrent revenue every year. According to the market's hypotheses and Mithra's forecasts, this agreement could earn the company hundreds of millions of euros in profits throughout the duration of the contract.
Brazil is a strategic choice for the Liège company because the country represents 45% of the total contraception market in Latin America and offers very interesting growth prospects. Libbs is the Brazilian leader in this field and offers innovative products such as Mithra without the aim of increasing market growth in the field of women's health.
"As the undisputed leader in the women's health sector in the country, we are convinced that Libbs is the ideal partner for the launch of Estelle® in Brazil, especially since we share the same vision, which involves improving women's health by offering innovative solutions. The trust shown by Libbs in Estelle®'s ability to offer a combined oral contraception that is both comfortable and safer for millions of Brazilian women can be seen in the terms of the agreement and we are very much looking forward to working with them. This operation marks a new step in our strategy, which aims to develop partnerships with global leaders in the field of women's health", declared François Fornieri, CEO of Mithra.
The new pill from Mithra is currently undergoing Phase III clinical testing in Europe, Russia, the United States and Canada. The first results should arrive in the 3rd quarter of 2018. These trials test the reliability and effectiveness of Estelle. The specific feature of this contraceptive is that it contains Estetrol, a unique natural oestrogen.
