SAN DIEGO, March 8, 2001 (PRIMEZONE) -- Women First HealthCare, Inc. (Nasdaq:WFHC) today announced it has signed a formulary partnership agreement for Esclim™ with AdvancePCS, America's leading pharmacy benefit services organization. Under terms of the two-year agreement, effective March 1, 2001, all doses of Esclim™ (estradiol transdermal system) will be added to the AdvancePCS National Formulary, distributed to nearly 400,000 practicing physicians. The Company expects the agreement will increase revenue opportunities for Esclim™ and improve its ability to contract with additional pharmacy benefit services and managed care organizations.
Commenting on the announcement, Saundra L. Childs, Women First vice president -- pharmaceuticals, stated, "We are excited to be partnering with AdvancePCS. The alliance creates another strategic distribution platform for Women First and Esclim™. Prior to the agreement, Esclim™ was not being reimbursed to all AdvancePCS plan members and, as a result, was not being dispensed as written.
This is the second major agreement Women First HealthCare has signed for Esclim™ in less than three months. On December 21, 2000 the Company announced it had signed a nationwide purchasing agreement with Novation, the largest supply cost management company in health care, for the product. These two agreements are testament to the clinical merits and technological advantages of the Esclim™ patch.
Women First markets Esclim™ exclusively in the U.S. under a distribution and licensing agreement with Laboratoires Fournier S.A. of France. Esclim™ is approved by the U.S. Food and Drug Administration (FDA) for the treatment of vasomotor menopausal symptoms such as hot flashes and night sweats. Its active ingredient is estradiol, the principal form of estrogen produced naturally by a woman's ovaries during the reproductive years. The Esclim™ transdermal patch system offers five dosage options and is applied twice weekly. Esclim's™ patented transdermal patch technology is specifically designed for efficacy and comfort. Approved in 20 countries and the leading estrogen transdermal patch in France, Esclim™ has been studied in more than 20 clinical trials involving over 2,400 women. The patch has achieved high acceptance while demonstrating a very low incidence of skin irritation, which can be a problem in some patients using estrogen patches.
About Women First HealthCare, Inc.
Founded in 1996, Women First HealthCare, Inc. is a San Diego-based specialty pharmaceutical company. Its mission is to help midlife women make informed choices regarding their health care needs and to provide pharmaceutical and lifestyle products to meet those needs. Women First is specifically targeted to women age 40+ and their clinicians. The Company's Pharmaceutical Division, which includes a nationwide team of experienced sales specialists, contacts primarily OB/GYNs and Nurse Practitioners with estrogen replenishment options-ORTHO-EST® Tablets and Esclim™ (estradiol transdermal system). The Consumer Business is responsible for Daily Difference™ dietary supplements, developed in consultation with Tufts University School of Nutrition Science and Policy, and the Company's line of self-care products available through its As We Change® national mail order catalog and Internet retailer, www.aswechange.com. Trialogue™, the Corporate Marketing Division, is responsible for providing access to Women First's network of opinion leaders and clinicians through strategic marketing programs for sale to major pharmaceutical companies. The Company's business strategy includes the acquisition and licensing of additional prescription products that support its mission. Further information about Women First can be found online at www.womenfirst.com.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This press release may contain certain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to various risks, and Women First HealthCare, Inc. cautions you that any forward-looking information is not a guarantee of future performance. Women First HealthCare, Inc. disclaims any intent or obligation to update these forward-looking statements. Actual results could differ materially due to a number of factors, including (i) we have incurred significant losses since we were founded in November 1996, and if midlife women do not use, and their clinicians do not recommend, the products we offer, we will continue to experience significant losses; (ii) there is a limited market awareness of our company and the products and services we offer; (iii) we may need additional financing in 2001 to fund our operations, acquire new products, and make planned capital expenditures, which financing may not be available on acceptable terms, if at all; (iv) we may not be able to identify appropriate licensing, co-promotion or acquisition candidates in the future or to take advantage of the opportunities we identify; (v) we are obligated to find replacement sources of supply of ORTHO-EST® Tablets before April 2002, and if we fail to do so we will be required to pay significantly higher prices for product acquired from Ortho-McNeil Pharmaceutical; (vi) we and our products face significant competition; (vii) if we do not successfully manage any growth we experience, we may experience increased expenses without corresponding revenue increases; (viii) we are dependent on single sources of supply for all of the products we offer; and (ix) additional factors set forth in the Company's Securities and Exchange Commission filings including its Annual Report on Form 10-K for the period ended December 31, 1999 and its Quarterly Report on Form 10-Q for the nine-month period ended September 30, 2000.