Theramex
Theramex is a privately-held, PE-backed global specialty pharmaceutical company dedicated exclusively to women's health across contraception, fertility, menopause, and osteoporosis, commercializing established brands (Evorel, Femoston, Duphaston, Intrarosa) in 80+ countries via field sales and distributor partnerships.
- Company typePrivate
- Founded2018
- HeadquartersLondon, United Kingdom
- Headcount1–10
- GTM typeB2C
- OfferingHardware or Manufacturing
What Theramex does
Theramex is a privately-held, PE-backed global specialty pharmaceutical company headquartered in London and dedicated exclusively to women's health across four therapy areas: contraception, fertility, menopause, and osteoporosis. Founded in 2018, the company has grown to 500+ employees serving women in over 80 countries through 12+ wholly-owned country offices (UK, Australia, Belgium, Brazil, France, Germany, Ireland, Italy, Netherlands, Poland, Romania, Spain/Portugal) and a distributor network extending across Europe, Africa, Asia-Pacific, and Latin America. Its commercial portfolio centers on established and acquired brands including Evorel patches (250,000+ prescription items annually), Intrarosa, Femoston, and Duphaston — the latter two acquired from Viatris in December 2023.
The company pursues a sales-led, in-licensing-driven growth model: a dedicated field sales force (Women's Health Account Managers, Key Account Managers, Medical Science Liaisons) engages gynecologists, rheumatologists, orthopaedists, primary care physicians, IVF clinics, and pharmacies, while channel partnerships with Teva, Zentiva, Zuellig Pharma, and Kissei Pharmaceutical extend reach into non-direct markets. Its pipeline includes Casea S, a first-in-category biodegradable contraceptive implant co-developed with Daré Bioscience (Phase 1, FHI 360), and a novel asset under co-development with Viramal using the FemMedTech platform announced June 2026. Pricing is prescription-based and reimbursement-mediated; specific price points are not publicly disclosed.
The company has encountered significant regulatory friction: it received two PMCPA public reprimands for systemic breaches of the ABPI code of practice (including failure to update prescribing information and inadequate pregnancy-risk warnings) and withdrew from the PMCPA self-regulatory framework in January 2026, placing itself under direct MHRA oversight. Theramex operates through its UK parent entity Theramex HQ UK Limited and wholly-owned operating subsidiaries across Europe, with no public ownership disclosure.
Theramex firmographics
Firmographics- Name
- Theramex
- Legal name
- Theramex HQ UK Limited
- Website
- http://theramex.com/
- Company type
- Private
- Founded year
- 2018
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- Theramex is a privately-held, PE-backed global specialty pharmaceutical company dedicated exclusively to women's health across contraception, fertility, menopause, and osteoporosis, commercializing established brands (Evorel, Femoston, Duphaston, Intrarosa) in 80+ countries via field sales and distributor partnerships.
- Ownership category
- akta.pro rank
Theramex industry classification
Industry- Product category
- Women's Health Pharmaceuticals
- NAICS
- Pharmaceutical Preparation Manufacturing (325412), Pharmaceutical and Medicine Manufacturing (3254)
- SIC
- Pharmaceutical Preparations (2834)
- akta.pro primary industry
- Women’s Health & Reproductive Specialty Pharmaceuticals (HLAIACAN)
- akta.pro secondary industries
- Endocrinology & Reproductive Health Pharmaceuticals (incl. Women’s Health) (HLAIAAAJ), Specialty Care Pharmaceuticals (HLAIAAAB)
Keywords
Where Theramex is headquartered
LocationHeadquarters
- HQ city
- London
- HQ country
- United Kingdom
- HQ region
- Europe
Offices12 records
Markets served
Theramex business model
Business model- GTM type
- B2C
- Offering type
- Hardware or Manufacturing
- Cost components
- Personnel, Operations, Marketing or Sales, Technology or R&D, Supply Chain
Revenue model
- Pharmaceutical Product Sales: Theramex generates revenue through the sale of prescription pharmaceutical products across four women's health therapy areas: contraception, fertility, menopause, and osteoporosis. The company markets both innovative and established brands to healthcare professionals and patients globally.
- In-licensing and Portfolio Expansion: Revenue is driven by acquiring and commercializing established and innovative women's health treatments. In December 2023, Theramex acquired the European rights to Duphaston and Femoston hormone replacement therapy portfolio from Viatris Inc. to expand availability of established menopause treatments in European markets.
Go-to-market motion3 records
Distribution channels4 records
Marketing channels7 records
Theramex product offering
Product offeringCore offering
Theramex is a global specialty pharmaceutical company that develops, in-licenses, and commercializes prescription medicines dedicated exclusively to women's health across four therapy areas: contraception, fertility, menopause, and osteoporosis. Its commercial portfolio includes established and innovative brands such as Evorel, Intrarosa, Femoston, and Duphaston, plus a pipeline that includes the Casea S biodegradable contraceptive implant co-developed with Daré Bioscience. The company sells to healthcare professionals and dispenses through pharmacies in more than 80 countries across Europe, Africa, Asia-Pacific and Latin America.
Product overview
Theramex is a global specialty pharmaceutical company dedicated exclusively to women's health, offering a portfolio of innovative and established brands across four key therapy areas: contraception, fertility, menopause, and osteoporosis. The company's product portfolio includes combined hormonal contraceptives with associated patient and prescriber educational materials, established HRT products such as Evorel patches and Intrarosa, and acquired brands Femoston and Duphaston from Viatris. The company also maintains a pipeline including Casea S, a biodegradable contraceptive implant developed in partnership with Daré Bioscience, designed to provide long-acting contraception that dissolves without removal.
Differentiator
Problem solved
Functional benefit
Products and services
- Evorel
Quantifiable outcome
- Evorel patches: over 250,000 prescription items in the last financial year
- +2 more outcomes
Companies that use Theramex
Customer profileNamed customers5 records
Segments4 records
Ideal customer profiles3 records
Theramex technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature2 records
Theramex partnerships and signals
Strategic signalPartnerships
Ten partnerships are on record, tiered core and minor.
- ViramalcoreStrategic co-development partnership announced June 18, 2026, to advance a novel pipeline asset using Viramal's patented FemMedTech™ platform. The collaboration combines Viramal's development capabilities with Theramex's global commercial platform and category expertise to accelerate asset progression and optimize future market potential in women's health.
- Royal Osteoporosis Society (ROS)minorPartnership supporting The Great British Bone Check, a free three-minute risk assessment tool designed to help people understand their risk of osteoporosis. Theramex funded the development of the microsite. The ROS campaign aims to break the cycle of missed diagnoses and untreated fractures.
- Daré BiosciencecoreCo-development and licensing agreement for Casea S, a potential first-in-category biodegradable contraceptive implant providing 18-24 months of contraception before dissolving. The implant requires only a single surgical visit and eliminates the need for healthcare provider removal. Phase 1 trial is being conducted by FHI 360 with full foundation grant funding, with future Phase II and III costs to be shared upon positive study results.
- FHI 360coreFHI 360 is conducting the ongoing Phase 1 clinical trial for Casea S, the biodegradable contraceptive implant co-developed by Theramex and Daré Bioscience. The trial is fully foundation grant funded, resulting in no current development costs for either party.
- Viatris Inc.coreIn December 2023, Theramex HQ UK Limited acquired the European rights to Femoston and Duphaston hormone replacement therapy portfolio from Viatris Inc. The acquisition aims to expand availability of established menopause treatments in European markets.
- BintiminorPartnership with Binti, an organization dedicated to improving menstrual health and dignity for women globally. Theramex has partnered with Binti since 2019 and continued the partnership in 2025. Activities include advocating for normalization of menstruation, supporting access to period products, and providing free sanitary products in Theramex office bathrooms.
- TevaminorListed as one of Theramex's current partners in the partner logos section of the company website. Nature of partnership includes collaboration and distribution of women's health products.
- ZentivaminorListed as one of Theramex's current partners. Zentiva is a pharmaceutical company that may serve as a manufacturing or distribution partner for certain products.
- Zuellig PharmaminorListed as one of Theramex's current partners. Zuellig Pharma is a healthcare solutions partner that may provide distribution services in Asia-Pacific markets.
- Kissei PharmaceuticalminorListed as one of Theramex's current partners. Kissei Pharmaceutical is a Japanese pharmaceutical company with a logo displayed on the partner page.
Scale indicators8 records
Recent moves6 records
Expansion highlights6 records
Theramex competitors and assessment
Company assessmentEmerging players
- Daré Bioscience: US clinical-stage biopharma developing women's health products and Theramex's co-development partner for Casea S. Comparable as a women's-health-focused emerging company addressing contraception and reproductive health, with Theramex as a global commercialization partner.
Regional players
- Zentiva: European specialty/generic pharma and current Theramex channel partner. Operates similar women's health and HRT product categories with a primary focus on European markets, directly comparable in geographic and therapeutic overlap.
Direct peers
- Organon & Co. Organon is a global women's health-focused pharmaceutical company spun out of Merck in 2021, covering contraception, fertility, menopause, and bone health. Directly comparable to Theramex as a specialty pharma with a women's health-only mandate and a similar therapy-area portfolio across contraception, fertility, and HRT.
- Gedeon Richter: Hungarian specialty pharma with a significant women's health franchise including contraception and fertility (notably the Finox acquisition, led by Gavin Masterton before joining Theramex). Directly comparable as a European specialty pharma with overlapping women's health portfolio focus.
- TherapeuticsMD: US-focused women's health specialty pharma with a portfolio in contraception, menopause, and vaginal health. Directly comparable as a dedicated women's health specialty company targeting the same therapy areas as Theramex, though with US rather than European geographic focus.
Broad incumbents
- Bayer AG (Pharmaceuticals): Bayer operates a significant women's health franchise including Mirena, Kyleena, Yaz/Yasmin, and established HRT products. It is a broad incumbent with overlapping women's health capabilities as part of a diversified pharma portfolio, competing directly with Theramex in contraception and menopause.
- AbbVie (Allergan Aesthetics): AbbVie's predecessor Allergan was a global women's health player in contraception and HRT and is Theramex CEO Robert Stewart's former employer. Comparable as a broad incumbent with overlapping women's health portfolio and global commercial scale.
- Teva Pharmaceutical Industries: Teva is a current Theramex channel partner (per partner logos) and is also a broad incumbent in women's health and hormone therapy. Comparable as a global specialty/generic pharma with overlapping HRT and contraception portfolio and existing Theramex partnership.
- Viatris Inc. Global pharma that sold its European Femoston and Duphaston HRT portfolio to Theramex in December 2023. Viatris operates broadly across women's health and biosimilars and is comparable as both a former counterparty and an incumbent supplier in the same therapy areas.
- Amneal Pharmaceuticals: US-based specialty and generic pharma where Theramex CEO Robert Stewart previously served as CEO. Operates broadly across women's health and endocrinology, comparable as a specialty/generic incumbent with overlapping therapy areas.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks7 records
Key highlights7 records
Customer concentration
Theramex social profiles
Digital presenceTheramex financial estimates
Financial estimateRevenue estimate
Valuation estimate
Theramex leadership team
Management profileNumber of profiles
Profiles11 records
Theramex subsidiaries and ownership
Company hierarchySubsidiaries4 records
Theramex funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Theramex M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Theramex
What does Theramex do?
Theramex is a global specialty pharmaceutical company that develops, in-licenses, and commercializes prescription medicines dedicated exclusively to women's health across four therapy areas: contraception, fertility, menopause, and osteoporosis. Its commercial portfolio includes established and innovative brands such as Evorel, Intrarosa, Femoston, and Duphaston, plus a pipeline that includes the Casea S biodegradable contraceptive implant co-developed with Daré Bioscience. The company sells to healthcare professionals and dispenses through pharmacies in more than 80 countries across Europe, Africa, Asia-Pacific and Latin America.
Is Theramex a public or private company?
Theramex is a private company. It is classified as private equity controlled and is currently operating.
When was Theramex founded?
Theramex was founded in 2018. It employs 1 to 10 people.
Where is Theramex based?
Theramex is headquartered in London, United Kingdom, in the Europe region.
How does Theramex make money?
Two revenue lines are on record. Pharmaceutical Product Sales are the primary driver. The others are in-licensing and Portfolio Expansion.
Who are Theramex's main competitors?
Daré Bioscience is listed as an emerging player. Zentiva is listed as a regional player. Direct peers are Organon & Co., Gedeon Richter and TherapeuticsMD. Broad incumbents are Bayer AG (Pharmaceuticals), AbbVie (Allergan Aesthetics), Teva Pharmaceutical Industries, Viatris Inc. and Amneal Pharmaceuticals.
Does Theramex have an API?
No public API is recorded for Theramex.
What industry is Theramex in?
Theramex's product category is Women's Health Pharmaceuticals. Its primary akta.pro industry code is HLAIACAN, Women’s Health & Reproductive Specialty Pharmaceuticals, with a secondary code of HLAIAAAJ, Endocrinology & Reproductive Health Pharmaceuticals (incl. Women’s Health). Its NAICS code is 325412 and its SIC code is 2834.