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RedHill (RDHL) acquires Rebyota and Clenpiq commercialization rights for $12M upfront. Can sales outpace royalties? Jeff Lewis RedHill Biopharma Ltd. (NASDAQ:RDHL) acquired exclusive global commercialization rights to Rebyota and exclusive U.S. commercialization rights to Clenpiq from Ferring Pharmaceuticals. The agreement has an initial 13-year term and automatically renews for successive two-year periods unless either party elects not to renew. RedHill Biopharma Ltd. (NASDAQ:RDHL) paid $12 million upfront, funded from the $18 million upfront proceeds of its Talicia divestiture. The consideration also includes tiered royalties of 5% to 20% of net sales, potential capped sales milestones, and other contingent payments. RedHill Biopharma Ltd. (NASDAQ:RDHL) must purchase existing Rebyota inventory under deferred payment terms and meet minimum annual Rebyota purchase commitments from 2027 through 2029. The amounts were not disclosed. Ferring Pharmaceuticals will continue manufacturing and supplying the products, while RedHill Biopharma Ltd. (NASDAQ:RDHL) assumes commercialization responsibility in the licensed territories. The structure limits upfront spending but leaves the economics dependent on royalties, inventory funding, and supplier performance. Bull case. Rebyota and Clenpiq already have meaningful sales. The products generated approximately $37.5 million of combined U.S. net sales in 2025. Rebyota contributed approximately $16.9 million and had an established base of about 600 active accounts. Clenpiq generated $20.6 million with what RedHill Biopharma Ltd. (NASDAQ:RDHL) described as minimal promotion. Rebyota is approved to prevent recurrent Clostridioides difficile infection in adults following antibiotic treatment for recurrent infection. It is not indicated to treat active C. difficile infection. Clenpiq is a ready-to-drink, low-volume bowel preparation for colonoscopy in adults and pediatric patients aged nine years and older. The products broaden RedHill Biopharma Ltd. (NASDAQ:RDHL)'s gastrointestinal coverage across specialist treatment and routine procedures. RedHill Biopharma Ltd. (NASDAQ:RDHL) can place both products into an existing commercial infrastructure without acquiring manufacturing facilities. Existing approvals reduce the need for U.S. product development, although future international regulatory and launch obligations were not disclosed. If additional promotion lifts Clenpiq sales and the Rebyota account base expands, the commercial team could generate more sales without a comparable increase in fixed costs. The $12 million upfront payment appears modest relative to combined 2025 net sales, although that comparison excludes royalties and other obligations.

How culturally responsive care is helping reduce disparities in fertility treatment. Fertility care is deeply personal. Every patient brings unique experiences, values, and cultural perspectives to their care. Yet many patients from historically marginalized communities report feeling unwelcome or misunderstood in healthcare environments where their lived experiences were not reflected in the care they received. While many factors contribute to these experiences, one is the longstanding lack of diversity within the healthcare workforce. Although women make up about half of the U.S. population and Black Americans nearly 14%, physicians remain disproportionately white and male-only 39% of practicing physicians are female, and just about 5% are Black. For many people seeking fertility treatment, having the option to receive care from a provider who understands their background and respects their values, preferences and lived experiences can help foster trust, communication, and engagement during treatment. Choice in care matters. In response, Janet Choi, MD, Progyny Chief Medical Officer, and other network physicians collaborated with Morehouse School of Medicine, Ferring Pharmaceuticals, and EngagedMD to develop educational content focused on advancing culturally responsive fertility care. The FertilityEquity(TM) training program is comprised of 26 evidence-based learning modules combining educational content, practical guidance, and real patient stories illustrating care gaps. The curriculum explores disparities in fertility care and delivers actionable strategies to support more equitable patient experiences and outcomes. Providers and clinics completing the coursework are recognized in the Progyny Provider Search Tool, enabling members to identify practices that have demonstrated a commitment to culturally responsive care. "Members can now more easily identify providers who have invested in culturally responsive fertility care, which is essential to improving both trust and outcomes. For many patients-particularly women of color-experiences of feeling dismissed or not fully heard remain far too common, and that can delay engagement with care at critical moments," explains Dr. Choi. The need for this type of support is reflected in persistent disparities in fertility care. Research shows that while Black women experience infertility at disproportionately higher rates, they often seek fertility care later and face greater barriers to accessing treatment. Black women may spend more than 1.5 additional years trying to conceive before seeking fertility support and are significantly more likely to report difficulty finding a preferred provider. Additionally, Black and Hispanic women are up to six times more likely to have difficulty finding a physician with whom they feel comfortable. By helping members identify providers who have completed culturally responsive care training, Progyny aims to make it easier for individuals to find care that aligns with their needs and fosters trust throughout the fertility journey. "Age is a significant factor that influences the success of fertility interventions and pregnancy outcomes. It is critical that disparities-and resultant barriers-don't contribute to delays in seeking care, particularly for historically underserved populations," says Gloria Richard-Davis, MD, MBA, Regional Dean of the Morehouse School of Medicine and Progyny Medical Advisory Board member. "With the opportunity to identify aligned providers, members can seek fertility care earlier and with greater confidence." Strong provider-patient relationships are foundational to high-quality fertility care. When patients feel heard, respected, and understood, they are more likely to engage in their care, make informed decisions, and feel empowered throughout their fertility journey. The response to the coursework has been overwhelmingly positive; participants eager to pursue the recognized culturally competent care designation to better meet the needs of diverse patient populations. Progyny's partnership with Morehouse, Ferring, and EngagedMD reflects a broader effort to raise the standard of care-ensuring that more individuals can access providers who understand their needs, engage earlier in treatment, and ultimately achieve better outcomes. This is an important step toward a future where every patient feels seen, heard, and supported throughout their fertility journey. If you're curious to learn more or if you're a provider looking to take the course, please visit FertilityEquity.