• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year

2

Philanthropy leader at Warren Buffett and Bill Gates’ Giving Pledge says children of billionaires are pushing them to give their wealth away faster

3

Elon Musk on MacKenzie Scott giving away $26 billion of her fortune: 'Sadly,' it makes the world a worse place

1

MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year

2

Philanthropy leader at Warren Buffett and Bill Gates’ Giving Pledge says children of billionaires are pushing them to give their wealth away faster

3

Elon Musk on MacKenzie Scott giving away $26 billion of her fortune: 'Sadly,' it makes the world a worse place
Newsletters

The Company Behind ‘Female Viagra’ Just Raised $20 Million in Funding

By
Polina Marinova
Polina Marinova
Down Arrow Button Icon
By
Polina Marinova
Polina Marinova
Down Arrow Button Icon
September 4, 2019, 7:39 AM ET
Add Fortune on Google for similar content.

Sprout Pharmaceuticals, the company behind female libido drug Addyi, has raised $20 million in venture funding.

Sprout CEO Cindy Eckert told Fortune that the drug, often referred to as “female viagra,” received some favorable decisions by the Food and Drug Administration. Instead of telling patients to entirely refrain from alcohol before using Addyi, they can now tell them to discontinue at least two hours prior.

The FDA also removed the requirement for healthcare practitioners or pharmacies to be certified to prescribe or dispense Addyi. Women will now be able to speak with any licensed U.S. healthcare provider to obtain a prescription for Addyi. 

“I spent $10 million just to do additional scientific work on Addyi and alcohol interaction,” Eckert said. “On the basis of those findings, the FDA has ruled they will lift the alcohol contraindication.” 

This marks Eckert’s second round as CEO of Sprout, the Raleigh, N.C.-based developer of a drug intended to treat hypoactive (or low) sexual desire disorder in pre-menopausal women. She sold the startup to Valeant for $1 billion in August 2015, later sued Valeant for failing to commercialize the drug, and got her company back for free.

In November, Valeant handed over Sprout to Eckert and its former owners without charging an upfront fee. According to the terms of the deal, Sprout’s shareholders agreed to drop the pending lawsuit and Valeant will get a 6% royalty on global sales of Addyi. In turn, Valeant agreed to loan the company $25 million to “fund initial operating expenses.”

Since taking the helm a second time, Eckert has cut Addyi’s price in half — from $800 down to $400 for a monthly prescription. The first eight weeks of Addyi are available to patients at no cost, regardless of insurance coverage. Subsequent refills cost no more than $25 per month with insurance, and no more than $99 per month without insurance. (Sprout subsidizes the remaining cost through a co-pay program). Eckert declined to disclose sales figures for the drug.

Eckert says she decided to raise $20 million in outside capital to increase marketing, expand Addyi’s digital presence, and beef up her sales force. The last time she had to fundraise for Sprout, attracting traditional investors wasn’t easy.

“For male investors, the quick reaction was social discomfort, and they would cope by joking: ‘Isn’t jewelry female Viagra,’” she said in 2017. “I knew I wasn’t going to get classical funding, so I went out and built an incredible network of high-net worth individuals and angels who bet on me early.” 

It appears she did the same thing for this round. According to a recent SEC filing, Sprout raised capital from 110 investors, all of which are the same family offices and wealthy individuals who invested in her prior round. When asked why no traditional venture capital firms were listed in the roster of investors, Eckert claims she didn’t need their money. She said the round was exclusively for existing shareholders, and she “didn’t let any externals in.”

Sprout’s first investors already got a big windfall from Sprout’s billion-dollar acquisition in 2015, so in theory, they could double dip. If the company beefs up its business and gets sales off the ground, shareholders could even see a second exit.

Bob Dahl, the former head of global healthcare for the Carlyle Group, was one of the original investors in Sprout and also participated in the latest fundraising. “This is a great time to invest in the company because it’s like getting in on the ground floor again,” he said. 

Even with the fresh capital and its progress with FDA, it’s still an uphill battle for “the little pink pill.” Addyi continues to draw criticism from groups that question whether hypoactive sexual desire disorder actually merits drug therapy.

Dahl calls this “nonsense,” adding, “This condition is widely accepted in the literature, and the notion that it’s some sort of contrived condition created by a drug company to sell its products is ridiculous.”

When asked if she plans to raise capital, build up the business, and sell the company for a second time, Eckert says: “Right now, I’m squarely focused on getting it right for women, but it’s not out of the question.”

About the Author
By Polina Marinova
See full bioRight Arrow Button Icon
Add Fortune on Google for similar content.

Latest in Newsletters

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in Newsletters

The Supreme Court’s birthright citizenship ruling hands the U.S. economy a $7.7 trillion win
NewslettersCEO Daily
The Supreme Court’s birthright citizenship ruling hands the U.S. economy a $7.7 trillion win
By Diane BradyJuly 1, 2026
7 hours ago
Microsoft CEO Satya Nadella on April 23, 2026 in Sydney, Australia. (Photo: George Chan/Getty Images)
NewslettersFortune Tech
Microsoft may cut thousands more jobs in a bid to control costs
By Andrew NuscaJuly 1, 2026
7 hours ago
Image of colored bar charts with one being pushed up.
NewslettersEye on AI
AI is minting billion-dollar companies faster than before
By Beatrice NolanJune 30, 2026
23 hours ago
Meet the only Black woman chair of the board in the Fortune 500
NewslettersMPW Daily
Meet the only Black woman chair of the board in the Fortune 500
By Emma HinchliffeJune 30, 2026
1 day ago
The VCs betting founders need a village, not a blank check
NewslettersTerm Sheet
The VCs betting founders need a village, not a blank check
By Allie GarfinkleJune 30, 2026
1 day ago
Gulf bond markets extend their rally despite uncertain outlook
NewslettersFortune Gulf Brief
Gulf bond markets extend their rally despite uncertain outlook
By Melissa HancockJune 30, 2026
1 day ago

Most Popular

MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year
Success
MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year
By Sydney LakeJune 25, 2026
6 days ago
Philanthropy leader at Warren Buffett and Bill Gates’ Giving Pledge says children of billionaires are pushing them to give their wealth away faster
Success
Philanthropy leader at Warren Buffett and Bill Gates’ Giving Pledge says children of billionaires are pushing them to give their wealth away faster
By Preston ForeJune 27, 2026
4 days ago
Elon Musk on MacKenzie Scott giving away $26 billion of her fortune: 'Sadly,' it makes the world a worse place
Success
Elon Musk on MacKenzie Scott giving away $26 billion of her fortune: 'Sadly,' it makes the world a worse place
By Sydney LakeJune 29, 2026
2 days ago
As Big Tech showers employees with perks to win the talent war, Nvidia built a nearly $5 trillion company by making people pay for their own lunch
Big Tech
As Big Tech showers employees with perks to win the talent war, Nvidia built a nearly $5 trillion company by making people pay for their own lunch
By Marco Quiroz-GutierrezJuly 1, 2026
9 hours ago
The U.S. Army is opening military bases to private billions — here's why that changes everything for the next 250 years
Commentary
The U.S. Army is opening military bases to private billions — here's why that changes everything for the next 250 years
By Marc AndersenJune 30, 2026
1 day ago
The Supreme Court's birthright citizenship ruling hands the U.S. economy a $7.7 trillion win
Newsletters
The Supreme Court's birthright citizenship ruling hands the U.S. economy a $7.7 trillion win
By Diane BradyJuly 1, 2026
7 hours ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.