Antares Pharma Shares Rise After FDA Approves First Rival Generic EpiPen

   By Stephen Nakrosis

Shares of Antares Pharma Inc. (ATRS) are rising after-hours Thursday, the day the U.S. Food and Drug Administration approved Teva Pharmaceutical Industries' generic auto-injector with epinephrine, a device that utilizes Antares' Vibex auto injector platform. This was the first time the FDA approved a generic substitute for Mylan's EpiPen injector device.

Antares said the company "previously entered into an exclusive License, Development and Supply Agreement with Teva for an epinephrine auto injector product to be marketed in the U.S." In line with the agreement, Antares will supply the device, and Teva will be responsible for commercialization and distribution of the final product. Antares will receive royalties on net sales, the company said.

Shares of Antares closed Thursday trading at $3.30, up 4.10% on heavy volume. IN after-hours trading, shares were up 3.03% at $3.40. (stephen.nakrosis@wsj.com)

(END) Dow Jones Newswires

August 16, 2018 17:39 ET (21:39 GMT)

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