Antares Pharma Enters into an Exclusive U.S. Promotion and Marketing Agreement with LEO Pharma for OTREXUP™ in Dermatology
November 14 2013 - 9:00AM
Business Wire
LEO Pharma: A Global Leader In Dermatology
And Topical Treatments For Psoriasis
Antares Pharma, Inc. (NASDAQ: ATRS) today announced an exclusive
promotion and marketing agreement with LEO Pharma for detailing
OTREXUP™ (methotrexate) to dermatologists for symptomatic control
of severe recalcitrant psoriasis in adults. Under the terms of the
agreement, Antares may receive up to a total of $20 million in
milestone payments including an upfront payment of $5 million.
Antares Pharma will record all product revenue associated with
future dermatology prescriptions and pay LEO Pharma a percentage of
OTREXUP™ net sales generated in dermatology. LEO Pharma will be
responsible for promotion and marketing activities in
dermatology.
“We are very pleased to be working with LEO Pharma on the launch
of OTREXUP™,” said Paul Wotton, Ph.D., President and Chief
Executive Officer of Antares Pharma. “Collaborating with LEO on the
launch creates a very strong partnership allowing Antares to team
up with and benefit from a very successful commercial organization
while LEO expands their portfolio with a new product in their field
of expertise. With a dedicated U.S. sales force of 75
representatives focused solely on the treatment of psoriasis, we
believe LEO Pharma will be able to introduce and establish OTREXUP™
as an important new treatment option with significant growth
potential in dermatology while complementing our own dedicated
sales representatives detailing OTREXUP™ for rheumatoid
arthritis.”
“We are excited to launch and promote OTREXUP™ to dermatologists
as an important new treatment option for psoriasis patients and we
look forward to working with our partner Antares to provide the
necessary service, knowledge and expertise to successfully
introduce OTREXUP™,” said Lars Olsen, Executive Vice President, LEO
Pharma A/S. “As a global leader in the treatment of psoriasis, we
have continually offered innovative and novel treatment solutions
to patients. The ease of use and improved bioavailability that
OTREXUP™ delivers will expand our current portfolio of products for
the treatment of psoriasis and help LEO Pharma continue to realize
its vision of being the world’s leading dermatology specialty
pharmaceutical company.”
About Psoriasis
Psoriasis is a chronic autoimmune skin disease that most
commonly appears as raised, red patches with a white build-up of
dead skin cells. Psoriasis can affect the skin on any part of the
body and occurs when the immune system sends out faulty signals
that speed the growth cycle of skin cells. Psoriasis is generally
considered to be severe if it covers more than 5%-10% of body
surface, recalcitrant when it does not adequately respond to
treatment and disabling when it interferes with basic functions
such as self-care, walking, sleep, etc.
About LEO Pharma
LEO Pharma helps people achieve healthy skin. By offering care
solutions to patients in more than 100 countries globally, LEO
Pharma supports people in managing their skin conditions. Founded
in 1908 and owned by the LEO Foundation, the healthcare company has
devoted decades of research and development to delivering products
and solutions to people with skin conditions. LEO Pharma is
headquartered in Denmark and employs 4,800 people worldwide.
For more information, visit www.leo-pharma.com.
About Antares Pharma
Antares Pharma focuses on self-administered parenteral
pharmaceutical products and topical gel-based medicines. The
Company has received marketing approval from the U.S. Food and Drug
Administration for OTREXUP™ (methotrexate) injection for the
treatment of adults with severe active rheumatoid arthritis,
children with active polyarticular juvenile idiopathic arthritis
and adults with severe recalcitrant psoriasis. Antares Pharma is
also developing VIBEX® QS T for testosterone replacement therapy.
The Company's technology platforms include VIBEX® disposable
Medi-Jet, disposable multi-use pen injectors and Vision™ reusable
needle-free injectors marketed as Tjet® and Zomajet® by Teva
Pharmaceutical Industries, Ltd (Teva) and Ferring Pharmaceuticals
(Ferring), respectively. Antares Pharma has a multi-product deal
with Teva that includes Tev-Tropin® [somatropin (rDNA origin) for
injection] human growth hormone (hGH), VIBEX® epinephrine and
several other products. Antares Pharma’s partnership with Ferring
includes Zomacton® hGH (somatropin) injection. In the U.S. Antares
has received FDA approval for Gelnique 3%™ (oxybutynin) gel, a
treatment for overactive bladder that is marketed by Actavis.
Elestrin® (estradiol gel) is FDA approved for the treatment of
moderate-to-severe vasomotor symptoms associated with menopause,
and is marketed in the U.S. by Meda Pharma. Antares Pharma has two
facilities in the U.S. The Parenteral Products Group located in
Minneapolis, Minnesota directs the manufacturing and marketing of
the Company’s reusable needle-free injection devices and related
disposables, and develops its disposable pressure-assisted Medi-Jet
and pen injector systems. The Company’s corporate office and
Product Development and Commercial Groups are located in Ewing, New
Jersey.
Safe Harbor Statement
This press release contains forward-looking statements within
the meaning of the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. These statements are indicated by
the words “may,” “will,” “plans,” “intends,” “believes,” “expects,”
“anticipates,” “potential,” “could,” “would,” “should,” and similar
expressions. Such forward-looking statements are not guarantees of
future performance and are subject to risks and uncertainties that
may cause actual results to differ materially from those
anticipated by the forward-looking statements. These risks and
uncertainties include, among others, changes in revenue growth and
difficulties or delays in the commercial launch of OTREXUP™ for
rheumatoid arthritis and psoriasis, market acceptance by physicians
and patients of new products, delays in product development and
changes or delays in the regulatory process for existing or new
product candidates. Additional information concerning these and
other factors that may cause actual results to differ materially
from those anticipated in the forward-looking statements is
contained in the "Risk Factors" section of the Company's Annual
Report on Form 10-K for the year ended December 31, 2012, and in
the Company's other periodic reports and filings with the
Securities and Exchange Commission. The Company cautions investors
not to place undue reliance on the forward-looking statements
contained in this press release. All forward-looking statements are
based on information currently available to the Company on the date
hereof, and the Company undertakes no obligation to revise or
update these forward-looking statements to reflect events or
circumstances after the date of this press release, except as
required by law.
Investor Contacts:Antares Pharma Inc.Jack HowarthVice
President, Corporate Affairs+1
609-359-3016jhowarth@antarespharma.comorOther Contacts:LEO
Pharma A/SAdam EstrupDirector, Corporate Communications+45 2222
6994adam.estrup@leo-pharma.com
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