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 PsoriasisPsoriasis 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.