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 PharmaLEO 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.