JERUSALEM and EWING, N.J. Antares Pharma and Teva have signed their fourth deal, this time Antares will develop and supply a new disposable pen injector for use with two patient-administered pharmaceutical products of Teva, which as of yet are undisclosed, according to published reports.
Antares has estimated a $500 million market for each drug when they hit the market in the second half of 2011 and 2012.
Under the deal, Antares will receive an upfront cash payment, as well as milestone fees, device sales and royalties on net sales of the combined drug/device product from Pfizer. Antares will also retain the rights to the new injector pen for use with other pharmaceutical and biological products not covered by the agreement.
“These potential new products contribute further confidence to our sales ramp up and royalty growth plans with four new product introductions possible between 2008 through 2012,” said Antares chief executive officer Jack Stover