Antares Pharma announced that the first shipment of commercial-ready VIBEX auto-injector devices was sent to Teva at the end of 2013’s first quarter. This initial order of prelaunch quantities of VIBEX, a generic epinephrine auto-injector, is the first of many shipments that will take place this year.
This announcement marks a milestone for Antares in the successful achievement of commercial production of VIBEX devices. The company’s growing and maturing development pipeline, which includes OTREXUP for rheumatoid arthritis and QST for testosterone replacement therapy, is built around the proprietary VIBEX platform. The company’s demonstrated ability to manufacture devices at a commercial scale is both a significant accomplishment for Antares and a key advancement in the company’s own internal development programs.
Antares Pharma has entered into an exclusive license development and supply agreement with Teva, under which Teva is obligated to purchase all of its epinephrine auto-injector device requirements from Antares. Antares has received a negotiated purchase price for each device sold and will receive royalties on the sales of Teva’s epinephrine product.
Antares additionally announced, on April 26, 2012, a settlement agreement with Meridian Medical Technologies (a subsidiary of Pfizer) under which Teva may launch a generic epinephrine auto-injector on June 22, 2015, or earlier, under certain circumstances. This is subject to approval from the FDA.
For more information, visit www.antarespharma.com
About MissionIR
MissionIR is committed to connecting the investment community with companies that have great potential and a strong dedication to building shareholder value. We know our reputation is based on the integrity of our clients and go to great lengths to ensure the companies represented adhere to sound business practices.
Sign up for “The Mission Report” at www.MissionIR.com
Please see disclaimer on the MissionIR website http://www.missionir.com/disclaimer.html
